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Frenger International has advised the 2nd largest independent consulting firm on the French market, Solucom, on its acquisition of leading specialist management consultancy focused on strategic ICT advisory Hudson & Yorke Ltd. This acquisition forms part of the French group’s international expansion plans.
Founded in 2006, Hudson & Yorke offers support to clients conducting large-scale ICT sourcing programmes in the UK, Europe or globally. The firm’s client portfolio comprises several international brands such as Barclays, BP, UBS and Zurich.
For the current fiscal year (ending 31 March 2015), Hudson & Yorke is expecting a turnover of over £3.5m (circa €4.7m) with a double-digit operating margin.
This new success demonstrates once again Frenger’s ability to identify attractive acquisition targets for its clients. For this transaction; the Frenger M&A team was led by Jean-Noel Mermet, with the support of Nicolas-Pierre Baume.
This transaction is in line with Solucom’s strategy to gradually extend its international reach. The acquisition of H&Y offers Solucom the two-fold opportunity of gaining a foothold in a key consulting market and strengthening its client portfolio with the addition of blue chip multinationals. The merger will also enable Solucom to provide its French clients with better advice for their UK-based operations.
H&Y’s founding directors, Harry McDermott and Mike Newlove, will continue to lead the company and will join Solucom’s Executive Committee.
Solucom is a management and IT consulting firm, listed on Euronext Paris (LCO). Solucom has access to the collective skills of more than 1,400 employees to serve its clients’ needs, and ranks amongst the top 200 major companies and local authority bodies. The group’s mission is to place innovation at the heart of business, to target and steer value-creating transformations and to turn IT into real assets designed to serve corporate strategy.
Frenger International Ltd is a Mergers & Acquisitions boutique specialized in the initiation and management of cross-border acquisitions in Europe. Based in London since 1983, Frenger International has completed more than 60 transactions on behalf of French and British acquirers across many sectors.