Technology Holdings advises UK consultancy Magnetic on sale to Newton
Magnetic has joined forces with Newton, in a deal that was advised by Technology Holdings.
Announced yesterday, the addition of Magnetic sees Newton add a team of 70 consultants to its ranks in the UK. Formed in 2021 via the merger of Fluxx and magneticNorth, Magnetic specialises in design and innovation services, with key offerings including developing immersive brand experiences, digital product design and development, and design thinking.
Commenting on joining forces with Newton, Jenny Burns, CEO of Magnetic, said, “We believe in the power of design to accelerate progress and create positive, sustainable impact. In Newton, we’ve found kindred spirits with strongly complementary skills that will combine to deliver a more holistic approach for more impactful outcomes.”
Headquartered in the United Kingdom, Newton has more than 450 consultants, working with clients across a range of management consulting and digital transformation topics.
“We were convinced that we’d found the right fit with Newton when it became apparent that both companies shared so many similarities – high growth rates, big ambitions to create positive change at scale, and cultures underpinned by strong values,” said Jenny Burns, CEO of Magnetic.
Behind the scenes, the sale process was guided by Technology Holdings, a global boutique investment bank with a presence in 11 countries across 4 continents, and a track record of closing transactions in 24 countries. Technology Holdings is particularly active in the consulting space.
Reflecting on the deal, Vivek Subramanyam, Founder and CEO of Technology Holdings said, “We are excited to have closed this deal with Newton – our 25th consulting deal. This deal highlights Technology Holdings’ focus on the strategic consulting market, along with the broader digital services arena, with our expertise extending across every facet of the industry. We wish Magnetic much success in this partnership with Newton.”
In addition, Bruce Green, Director in the UK team of Technology Holdings added, “We are thrilled to have supported the Magnetic shareholders on this transaction. This represents Newton’s first acquisition since the investment from private equity fund, ICG, and the addition of ‘tip-of-the-spear’, innovation capabilities mimics many of the other major consultancies that have also brought these skills in-house through M&A.”
“The deal is a fantastic example where the cultural fit felt as strong as the strategic fit. We look forward to following their journey with Newton in the years ahead.”
