P2 Consulting, the leading project and programme management consultancy and Certeco, one of the UK’s largest independent business change consultancies, have today announced they have signed an agreement to merge the two companies.
The deal is backed by Lonsdale Capital Partners, the private equity firm focused on the lower mid-market, which funded a management buy out of P2 in December 2016. The Certeco transaction follows P2’s recent acquisition of FS101, a financial crime consulting firm, and international expansion, and is part of a wider “buy and build” strategy to create a consulting services firm that will challenge the market dominance of established “Top Tier” consultancies.
The objective is to combine P2 and Certeco to increase the range and depth of expertise that can be offered to clients. Both companies’ services are highly complementary and they both have a similar blue chip client base. The combined business will offer new capabilities that span the transformation lifecycle for blue chip organisations engaged in business change. The focus will be on helping organisations deliver their transformation strategy and achieve their desired outcomes. The new company’s capabilities will encompass portfolio and programme assurance, project and programme delivery, business architecture and design, testing and quality assurance, and implementation.
Doug Elliott, Chief Executive Officer of P2 Consulting and the CEO of the newly formed company says: "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. We are very excited about this transaction, as 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.”
Augusto Negrillo, Chief Executive Officer of Certeco comments: “The transaction with P2 comes at just the right time in our growth trajectory. We have actively been seeking an investment partner to achieve our strategic ambitions. The deal with P2, backed by Lonsdale, accelerates that plan, as not only will we have the financial backing to support our growth, we are instantly a number of steps further forward towards achieving our goal of being a challenger consultancy to the big four firms.”