The Carlyle Group announced that it has entered into an agreement to invest in PA Consulting Group for a 51% stake, valuing the London-based consulting and technology firm at $1 billion. PA employs over 2,500 people globally, and has expertise in energy and utilities, financial services, health, life sciences, consumer and manufacturing, government, defense and security, transport, and logistics. The company generated 2014 revenues of approximately $550 million.
According to the company's press release: "The partnership with Carlyle will enable PA to build on this success and to accelerate its growth plan through geographic expansion and the acquisition of consultant teams and smaller firms. Importantly, the investment will allow PA to retain independence, alongside current culture, brand and values. The continued share ownership by PA employees is a key feature of the transaction."
The transaction is expected to close in December 2015 subject to regulatory and pension approvals.
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