Wallace advises Efficio on investment by Livingbridge
Wallace advises Efficio on investment by Livingbridge
Wallace has acted for the shareholders of Efficio for over a decade. The firm has been Efficio’s preferred legal advisers throughout its significant growth period and when the founding shareholders decided to seek private equity investment, Wallace was asked to manage the legal process. The process identified Livingbridge as the preferred bidder and culminated in an inward minority investment by the Private Equity firm in early January 2016. This was a large, complex deal, accomplished to a demanding timescale.
DC Advisory were Efficio’s corporate finance adviser, Olswang acted for Livingbridge and Addleshaw Goddard advised HSBC, the debt provider.
Efficio, a procurement specialist, has enjoyed double-digit growth year on year over the last 15 years. It works with clients across the world to help them achieve breakthrough results in their procurement functions. With revenues of over £30m, the firm achieves sustainable results for its clients by helping them to identify, deliver and sustain benefits in procurement.
The company has evolved significantly over the last two years, to offer a much broader spectrum of services than traditional procurement consulting. It currently has around 250 employees based in offices in Europe and North America as well as its London headquarters. To date it has undertaken projects across six continents in more than 30 different countries.
The investment by Livingbridge will help Efficio to accelerate its growth trajectory over the coming years while retaining the stability of its established leadership team.
John Woodhouse, Corporate Partner, Wallace commented:
“We have enjoyed a long-term relationship with Efficio advising on all aspects of its business over the years. We are delighted to have assisted in bringing in the Livingbridge investment and we look forward to working with the management team through the next stage of the company's evolution.”
Jens Pedersen, Chief Executive, Efficio commented:
“John and his team made a big difference for us, navigating us through a complex process in a very tight timeline to ensure a great result for the Efficio group and management.”
“John and his team made a big difference for us, navigating us through a complex process in a very tight timeline to ensure a great result for the Efficio group and management.”