Flint lands private equity investment from Cinven
Flint has become the latest consulting industry player to take on investment from private equity firm Cinven. The agreement will see minority shareholder GCP exit its stake.
Founded in London in 2015 by Ed Richards and Sir Simon Fraser, Flint is a consultancy helping businesses and investors navigate the intersections of policy, regulation, competition and politics across European and global markets. With offices in London, Brussels, Paris, Berlin, Amsterdam, Hong Kong and Singapore, the firm boasts an international network of senior advisors.
As it looks to expand its services for major corporates, financial institutions, and investors in Europe and Asia-Pacific, the firm has taken on new funding. The transaction, which will be completed by year’s end, will see Cinven become Flint’s new private equity partner.
Commenting on the investment, Flint’s CEO James Purnell said, “We are thrilled to be partnering with Cinven at this pivotal moment in Flint’s journey. Their backing will enable us to build on our strengths, invest in our people, and offer our services in more markets. Together, we are ideally positioned to provide great service for our clients and even better opportunities for our colleagues.”
Cinven is set to acquire Flint from investors GCP, who made a minority investment in the company in 2021, alongside the partner group. While further details of the transaction have not been disclosed, the co-founders and partner group of Flint will remain “significant investors in the business”.
Anthony Cardona, a partner at Cinven, remarked, “We are delighted to be investing in Flint and to work with the founders and the partner group to drive the firm’s next phase of growth. Flint’s technical expertise, high-quality client base, and exceptional people provide a strong base for the future. We look forward to working with the team to internationalise the business further and accelerate the firm’s growth, including by extending its practice areas, supporting M&A, and enhancing the proposition for institutional investors.”
The news comes a year after Cinven made major news in the UK consulting market, as it invested in Grant Thornton. Following Cinven’s latest acquisition in the sector, GCP will exit from Flint, having helped the firm to double its EBITDA.
Garett Curran, GCP’s managing partner, added, “Since our initial investment in 2021, Flint Global has expanded its geographic footprint to new markets in Europe and Asia, broadening its service offerings and continuing to build the brand – this has been a remarkable journey.”
Flint Global’s shareholders received M&A advice for the transaction by Alantra. Pinsent Masons provided legal support, while Liberty Corporate Finance handled management advisory aspects.
