Project management consultancy TSA Management has swapped private equity hands, with its ownership transferring from UK private equity firm Livingbridge to homegrown investor Quadrant Private Equity.
Livingbridge invested in TSA Management in December 2017, with the objective of helping the Australian consultancy expand into new sectors and geographies. According to leaders at Livingbridge and TSA Management, the partners have – despite the Covid-19 crisis and its aftermath – been able to realise their joint ambitions over the past three years.
Andrew Wilson, CEO of TSA Management, said: “Livingbridge’s expert guidance and financial support have been instrumental in helping us fulfil our potential. They invested the energy to understand what makes TSA special and supported investments in initiatives that have helped us go from strength-to-strength.”
Following Livingbridge’s exit, which was advised on by Rothschild (M&A), L.E.K. Consulting (commercial), PwC (financial and tax) and Minter Ellison (legal), TSA “now looks forward” to its partnership with Quadrant, said Wilson. The Sydney-based investor has closed over 60 investments since its inception in 1996, including in technology services group Arq. This deal is understood to be worth more than $200 million.
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