BrazilPA Consulting worth €2 billion following Jacobs deal
Global professional services firm Jacobs has completed its acquisition of PA Consulting, valuing the international management consulting firm at more than €2 billion.
In December last year Jacobs announced that it has acquired a 65% stake in PA Consulting from Carlyle, which held a majority stake in the firm since 2016 alongside PA Consulting’s management team and employees. PA’s employees have retained their 35% share, with the Jacobs deal valuing PA Consulting at £1.825 billion (just over €2 billion).
Commenting on the closing, formalised yesterday, CEO of PA Consulting Ken Toombs said: “The overwhelming support of PA Consulting shareholders [99.9% approved the deal] for the transaction is a testament to the great potential we all see in this partnership.”
According to the CEO, the joining of forces will enable to broaden and deepen its offerings, invest more in innovation and digital solutions, expands its network to new clients, segments and geographies, and provide its 3,200-strong workforce with wider opportunities for professional and personal development.
“This marks the beginning of an exciting new chapter for PA,” said Toombs. Meanwhile, while “Jacobs’ culture and values are closely aligned to our own, making them a natural partner… the partnership respects and preserves PA’s independence and heritage”, meaning the consulting firm will maintain in control of its own destiny.
With approximately 55,000 employees generating $14 billion in revenue, US-headquartered Jacobs is a global powerhouse in the professional services industry. The firm provides consulting, technical, scientific and project delivery services to clients in the public and private sector.
UK-headquartered PA Consulting will serve as Jacobs’ strategy and management consulting division, working with clients on shaping strategies and delivering change and innovation. The range of other services Jacobs provides will be slotted in when required to provide for an “end-to-end offering to clients,” said Jacobs Chair and CEO Steve Demetriou.
