PERMIRA takes majority stake in ACUITY KNOWLEDGE PARTNERS

This majority buyout transaction shifts the institutional control of Two Circles from Bruin Capital to Charterhouse Capital Partners, in a deal structured to ensure total management continuity through a significant equity reinvestment by the current leadership team led by co-founder and CEO Gareth Balch. The transaction is timed to exploit a clear inflection point in the sports marketing lifecycle, where Two Circles has successfully institutionalized its proprietary data platforms and proven its capacity to absorb complementary specialized agencies, including the historical integrations of TRM Partners, LiveWire Sport, Sports Ink, and Codeware

The acquisition of OpenWork allows Freelance.com to absorb one of its most innovative competitors, effectively merging OpenWork’s digital-first platform with Freelance.com’s large-scale institutional reach. The strategic rationale for the deal is rooted in the complementary nature of their service offerings and geographic footprints, particularly with the integration of OpenWork’s Belgian operations into Freelance.com’s existing international network in Switzerland and Morocco. By combining their commercial and marketing resources, the new group achieves a stronger position to manage different tiers of consultants through a multi-brand strategy

Bain Capital Private Equity acquired a 55% majority stake in House of HR from the French private equity firm Naxicap Partners. This transaction concludes a decade-long value creation cycle during which the group’s revenue exploded from €330 million to €2.2 billion through a series of tactical international acquisitions. The strategic rationale for the deal is rooted in the target’s hybrid positioning—combining traditional staffing with engineering consultancy and digital recruitment platforms. Despite the challenging macroeconomic environment following the geopolitical shifts in early 2022, the deal was successfully structured through a significant debt package, highlighting the high resilience of the group’s cash-flow profile

New Mountain Capital acquired a majority stake in Citrin Cooperman, marking a historic shift for the firm from a traditional partnership to a PE-backed growth model. The strategic partnership was designed to provide the financial and technological resources needed to accelerate both organic growth and a massive consolidation program. In the first six months following the investment, the firm successfully closed five strategic acquisitions, expanding its geographic footprint and diversifying into specialized technology and advisory services

Sagard entered into exclusive negotiations to become the new reference shareholder of ADIT, acquiring a stake slightly below 50%. This transaction represents the fourth LBO since the company's privatization in 2011. Existing shareholders Parquest Capital, Bpifrance, and Amundi PEF reinvested in the new structure. The French State retained its "golden share" to safeguard strategic national interests. The deal aims to support ADIT's ambition to rival major Anglo-Saxon players and accelerate its expansion into Italy, Germany, and Spain

Freelance.com completed the acquisition of Helvetic Payroll, the undisputed leader of the Swiss umbrella company market. This cross-border transaction combines the target’s high-margin, digital-native operations with the acquirer’s large-scale institutional reach in France. The strategic rationale for the deal is twofold: achieving immediate geographic dominance in Switzerland and significantly accreting the group's overall profitability, as the target's 5% operating margin exceeds the acquirer's historical average

Adecco acquired 100% of QAPA and planNED to immediately deploy a "state-of-the-art" 100% online solution to its client base. Strategically, this acquisition complements Adecco's physical network with a high-speed digital channel, intended to serve large key accounts requiring flexibility.

H.I.G. Europe acquired KPMG's UK restructuring business in a complex corporate carve-out transaction. The deal created "Interpath Advisory," an independent entity led by senior partners who became significant shareholders. The strategic rationale was to liberate the practice from Big 4 audit conflicts, allowing it to service a wider range of clients and navigate the post-COVID economic recovery landscape with greater agility.

Jacobs Engineering Group has finalized a strategic investment to acquire a 65% majority stake in PA Consulting from The Carlyle Group, which exits its position after a successful five-year partnership. This transaction is uniquely structured as a "private equity style" deal to ensure the consultancy retains its independence, brand identity, and distinct corporate culture. The remaining 35% stake is retained by the target's employees, reinforcing the firm’s long-standing partnership model and aligning interests between the management team and the new industrial sponsor

The acquisition of TRM Partners by Two Circles represents a strategic consolidation designed to merge predictive fan data analytics with institutional sponsorship sales execution, responding to corporate marketing procurement shifts that demand auditable, data-backed returns on advertising spend over traditional broadcast impressions. Under its prior independent ownership cycle, TRM Partners validated its commercial framework by securing significant multi-year partnerships with global consumer brands and automotive sponsors, establishing a high-yielding sales pipeline that sustained momentum through macroeconomic disruptions