HgCapital's Cogital bolts on Baldwins

The transaction marks the second bolt-on for Cogital since the GP launched the company in August 2016 with the acquisition of Blick Rothenberg, a UK-based accounting, audit and tax services firm.

In September, HgCapital acquired Norwegian business-process outsourcing company Visma BPO in a carve-out from portfolio company Visma. Visma BPO has since been incorporated into the Cogital group.

Despite forming part of a larger parent, Baldwins will continue to undertake its own buy-and-build strategy, targeting regional firms throughout the UK.

As part of the deal, Cogital has also appointed former Deloitte global chair John Connolly as its chairperson.

Company
Founded in 1971 and headquartered in Walsall, Baldwins is an accountancy company. The business has 27 offices across the UK and a headcount of 650.

Following the deal, the combined Cogital group will have pro-forma revenues of around £300m with 3,200 employees across the UK, Norway, Sweden, Denmark and Finland.

People
HgCapital – Thorsten Toepfer (director).
Cogital Group – John Connolly (chairperson).
Baldwins – John Baldwin (director).

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