3 October 2017
Lonsdale Capital Partners today announced that portfolio company P2 Consulting has acquired independent business change consultancy Certeco Limited (“Certeco”). The two companies will merge to create one of the largest change management consultancies in the UK and Europe, with a team of c. 250 consultants and a combined turnover of more than £30 million.
The merger comes just five months after the acquisition of financial crime specialist FS101, and forms part of an active buy and build strategy to create a world leading change management consultancy.
In addition to significantly increasing the size of the business, the merger of P2 and Certeco will expand the range and depth of expertise offered to clients through all stages of the business change process.
Alongside the core programme and project management, Certeco also offers expertise in business architecture and design services, as well as post implementation testing and quality assurance.
Since the MBO, P2 has maintained an impressive growth trajectory, underpinned by favourable market drivers including increasing levels of regulatory and government change, digital and technological disruption and M&A activity.
James Knott, Director at Lonsdale Capital Partners, said: “The merger of P2 Consulting and Certeco is a very significant milestone in our plan to create the world leader in project and programme management. There are very few businesses in the UK or Europe with the breadth and depth of specialist services that the combined business now provides. We look forward to working with the management team to capitalise on this advantage, and to pursue additional opportunities to acquire complementary businesses in a fragmented sector.”
He added: “Buy and build is a key driver for Lonsdale backed growth, and Certeco is the sixth bolt on acquisition backed by our first institutional fund. One third of the fund is now deployed, with additional capital earmarked for add on transactions.”
Douglas Elliott, Chief Executive Officer of P2 Consulting and the CEO of the newly formed company, said: “Together, we will be able to provide a much broader range of consultancy services to the market and become a real contender to the big consultancies.”