Baird Capital has acquired 52% of consultant bfinance in a deal that will help the firm in the next stages of its growth.
A spokesman for bfinance confirmed that private equity funds managed by Baird Capital have invested in the company, acquiring 52% from the senior management team. Financial details of the transaction were not disclosed.
David Vafai, bfinance founder, chairman and CEO, will continue to lead the consulting firm. Andrew Ferguson, managing director, and Mark Brownlie, chief financial officer, will join bfinance's board as directors.
The consultant's corporate business is growing both in the U.K. and internationally, and will leverage Baird's resources and track record in supporting high-growth businesses in expanding, said a news release Tuesday.
“Baird's deep understanding of the financial services industry and its global network will be valuable as we look to drive our growth both domestically and abroad,” Mr. Vafai said in the news release. “Our improved capabilities will also help us better serve our institutional clients who now, more than ever, need excellent advice to help them in their search for yield and to protect their portfolios in today's highly volatile markets.”
bfinance has offices in London, Amsterdam, Munich, Montreal, Paris and Sydney and advises on more than $140 billion in investment assets.
