Lower mid-market private equity firm Lonsdale Capital Partners today announced it was backing the merger of its portfolio company, programme management consultancy P2, with business change consultants Certeco.
The deal follows another bolt-on acquisition for P2, of financial crime advisers FS101, as Lonsdale aims to create a consulting firm to challenge the dominance of the current “top tier”.
Lonsdale has also boosted P2's international expansion, after investing through a management buyout last year.
“The merger of P2 Consulting and Certeco is a very significant milestone in our plan to create the world leader in project and programme management," said James Knott, director at Lonsdale Capital Partners.
"There are very few businesses in the UK or Europe with the breadth and depth of specialist services that the combined business now provides."
The new company’s capabilities will span portfolio and programme assurance, project and programme delivery, business architecture and design, testing and quality assurance, and implementation.
Both P2 and Certeco already have an established blue chip client base, and the combined business will now offer services to cover the transformation lifecycle for blue chip firm engaged in business change.
"At P2 Consulting, our very essence is around the lifecycle of clients' transformation programmes – taking the strategy and focusing on the design and delivery of the programme to help our clients realise their vision," said Doug Elliott, chief executive of P2 Consulting and the CEO of the newly formed company.
"The services P2 and Certeco offer are very complementary. Together, we will be able to provide a broader range of consultancy services to the market, thereby moving us towards our vision of being a real challenger to the big consultancies.”