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Investcorp Acquires a Majority Stake in CrossCountry Consulting, a Leading Business Advisory Firm
 

The transaction represents Investcorp’s 5th investment in professional services firms and is expected to accelerate CrossCountry’s growth as it expands both geographic presence and service offerings
 
7, December 2022 – Investcorp, a leading global alternative investment firm, today announced its acquisition of a majority stake in CrossCountry Consulting (“CrossCountry,” or “the Company”), a leading independent provider of specialized financial and accounting advisory services in the United States. Investcorp is leading a consortium of global institutional investors alongside the Company’s founders and existing financial sponsor. 
 
Founded in 2011, CrossCountry provides accounting, finance, risk, operations, cybersecurity, and technology-enabled transformation solutions for the Offices of Chief Financial Officers in public and private organizations. The Company has over 700 professionals and currently represents clients across a wide variety of industries including private equity, financial services, life sciences, real estate and hospitality. Its footprint has grown significantly over the past 10 years with professionals located across the United States and globally in Ireland, South Africa and the Philippines. 
 
Ali Alrahma, Private Equity Specialist for Investcorp’s Private Wealth commented, “In an environment of increasingly complex financial and accounting standards and increased market uncertainty, there is a growing trend of outsourcing financial and accounting services to specialist advisory firms such as CrossCountry.In this fast-growing environment, we believe CrossCountry is well-positioned to continue to grow rapidly and gain market shares. We look forward to leveraging our expertise investing and creating value in professional services firms to help CrossCountry in its next phase of growth.”
 
Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, “Demand for the kind of technology-driven, bespoke advisory services that CrossCountry provides is set to grow rapidly, and CrossCountry is one of the most respected names in the field, with a hard-earned reputation for exceptional client service. Our partnership will support the firm to optimize operations, expand service offerings, minimize risks and drive future growth.”
 
“As we continue to expand our reach, our partnership with Investcorp puts us in the best position to solve new, complex challenges for our clients, while growing our exceptional team,” said Erik Linn, Co-Founder and Managing Partner of CrossCountry Consulting. “We owe much of our success over the years to our incredible clients and employees; we believe Investcorp is the right partner with whom we can expand our capabilities, and we look forward to a new, exciting chapter of growth together.”
 
Investcorp has a long history of investing in professional services firms in the United States with notable investments including AlixPartners, ICR, Resultant and United Talent Agency.

 


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 4883 times
PR Category : Banking & Investments
Posted on : Wednesday, December 7, 2022  12:41:00 PM UAE local time (GMT+4)
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