Press Room
Grant Thornton advises CIPD on £3 million acquisition
The Chartered Institute of Personnel and Development (CIPD) has
acquired Bridge Partnership, a business transformation and strategy
consultancy for £3 million. Grant Thornton acted as lead advisers
and undertook financial due diligence for CIPD.
CIPD, which is a registered charity, has identified a need for
greater capacity to lead thinking at the most senior level of the
HR profession. In acquiring Bridge, the CIPD says it is
accelerating the Institute’s ability to meet its strategic
objectives, as well as acquiring a financial asset in the form of a
well regarded consultancy with a globally recognised customer
base.
Bridge's clients include Tesco, BP, Asda, Cadbury, PepsiCo and HSBC
as well as clients in the public sector.
The acquisition of Bridge by CIPD is the second deal Grant Thornton
has worked on for a registered charity in recent weeks following
the acquisition of AIM-listed home-care provider Claimar Care Group
in September.
Grant Thornton's Head of M&A David Brooks commented: "Charities
are always very aware of their revenue streams but we are seeing
more of them consider the benefits of mergers and acquisitions to
achieve both strategic and financial objectives. There is real
commercial thinking behind the deal.
"This acquisition will enable the CIPD to draw on Bridge’s
insight-led thinking and applied expertise in organisational
development in driving sustainable performance in organisations.
But it should also prove an excellent commercial decision", he
concluded.