Endeavour, a Portland, OR-based private equity firm, has taken a significant equity stake in Point B, a Seattle-headquartered management consulting firm.
The capital infusion will allow Point B to expand its solutions and pursue targeted acquisitions in technology consulting, according to a release from the consulting firm.
The deal will create a new board of directors at Point B, which will include current outside directors Chris Marsh and Setareh Pouraghabagher, with Marsh serving as the chairman. Joining the board are new outside directors Kym Hubbard, former global head of investments at EY, and David Daniel, chairman of executive search firm Spencer Stuart, as well as Endeavour’s David Goldberg and Stephen Babson.
Brian Turner, formerly president of consulting, will become president of Point B and a board director.
“Endeavour sees a bright future of growth for Point B and its people,” said David Goldberg, managing director of Endeavour. “We’re excited to partner in this next chapter as Point B brings together new expertise and capabilities to scale their impact in the marketplace.”
Endeavour invests in technology and business services, industrials, consumer, and healthcare companies located in the US West. The firm’s portfolio of investments in the consulting industry includes Berkeley Research Group, PK Global, and Grant Victor.
As part of the investment, Point B’s employees will continue to hold a stake in the firm through its employee stock ownership program.
“Point B has always believed that customers deserve more than what traditional, big consulting firms bring to the table,” Turner said. “They need a trusted partner who puts them first – every time. And that is what Point B has always done and what has made us special to customers and top industry talent over our 26-year history. Our partnership with Endeavor allows us to bring even more of that extraordinary combination of empathy and expertise to customers across the nation.”
Point B provides consulting services in strategy, organizational change, design and creative, data and analytics, and real estate development. The employee-owned firm has more than 800 people across more than a dozen offices in the United States.
Private equity firms, flush with cash and eyeing the rebounding consulting market, have been busy investing in consultancies. Deals in the last year include: HPS investing in Ankura; Periscope Equity and Praecipio Consulting; RLH Equity Partners and Keystone Strategy; Towerbrook and EisnerAmper; Investcorp and KSM Consulting; and Renovus and Thought Logic Consulting.