Procurement consultancy ProcureAbility purchased by Jabil

16 November 2023 2 min. read

Supply chain firm ProcureAbility has been acquired by Jabil, a technologically advanced manufacturing solutions provider. Professionals from Equiteq worked as exclusive advisors to the sell-side throughout the process.

Founded in 1996, ProcureAbility is a global provider of procurement services, offering advisory, managed services, digital, staffing, and recruiting solutions. The US headquartered firm has helped Fortune 1000 companies elevate their procurement function for over 25 years with its comprehensive, technology-enabled advisory, managed services, digital, staffing, and recruiting solutions. The firm has been growing quickly in recent months, and to scale its operations to meet demand it has been seeking a partner.

Launched in 1966, Jabil has become a key player in the manufacturing solutions space over the last five decades, with over 250,000 employees across 100 locations in 30 countries.

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Jabil's global scale and supply chain delivery capabilities will accelerate ProcureAbility's growth in procurement services in various industries through an expanded services portfolio. At the same time, ProcureAbility's expertise will also further enable Jabil's customers to better respond to disruptive forces in the turbulent procurement and supply chain sector.

"We are excited to join the Jabil team to deliver enhanced, world-class procurement services to a global client base, backed by the strength and resources of an organization known for its supply chain expertise and procurement practices," stated Conrad Snover, CEO of ProcureAbility. "This union between two industry leaders, both keenly focused on delivering service excellence, comes at an opportune time as ProcureAbility continues to experience rapid growth and Jabil looks to meet the high demand from clients for expertise in procurement services."

Following the deal, ProcureAbility will continue to operate independently, but will move ahead with its expansion plans backed by Jabil's supply chain expertise and global footprint. Throughout the process, Equiteq served as the exclusive M&A advisor for ProcureAbility.

According to Snover, Equiteq was “an excellent advisor and provided trusted, highly valuable insights throughout the process”. ProcureAbility Chair John Evans also remarked that the firm “couldn’t have done it without them, and [ProcureAbility] really enjoyed the partnership.”

Adam Tindall, managing director, and Alex Floess, director at Equiteq added, “It was a privilege working with the ProcureAbility team over the course of this transaction.  They have clearly built a very strong platform, and this platform is now extremely well-positioned for longer-term growth by joining forces with Jabil.  We are very pleased about the outcome and wish both parties the best going forward.”