2000
PA Consulting Group sells impact executives to Harvey Nash Group
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10 October 2000
PA Consulting Group today announced the sale of its interim management supply business, impact executives, to Harvey Nash Group, the international Resource Solution Group. The "impact executives" name will be retained and the new operation will become a market leading senior level interim supply business. The deal is valued at £5.9m with further deferred consideration of up to £4.1m depending on performance.
Jon Moynihan, Executive Chairman of PA Consulting Group, commented, "We venturised impact executives at the same time as we divested our global recruitment business because we recognised that this was a separate business from our core consulting business and required a different approach and model. As a PA venture, impact executives has enjoyed strong growth, particularly in the UK, Germany and the Far East. It was always the company’s intention to consider a future sale or possible flotation, and we believe that the offer from Harvey Nash – an extremely well respected player in the market – offers great opportunities for the impact executives team."
John Murray, Chief Executive of impact executives, explains, "Market trends indicate strong global growth for interim management due to increased M&A activity and the transformation of business practices to embrace new technology. We will be well placed to respond to these challenges, offering our clients the combined strength of our portfolio of interim managers and well-developed business systems."
The transaction will see PA’s impact executives business joining forces with Harvey Nash’s IT interim business, under the impact executives banner. This represents the combination of a leading senior level supplier and a successful IT niche business, both with particular strengths and capabilities. This acquisition will further add to Harvey Nash’s Consulting division in Germany and provide a key foothold in the fast growing Far Eastern interim supply markets.
John Murray concludes: "In Harvey Nash we have found a highly complementary partner, one that shares our commitment to quality and excellence in all our assignments. We’re very excited about this deal, which we believe will create a powerful force in the interim market. For our interim managers, it means broader and more global opportunities. More importantly, it will enable us to meet the growing demands of our client base through a broader network of offices and a combined team of really first-class interim managers. Recent trends in the interim management market reinforce the logic of this transaction: change will continue to be implemented by experienced senior managers supported by expert IT project managers."
For more information, please contact:
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| PA Information Enquiry |
| PA Consulting Group |
| 123 Buckingham Palace Road |
| London |
| SW1W 9SR |
| United Kingdom |
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Tel: +44 20 730 9000 |
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E-mail:
info@paconsulting.com |
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Notes to editors
About impact executives
Formerly PA Interim Management, which was founded n the UK in 1990, impact executives is a global interim manager supply firm, owned jointly by its employees and PA Consulting Group. Based in London, where it has a leading market share, it has further offices in Germany and Hong Kong, from which it furnishes clients in all sectors with solutions to temporary management resourcing difficulties.
About Harvey Nash
Harvey Nash is a leading international resource solutions group providing specialist IT, telecoms and internet professionals across Europe. The group operates through three divisions: consulting services, resourcing services and on-line services. Founded in 1988, the company is headquartered in London and has offices throughout Europe, the USA and Australia with a network of 23 offices in total.
The group turnover for 1999/2000 was £151.0m, an increase of 44% on 1998/99 revenues of £104.9m. The group currently employs over 600 staff across all of its businesses.
About PA Consulting Group
PA Consulting Group is a leading management, systems and technology consultancy, with a unique commitment to the integration of these capabilities. Established almost 60 years ago, and operating worldwide from over 30 offices in some 20 countries, PA draws on the knowledge and experience of about 2,700 employees, whose skills span the initial generation of ideas and insights all the way through to detailed implementation, including:
- Strategic management, and managing for shareholder value
- Accelerating business growth, especially through innovation and technology
- Improving business design and performance, including customer relationship management, enterprise-wide systems for the supply chain, and full e-business solutions
- Mobilising human resources
- Delivering change effectively, including projects and programmes.
PA focuses on creating benefits for clients rather than merely proposing them, and this focus is supported by an outstanding implementation track record in every major industry and for governments around the world. PA also develops leading-edge technology both for its clients and within its own portfolio of venture companies in areas ranging from software to wireless technology to life sciences.
PA distinguishes itself from its competitors through the range and quality of its people, its development and use of technology, and also its independence. PA’s work in every area from strategic management to project delivery is enhanced by its expertise in all the other areas. PA’s consultants, whatever their special skills, all share:
- A highly commercial approach to clients’ problems and opportunities
- A technologically sophisticated view of both the industry sectors we serve and the solutions we deliver
- A culture of respect, collaboration and flexibility in working with our clients to achieve their aims.
We are proud that our clients say "PA makes it happen".
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