GCP realises its investment in Chaucer
Growth Capital Partners (GCP), a UK SME private equity firm that specialises in partnering with owner-managers, has realised its investment in Chaucer Consulting (Chaucer), one of the UK’s leading challenger consultancies specialising in people-led digital transformation in the UK and US.
The deal will see Chaucer partner with Business Integration Partners (BIP), an Italian headquartered international consultancy.
GCP backed Chris Laslett and the senior Chaucer management team in February 2014, since then the business has doubled revenue and profit. Chaucer has expanded its digital-led services capability, widened its customer base, acquired the CIO advisory consultancy Virtrium and doubled consultant headcount to over 300 people. It has also been recognised as one of the UK’s leading consultancies by the Financial Times.
BIP was founded in 2003 and is headquartered in Milan, Italy. Over the past 17 years, BIP has grown to become a leading international challenger consultancy with more than 2,700 professionals across 12 countries and offices in Italy, EMEA, North and South America. The investment in Chaucer will allow BIP to expand their offering in the UK and the US whilst being a natural fit with BIP’s strategic goal to become one of the top international consulting companies in the world.
The deal provides a material exit for GCP and a strong return for GCP Fund III. As part of the deal, GCP has reinvested for a minority shareholding as it continues to support Chaucer’s ongoing growth strategy with the BIP Group.
Chris Laslett, CEO of Chaucer, says: “GCP has been an excellent partner for Chaucer over the past six years. They have proved to be supportive and flexible, often through difficult macro conditions, whilst providing the right balance of independent challenge, sector experience and hands on support as we have grown the Chaucer business. We thank them for all of their efforts and we are excited to continue the next phase of our journey with the BIP Group.”
Garrett Curran, Managing Partner at GCP, says: “It has been a pleasure working with Chris and the wider team and to have supported Chaucer over the last few years of evolution to become an exciting digital transformation consultancy of scale. In combination with the wider BIP Group, Chaucer will be well placed to take advantage of the strong growth trends across its core markets. This is a fantastic opportunity for the team and we wish them all the very best for the future.”