Investcorp acquires business advisor CrossCountry Consulting

CrossCountry's backers Public Sector Pension Investment Board and RLH Equity Partners will continue as investors.

  • Also, CrossCountry founders Dave Kay and Erik Linn will continue to be significant shareholders
  • Guggenheim Securities LLC acted as financial advisor to CrossCountry while Clearsight Advisors advised RLH Equity Partners
  • Houlihan Lokey acted as advisor to Investcorp and PSP Investments

Investcorp has acquired a majority stake in McLean, Virginia-based CrossCountry Consulting, a business advisory firm. No financial terms were disclosed.

CrossCountry’s backers Public Sector Pension Investment Board and RLH Equity Partners will continue as investors. Also, CrossCountry founders Dave Kay and Erik Linn will continue to be significant shareholders.

“We are excited to partner with the CrossCountry team who have driven strong organic growth and profitability since inception,” said Dave Tayeh, head of private equity– North America at Investcorp in a statement. “CrossCountry’s relentless focus on exceptional client service has enabled this sustained track record of growth. There are several macro themes driving continued opportunity in accounting advisory, including the rise of outsourcing and the evolving role of the finance function to involve technology as businesses digitize their operations. We believe that our long history of working with professional services companies, and the potential synergies across our current portfolio in this space, will help CrossCountry achieve its next phase of growth.”

Guggenheim Securities, LLC acted as financial advisor to CrossCountry Consulting while Clearsight Advisors advised RLH Equity Partners. And, Houlihan Lokey acted as advisor to Investcorp and PSP Investments.

CrossCountry was founded in 2011.