Teneo, the global CEO advisory firm, today announced it has reached an agreement with funds advised by CVC Capital Partners ("CVC"), a leading global private equity and investment advisory firm, to make an investment in the company.
The transaction, which is subject to regulatory approval and other customary closing conditions, will result in CVC Fund VII becoming the new private equity partner to Teneo, replacing BC Partners, which became an investor in the company in 2015. The terms of the new investment are not being disclosed.
Since the investment from BC Partners four-and-a-half-years ago, Teneo has more than tripled its global headcount to over 800 people and has also completed nine acquisitions, increasing its global presence to 19 offices in 12 countries.
The investment by CVC Fund VII will provide significant opportunity for the continued growth of Teneo's operations through organic investment and acquisition focused across its four operating segments: Strategy & Communications; Management Consulting; Risk Advisory; and Capital Advisory.
"We are very pleased to welcome CVC as our new private equity partner," said Declan Kelly, Chairman and CEO of Teneo. "The new partnership will enable us to further expand our operations around the globe to best serve the growing needs of our clients. I also want to thank the great team at BC Partners for their partnership and support of our business over the last several years."
"CVC is excited to be entering a new partnership with Teneo," said Christopher Stadler, Managing Partner at CVC. "We have been very impressed with the firm's growth since it was founded in 2011 as well as its dedication to going above and beyond to deliver for its clients around the globe. We are very much looking forward to working closely with the management team to help execute their ambitious growth plans moving forward."
"During our successful partnership, Teneo has nearly doubled EBITDA, both organically and through strategic acquisitions," said Justin Bateman, Partner at BC Partners. "Since our initial investment in 2015, Teneo has executed nine acquisitions, which have been instrumental in expanding its geographic footprint, broadening its service offerings and continuing to build the company's brand - positioning it as the leading global CEO and board advisory firm in the world."