Linklaters has advised The Carlyle Group on its exit of global innovation and transformation consultancy PA Consulting to Jacobs, valuing the business at £1.825 billion. Carlyle invested in PA Consulting in December 2015 through Carlyle Europe Partners IV (CEP IV). PA has grown strongly during Carlyle’s investment period, through a combination of organic and M&A-led growth which has driven global expansion.
The Linklaters team was led by partner Chris Boycott and included partner Alex Woodward, managing associate Lauren Bretton and associates Frances Hibbert and John Tsui. Partner Christian Ahlborn and managing associate Mark Daniel advised on the anti-trust and foreign investment aspects.
The exit of CEP IV’s stake in PA is another example of Carlyle’s strategy of working in partnership with management teams to execute value creation initiatives. Linklaters recently advised The Carlyle Group on its investment in Calastone, the largest global funds network.
The transaction is structured as a UK scheme of arrangement and is expected to close by the end of Q1 2021, subject to regulatory and shareholder approvals.
