London – Global law firm K&L Gates LLP has advised Proxima Group, a leading US and UK procurement consulting firm, in respect of its recapitalisation, backed by Pricoa Private Capital. As part of the transaction, EST Partners, a newly formed private equity firm focused on the global professional services sector, has agreed to provide support for Proxima’s buy and build programme.

London partner James Cross led the K&L Gates team which acted for Proxima and EST. The team included London partner Giles Bavister; London counsels Michael Anderson, Sunny Kumar, and Steven Cox; London associates Andrew Poole, Peter O’Donnell, Enis Hallacoglu, Keisha Phippen, Ayesha Gill, and Natalie Taylor; and Raleigh associate Jenny Sneed.

“It was a pleasure to act on this exciting transaction,” Cross said. “The transaction demonstrates our global platform and the strength of our private equity capability. We look forward to continuing our relationship with Proxima and EST and wish them every success in the future.”
 
EST focuses on investments in the $270 billion professional services (management consulting) sector in the United States and Western Europe. EST targets opportunities to invest in, buy-out or carve-out, specialty consulting businesses with ambitious growth plans, and differentiated IP/service propositions. The private equity firm seeks profitable companies with up to $150 million in turnover which are often facing succession planning issues, internal conflicts, or are in need of expansion capital.

Henry Smithers, co-founding partner of EST commented: “Proxima is a specialist consultancy with a demonstrated track record of delivering material bottom line savings, year after year, for global organisations with complex and integrated supply chains. We are delighted to support the M&A programme to expand the firm’s service offering, including decarbonisation services, and global footprint. We are grateful to James and the team at K&L Gates for their help in delivering the transaction.”