Lonsdale buys majority stake in P2 Consulting

As part of the deal, the  GP acquired a majority stake in the business, while the company's co-founder and managing director Pip Peel will continue to lead the business as chairperson. According to a statement, the management team aims to use the fresh capital to expand the business internationally across new market sectors and geographies.

Lonsdale recently closed its debut fund on its £110m hard-cap in April 2016. Launched in 2015, the vehicle targets companies headquartered in both the UK and mainland Europe. The deal marks the third investment for the GP's maiden vehicle, Fund 1, following the acquisition of Global Yachting Group in March 2016 and Ocean Media Group in October 2016. Prior to the fund launch, the GP had invested on a deal-by-deal basis since 2008.

Company
P2 Consulting is headquartered in London and provides project management support services. Founded in 2013, the company generated £10m in revenues in 2016, primarily from customers operating in the financial services, telecommunications and retail sectors, according to a statement.

People
Lonsdale Capital Partners – James Knott (director).
P2 Consulting – Pip Peel (founder, managing director); Douglas Elliott (managing director).

Advisers
Equity – CMS Cameron McKenna (legal); Grant Thornton (financial due diligence); CIL (commercial due diligence); BDO (tax); Jardine Lloyd Thompson (insurance due diligence).
Vendor – Addleshaw Goddard (legal); Equiteq (corporate finance).

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• Buyouts
• Support services
• UK / Ireland
• United Kingdom