June 14, 2024

Investcorp gains a majority share in CrossCountry Consulting

Facebook
Twitter
LinkedIn
Ali Alrahma, Private Equity Specialist for Investcorp’s Private Wealth. Image Courtesy: Investcorp

Investcorp, a global alternative investment firm, today announced its acquisition of a majority stake in CrossCountry Consulting, an 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.

Terms of the acquisition were not disclosed.

Source

Share.

RELATED POSTS

Alex Saleh Managing Partner at GLA and Dr Habib Al Mulla Founder of Habib Al Mulla and Partners and Nader Al Awadhi Senior Partner at GLA
Habib Al Mulla & Partners and GLA & Co join forces to propel legal excellence
Dukkantek partners with Retailhub
Dukkantek partners with Retailhub
Justin Young, Chief Executive Officer. RICS.
RICS onboards Justin Young as CEO
  • Tamkeen Insurance banner
  • International Assurance

LATEST POSTS

Image used for representational purpose (Image by wirestock on freepik)
Commvault Appoints Ziad Aboumerhi As Country Manager Qatar to boost its Middle East Operations and Qatar's Cybersecurity Operations
360tf and Traydstream Alliance To Digitize Trade Finance Solutions  by supporting corporates in financing, saving time and money on document processing, and allowing them to focus on their core business
Danfoss Drives And Honeywell Partnership Boosts Automation Solutions