New partnership with Intermediate Capital Group (‘ICG’)
Blackrock Expert Services today confirms a new partnership with specialist asset manager Intermediate Capital Group (ICG) in support of the next phase of its growth plans. ICG replaces private equity house Dunedin as Blackrock Expert Services’s external investor and will provide both debt and equity financial support. The transaction values Blackrock Expert Services at £161.5m.
London, UK, 7 August 2017 – Blackrock Expert Services has grown rapidly over the last few years, tripling its revenue and significantly expanding its team of testifying experts and technical support staff.
The appointment of ICG coincides with a relocation to a new Head Office site at the Adelphi Building in London, and a refreshed brand identity which better reflects the services it provides to a growing client base. ‘Blackrock Expert Services’, as it will now be called, also positions the company for longer-term growth which is likely to include further diversification in response to demand from clients for quality service across a wider range of disciplines.
The Company has benefitted from an increased volume of construction activity not just in the UK, but also internationally where overseas sales have grown by 221% in the last 2 years. Since 2015 the company has opened up new markets in Europe, Asia and the MENA region.
David Barry, Blackrock Expert Services’ Founder, commented: “This transaction reflects the success of the second chapter in the continuing Blackrock story. The first chapter being the establishment and initial development of the company, the second being our excellent partnership with Dunedin during which time we transformed the company from a boutique consulting practice that was reliant on a small number of experts, to a forensic consulting business with real critical mass, capable of handling the largest and most complex projects across the globe.”
The new partnership with ICG, which has an established track record of supporting companies it knows well and working closely with management teams, will lend Blackrock PM the flexibility and speed to grasp growth opportunities as they arise. The company expects to significantly grow its talent pool and broaden its range of services in the next few years.
Giles Derry, COO, added: “We remain dedicated to expanding the geographies in which we operate, while maintaining the high-quality core service offering which has been the bedrock of our development thus far. In this next stage, we intend to continue developing and attracting world class expertise, and to embed our reputation as leaders in the industry.”
Media contact: David Barry/Giles Derry – +44 (0)207 836 0158
ICG is a specialist asset manager with over 28 years’ history.
It manages €23.3bn of assets in third party funds and proprietary capital, principally in closed end funds. Its strategy is to grow its specialist asset management activities to deliver increased shareholder value. Its goal is to generate income and consistently high returns whilst protecting against investment downside for its fund investors. ICG seeks to achieve this through its expertise in investing across the capital structure. It combines flexible capital solutions, local access and insight with an entrepreneurial approach to give it a competitive edge in its markets. ICG operates across four asset classes – corporate, capital market, real asset and secondary investments. In addition to growing existing strategies, ICG is committed to innovation and pioneering new strategies across these asset classes where the market opportunity exists to deliver value to its fund investors and increase shareholder value.
ICG is listed on the London Stock Exchange (ticker symbol: ICP) and provides investment management and advisory services in support of its strategy and goal through a number of regulated subsidiaries, further details of which are available at: www.icgam.com