Wavestone close to acquiring UK-based technology consulting firm

04 April 2018 Consultancy.uk

Wavestone intends to accelerate international development with the acquisition of a UK consultancy in the coming month. The global consultancy has announced that it has entered into final negotiations to complete a 100% acquisition of the unnamed firm’s capital.

Wavestone is an international management consulting firm formed by a series of acquisitions by Solucom, including that of Hudson & Yorke, and later, Kurt Salmon in 2015, before the collection of acquired firms rebranded under the single name Wavestone in 2016. The unified firm now hosts a team of over 2,600 consultants in four continents, providing a range of management and IT advisory offerings, serving corporates, multinationals, and public sector organisations.

Since its rebranding, Wavestone’s combined leadership has set out a to complete a new strategic vision aimed at establishing Wavestone as a top-tier international consulting brand by 2021. Building on a number of growth pillars, including accelerated growth in existing markets, market entry into new consulting segments and the opening of new offices, the strategy also includes room for inorganic growth, in line with Wavestone’s origins – with targeted acquisitions of firms in the range of €5 million to €20 million in revenues, primarily in the UK or the US.

Wavestone close to acquiring UK-based technology consulting firm

In line with this plan for international development, Wavestone has confirmed that it expects to close a deal for a UK-based consulting firm by the close of April. As negotiations enter their final phase, the prospective acquisition is considered, by Wavestone, to be a major opportunity to enrich the firm’s value proposition in the UK, boosting the firm's focus on the financial sector outside of France.

This proposed deal is also aimed at enhancing Wavestone's ability to address global programmes, and expand the firm's client portfolio with complementary global accounts across the finance industry. Upon closing, the transaction would take the form of a 100% acquisition of the firm’s capital by Wavestone. According to sources close to the negotiations, the purchased firm’s founders would support the project during a 6 to 12 months transition window, working to ensure the successful integration of the company within Wavestone – a part of the acquisition process that many firms struggle with.

The deal is expected to be paid fully in cash, and funded through an existing credit line negotiated with Wavestone's banks. The price of the purchase would be founded on the potentially acquired firm’s enterprise value, representing circa 1.2 times its revenues from 2017. Approximately 25% of the consideration would also be subject to the firm's performance in the year following completion, in order to ensure maximum value on Wavestone’s end.

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SQW Group purchases property-based regeneration consultancy

19 April 2019 Consultancy.uk

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.”