Duff & Phelps doubles team in Spain with acquisition of Forest Partners

11 February 2019 Consultancy.eu

Within two weeks of announcing the acquisition of Prime Clerk in the US, Duff & Phelps has completed the purchase of Forest Partners. The deal sees over 50 professionals operating from offices in Madrid, Barcelona and Bilbao join the Spanish arm of the global professional services firm.

Founded in 2007, Forest Partners is a Spanish consultancy specialised in financial and economic advisory, M&A and transactions support, and turnaround and restructuring, Recent projects the firm completed include advising on the sale of transport provider Maitours to Asla, the Spanish subsidiary of the UK-based National Express Group (valuation services to the seller), and assisting B&B Trends, a Spanish manufacturer of small household appliances based in Catalonia, in its purchase of BSH Home Appliances Group. the ironing business unit of Bosch in Spain. 

The Madrid-headquartered company also supports clients in major disputes in Spain and Latin America under Spanish and international arbitration courts with forensic & litigation services, as an expert advisor or as an insolvency administrator. The firm for instance was recently appointed administrator of a large Spanish retail group for domestic appliances and consumer electronics, following its collapse, and as part of its insolvency work with stakeholders and the new owner, Forest Partners managed to ‘rescue’ nearly 500 jobs in Spain’s high street.

Commenting on the acquisition, Javier Zoido, Managing Director and Head of Duff & Phelps’ Valuation Advisory Services practice in Spain, said: “Forest Partners’ market leading expertise greatly enhances our ability to assist clients in their most complex situations. Their addition to Duff & Phelps expands our Spanish footprint to bring best-in-class services to our clients in Spain and globally.”Duff & Phelps doubles team in Spain with acquisition of Forest PartnersWith 25 offices across Europe, Duff & Phelps is one of the continent’s larger consultancies focused on corporate advisory, restructuring and forensic and litigation support. Three of the firm’s offices are based in Spain (Madrid, Barcelona and Bilbao), with the takeover doubling the local team to approximately 100 professionals.

As part of the integration, the founder of Forest Partners, Vicente Estrada, will lead Duff & Phelps’ Governance, Risk, Investigations and Disputes practice in Spain. The new partner at Duff & Phelps, who previously spent two decades with KPMG in Spain, latterly as a partner in the Big Four’s corporate finance arm, will report into Carl Jenkins, who leads the firm’s global Governance, Risk, Investigations and Disputes wing. 

According to Estrada, the joining of forces builds on a base of “shared value values of excellence in professionalism, experience and effectiveness” and a complementary service portfolio. “Becoming part of Duff & Phelps provides us with the opportunity to leverage a global network and resources to continue to provide added value for our clients.”

The move comes at a time when Spain’s consulting industry is on a healthy growth trajectory. According to analyst firm Source Global Research, the market has enjoyed five successive years of growth, and is currently valued at around €1.4 billion.

PwC bolsters Salesforce arm in Benelux and France with ABSI deal

09 April 2019 Consultancy.eu

Accounting and consulting firm PwC has bolstered its Salesforce portfolio in the Benelux with the acquisition of ABSI. The move adds around 100 consultants and technology experts to its Salesforce practices in the Netherlands, Belgium and France. 

The move comes at a time when demand for Salesforce implementation services is rising rapidly. Salesforce is a provider of cloud-based systems that help companies build and nurture their (potential) clients through a rigorous and personalised customer relationship management approach. Over 150,000 companies today use Salesforce CRM to support their sales, service, commerce, marketing and e-commerce objectives. 

In the Benelux, ABSI was Salesforce’s first certified partner, back in 2002, and the firm has since grown into one of the region’s larger IT consultancies dedicated to the Salesforce platform. The company specialises in the implementation of Salesforce systems, the design of blueprints and business processes, the migration of data, and application integration.

“In a world that is digitising, organisations want to offer a personalised experience to customers, employees and business partners,” explained Maarten van de Pol, who leads PwC Advisory in the Netherlands. “The technological ecosystem of Salesforce meets this need – with the acquisition, PwC is strengthening its fast-growing digital transformation services on the Salesforce backbone.”PwC bolsters Salesforce arm in Benelux and France with ABSI dealThe integration sees ABSI’s 100-odd employees in Belgium (where the company was founded in 1995 in Brussels), the Netherlands (located in Nieuwegein, close to Utrecht) and France (Paris) join PwC’s ranks. As well as adding deep Salesforce expertise to its offering, PwC also expects to benefit from ABSI’s experience and propositions in the area of Dell Boomi, Sitecore, ServiceMax, Riva, Neurored and Ebsta. 

Doubi Ajami, founder and CEO van ABSI, remarked on the deal; “PwC and ABSI complement each other perfectly. Together we will be able to better serve our customers. While our focus remains 100% on Salesforce, thanks to the power and network of PwC we will also be able to work on broader projects at a strategic digital level.” 

PwC’s acquisitions in the Benelux build on previous Salesforce deals globally. At the end of 2017 the consulting firm for instance acquired UK-based cDecisions, shortly after it also bolted-on a Salesforce specialist in South Africa. The investments are part of PwC’s broader strategy to ramp up its technology consulting arm, amid a booming market for digital transformation services.  

Recently, PwC was named one of the globe’s top advisory and implementation partners for the Salesforce platform.