EY expands legal services with Pangea3 deal

09 April 2019 Consultancy.uk

EY has struck a deal with Thomson Reuters to purchase its Pangea3 business. The acquisition will significantly strengthen EY’s global legal offering, with the Big Four currently making major headway in the sector. 

The Big Four of the professional services world has set about parking tanks on the lawn of the lucrative legal services market in earnest in 2019. By doing so, the gang of four hope to open up access to a $30 billion windfall for themselves, and the quartet already boast larger headcounts than many traditional law firms, while offering a more holistic, end-to-end service.

As consulting firm forays into the advertising world have similarly shown – an enlarged workforce is one major route to winning over new clients. KPMG is rapidly developing its offering in the sector, moving to launch its UK legal presence in 2019. Meanwhile, PwC boasts a global total of 3,500 lawyers, and Deloitte has around 2,000.EY expands legal services with Pangea3 deal

EY has also been working diligently to expand its legal offering, recently striking a deal to purchase Riverview Law. The acquisition was intended to assist and scale the EY Law legal managed services offering, while helping EY clients to increase efficiency, manage risk, improve service transparency and reduce the costs of routine legal activities. Now, amid booming demand from multinational organisations for legal services, EY has announced an agreement for the acquisition of Pangea3 Legal Managed Services from Thomson Reuters.

Pangea3 offers global legal managed services, with more than 1,000 legal professionals across eight service delivery locations on three continents. The firm leverages legal, technical and business-process talent in quality, cost-effective centers, working to assist clients in mitigating legal risks, reducing burdensome costs and providing continuity and scale to budget-strapped legal teams.

The transaction is expected to close in the second quarter of 2019, subject to the satisfaction of various closing conditions, at which point it will bolster the ability for the practices of EY Law to help clients transform their operations and deliver meaningful value to their businesses. The move strengthens EY Law in three core areas: lifecycle management; regulatory risk and compliance; and investigations and litigation. It also offers a welcome boost to the headcount of EY’s legal wing, which comprises more than 2,400 lawyers in 84 countries.

Commenting on the move, out-going EY Global Chair and CEO Mark Weinberger said, “This new enhanced offering will make EY one of the leading professional services organizations for global legal advisory services and legal operations services, including legal function advisory, managed services and technology. The acquisition is an example of how EY is working to provide clients with holistic solutions, which are enabled by technology.”

Kate Barton, EY Global Vice Chair – Tax, added, “The EY Law practices will connect the practice of law with the business of law globally. Legal departments recognize that the future lies in aligning more closely with broader business transformation and we are uniquely positioned to offer a globally consistent, leading approach across the enterprise.”


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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.”