US advisory group Teneo acquires Credo Business Consulting

09 August 2017

Credo Business Consulting, a London based management consulting firm, has been acquired by US headquartered advisory group Teneo. As part of the deal, which marks the first acquisition of Teneo's major drive aimed at specifically expanding its consultancy footprint, 60 professionals, including six partners, join the US consultancy in London and Dubai, taking its total headcount to over 670 employees.

Teneo Holdings, a global advisory firm, has acquired management consulting firm Credo Business Consulting for an undisclosed fee. The American firm is looking to increase its capabilities amid a booming US management consulting market, which saw growth of 7.7% in 2016, reaching an approximate value of $58 billion.

Founded in 1999, UK-based consultancy Credo has since carried out assignments in over 40 nations, and boasts offices in London and Dubai. The Dubai office in particular gives the firm an excellent inroad into the increasingly profitable Middle Eastern consulting market, which Deloitte, Bain & Company, Strategy& and Teneo themselves, among others, have each tried to tap into via outfits located in the largest and most populous city of the United Arab Emirates.

Credo’s reputation as a rapidly expanding management consultancy focused on corporate strategy, transaction services, commercial and operating model transformation and performance improvement has made it into an attractive prospect for acquisition. Teneo will hope to benefit long-term from the deal, making use of Credo's depth of analysis and insight. Credo has previously helped many of the world’s leading organisations and financial investors to make and implement better strategic decisions.

The team of 60 professionals will remain with Teneo after the deal, as the firm hope to leverage their expertise across multiple sectors, including all six of Credo’s current partners, who will also become part of the extended Teneo leadership team. The Credo partners were advised during the deal by Clearwater International, a business which has negotiated over 1,300 transactions worth an aggregate value of €50 billion, on matters of corporate finance. Manchester-headquartered law firm DWF meanwhile advised Credo on legal matters, and professional services and accountancy firm Kingston Smith consulted with the sellers on financial and tax issues.

Teneo acquires Credo as part of major global expansion drive

Teneo Consulting itself provides a full range of management consulting services to many of the world’s largest companies and has experienced significant growth in the past year, having worked on a range of major projects. Notably this included a 2015 contract to assist football’s global governing body, FIFA, with a public image crisis, following a rash of bribery scandals at the sporting institution.

The consultancy has set its sights on growing into the business support, engineering, health, technology, and software and IT service advisory sub-markets among others, and has now completed four acquisitions to push the firm towards that end in 2017. The four deals make bring the firm’s total number of transactions to nine since its founding in 2011. The continued expansion of the US-based firm’s Consulting division has been led by Chairman Chris Wearing and President Alex Pigliucci.

“This acquisition will help further the expansion of Teneo’s global management consulting capabilities in response to client demand,” said Declan Kelly, Chairman and CEO of Teneo. “We are very pleased to welcome the Credo team to Teneo. They have a very strong reputation for delivering results for clients and will be a great addition as our business continues to grow.”

Simon Bones, Managing Partner of Credo, said in a statement that the joining of forces will create a "truly differentiated proposition" for clients and "an excellent platform for growth." He added, "This also represents a tremendously exciting moment for our staff. We are delighted to be joining forces with Teneo.”

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SQW Group purchases property-based regeneration consultancy

19 April 2019

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”