Bahrain’s Investcorp buys majority share in US firm

CrossCountry Consulting, a top independent provider of specialist financial and accounting advice services in the United States, has been acquired by Investcorp, a prominent worldwide alternative investment firm, for a controlling share. Along with the founders of the company and its current financial sponsor, Investcorp will now be heading the group of international institutional investors.

Catering to the Offices of Chief Financial Officers in both public and private businesses, CrossCountry offers accounting, finance, risk, operations, cybersecurity, and technology-enabled transformation solutions. The company today covers clients in a wide range of industries, including private equity, financial services, life sciences, real estate, and hospitality, and it employs over 700 people. Over the past ten years, it has expanded dramatically, with specialists now spread across the United States as well as internationally in Ireland, South Africa, and the Philippines.

There has been no public comment as to the specifics of the acquisition.

According to Ali Alrahma, a private equity expert with Investcorp’s Private Wealth: “In an environment of increasingly complex financial and accounting standards and increased market uncertainty, there is a growing trend of outsourcing financial and accounting services to specialist advisory firms such as CrossCountry.In this fast-growing environment, we believe CrossCountry is well-positioned to continue to grow rapidly and gain market shares. We look forward to leveraging our expertise investing and creating value in professional services firms to help CrossCountry in its next phase of growth.”

Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, in his comment, said: “Demand for the kind of technology-driven, bespoke advisory services that CrossCountry provides is set to grow rapidly, and CrossCountry is one of the most respected names in the field, with a hard-earned reputation for exceptional client service. Our partnership will support the firm to optimize operations, expand service offerings, minimize risks and drive future growth.”

“As we continue to expand our reach, our partnership with Investcorp puts us in the best position to solve new, complex challenges for our clients, while growing our exceptional team,” said Erik Linn, Co-Founder and Managing Partner of CrossCountry Consulting. “We owe much of our success over the years to our incredible clients and employees; we believe Investcorp is the right partner with whom we can expand our capabilities, and we look forward to a new, exciting chapter of growth together.”

A number of noteworthy American professional services companies that Investcorp has backed throughout the years include AlixPartners, ICR, Resultant, and United Talent Agency.

Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.

Contact us