Bahrain-based leading global alternative investment firm, Investcorp has acquired a majority stake in CrossCountry Consulting, a leading independent provider of specialized financial and accounting advisory services in the United States.
Founded in 2011, CrossCountry provides customized finance, accounting, human capital management, risk, operations, and technology consulting services to various businesses.
The Company has over 700 professionals and currently represents clients in the private equity, financial services, life sciences, real estate, and hospitality sectors, among others.
According to the company, “Public Sector Pension Investments (PSP Investments) and RLH Equity Partners will continue as an investor. CrossCountry founders, Mr. Dave Kay and Mr. Erik Linn, continue to be significant shareholders.”
The transaction represents Investcorp’s 5th investment in professional services firms and it is expected to accelerate CrossCountry’s growth as it expands both its geographic presence and service offerings. The terms of the acquisition were not disclosed, as per the statement.
“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.”
Mr. Erik Linn, Co-Founder and Managing Partner of CrossCountry Consulting, said that, “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.”
“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,” Mr. Linn added.