Baird acquires Alpha for £28m

Following the deal, Baird will support the company's aim to expand its customer base, access cross-selling opportunities and develop a presence in the US.

The deal highlights private equity's growing interest in the consultancy space, with Alpha attracting eight buyout bidders. 

Company
Established in 2003 by Nick Kent, Alpha is headquartered in London. The company provides consulting services focused on back- and front-office information technology, benchmarking, acquisition integration, compliance and regulatory and operational improvements.

Alpha employs around 100 consultants and operates through offices in Luxembourg, New York and Paris. Clients include Aberdeen, BNY Mellon, BNP Paribas, Northern Trust and Pioneers.

This year, the company generated a turnover of more than £20m.

People
Baird managing directors Andrew Ferguson and Chris Harper will join Alpha's board of directors, alongside Baird operating partner Tim Trotter, who will serve as non-executive chairman.

Euan Fraser is CEO of Alpha. Nick Kent was previously CEO of Alpha and is now chairman. 

Advisers
Vendor - Corbett Keeling, Jim Keeling (Corporate finance); Equiteq, Phil Baxter (Corporate finance); Bird & Bird (Legal).

Equity - Eversheds (Legal); Grant Thornton (Financial due diligence); Roland Berger (Commercial due diligence); Willis (Insurance due diligence); Intuitus (IT due diligence).

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