Coutts Consulting Group

US company, Right Management Consultants, has entered a preliminary agreement with 3i to acquire the Coutts Consulting Group, for an amount believed to be in the region of £74m to be paid by cash, purchase price notes and debt. 3i acquired a ratcheted majority equity stake in Coutts when it took the company private in 1999, in a deal worth £40m.

Since the buyout Coutt’s turnover has increased from £42m, in the year to December 1998, to around £63m last year. Right Management Consultants, based in Philadelphia, expects its turnover for 2001 to be in excess of $313m. The move to acquire Coutts is part an expansion strategy, giving Right access to markets in Europe and Japan where it currently has no business.

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