LONDON, 28 October 2013
Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that its U.K. private equity group has bought a majority stake in Alpha Financial Markets Consulting (Alpha), a leading international provider of management consultancy services to the asset and wealth management industries. The transaction values the company at £28 million.
Founded in 2003 by Nick Kent and headquartered in London, Alpha provides a range of consulting services with respect to back and front office improvements, information technology, benchmarking, acquisition integration, compliance, and regulatory and operational improvements. Alpha employs almost 100 consultants and has locations in Luxembourg, New York and Paris, servicing C-level executives of some of the largest global asset managers and service providers including: Aberdeen, BNY Mellon, BNP Paribas, Northern Trust and Pioneer.
Alpha has established a solid European platform and strong UK market position, and turnover has grown consistently since inception, to more than £20 million in the current year. Baird Capital will leverage its international network and significant experience in the Business Services sector to further expand Alpha’s European customer base, access cross-selling opportunities and continue to develop its business in the U.S. Baird Capital managing directors Andrew Ferguson and Chris Harper will join Alpha’s committed and high calibre board of directors, along with Baird Capital Operating Partner, Tim Trotter, who will serve as Non-Executive Chairman.
Commenting on the transaction, Andrew Ferguson, Managing Director with Baird Capital, said:
“We are pleased to partner with the Alpha management team and look forward to applying our resources to build on the company’s success. The financial services sector is facing significant challenges and Alpha has built a strong reputation as a solution oriented consulting firm with a highly differentiated offering.”
Euan Fraser, CEO of Alpha, commented:
“We are delighted to be working with Baird Capital going forward, to advance the position of Alpha as a leading, top-tier, management consultancy. Baird’s deep understanding of the financial services industry and their global network will be valuable as we look to drive our growth both domestically and abroad.
“This deal is a powerful endorsement of the niche financial services consulting industry in the UK. The growth of Alpha into a substantial and mature consulting business and the emergence of a number of niche consulting firms at the expense of bigger consultancies, including the ‘Big 4’, demonstrate the attractiveness of the specialist model in providing high-quality, focussed client service and providing more attractive career development for staff.”
Notes to editors
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Baird Capital’s U.K.-based private equity team invests in U.K. lower middle market companies in the Business Services, Industrial and Consumer Products, and Healthcare sectors. Baird Capital leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a pro-active portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information and important disclosures, please visit BairdCapital.com. Baird Capital Partners Europe Ltd. is authorised and regulated by the Financial Conduct Authority.
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