Completing just before Easter and following client and internal employee communications, the acquisition of Riskcare by Italian-headquartered BIP Group has recently been made public. I was pleased to be advising Riskcare on this occasion.
Backed by CVC Capital Partners, BIP is an increasingly influential advisory firm in Europe and the Americas. The group acquired Chaucer Group in the UK and USA in 2020 which sent out a powerful message to the market about its forward ambitions.
I had known Steve White at Riskcare for 6-7 years and had followed an MBO journey from the sidelines. When Steve spoke to me mid-last year about his forward ambitions for the firm, I was ready and waiting to assist as Riskcare had built up an enviable client list in the capital markets and was in demand to both deliver more to them and expand out to selected others in the sector which it was looking to do carefully.
Being acquired by an organisation with broader capability was quickly identified as the route to go down. We researched potential acquirers that would be able to fit with the growth ambition whilst understanding the need to respect the critical existing client footprint. In BIP, we found a solution that is able to add technical resources to Riskcare’s expert Fintech capability alongside programme and change management strength in London and New York in particular.
There’s much to like here – client feedback about the deal is extremely positive, employees have more space within which to expand and both brands are enhanced. I look forward to following the forward success that will result.
See here for BIP Group’s press release.