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2021
Year - Service
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QX Global Group
Client
Corbett Keeling is delighted to have advised QX Global Group, a UK headquartered, global Business Process Management company, on the acquisition of an 80% stake in Chazey Partners, a global management consulting and advisory services firm based in Austin, Texas, United States.
Our role:
The Corbett Keeling team helped the founder of QX Global Group undertake a Positioning and Readiness Optimisation Review (“PRO Review”), which led to the identification of numerous growth-focused positioning strategies, including a strategic acquisition option to maximise the company’s business value. After a year, during the discussions phase of Chazey Partners’ acquisition, the owners of QX reached out to us for our advice on the acquisition and fundraising. With our client needing strong on the ground and local corporate finance expertise, Corbett Keeling brought in our US Globalscope family firm, J. Sloan & Co.
We worked over six months to manage a complex process of providing a valuation, building the transaction structure, running the due diligence and financing processes, and negotiating terms on behalf of QX in parallel to the fundraising. Chazey Partners comprises not only of its US operations but also separate corporate entities in 8 other countries, each operating independently and including minority partners. Moreover, the M&A bottleneck in 2021 Q4 created significant difficulties in retaining financial and legal advisors, resulting in us working with numerous advisors simultaneously, including BDO for financial diligence, tax, IT, and international tax, Dechert Law in London and Munsch Hardt Kopf & Harr, lawyers in Dallas and additional US local counsel – together we worked with at least 12 law firms, all required to represent the buyer on different aspects.
The acquisition had a cashless closing date of 31st December 2021, with a final closing date of 31st March 2022. We are delighted with the value we delivered for QX and their future growth with Chazey Partners.
About QX Global Group:
QX Global Group is a global Business Process Management company which specialises in finance, accounting, and recruitment operations. With offices based in the UK, North America, Australia, Canada, and India, QX provides outsourcing services to help deliver business transformation across the globe. QX has always focused on enabling transformation of its client’s businesses using their unique 3P approach of people, process, and platform. The acquisition will allow QX to help more organisations solve their most significant barrier to growth – digital adoption and business transformation at scale.
About Chazey Partners:
Chazey Partners is a management consulting and advisory services company operating in the United States and eight other countries. Together QX Global Group and Chazey Partners will provide end-to-end Business Transformation, Digital Services & Intelligent Automation, and Business Process Outsourcing (BPO) for Fortune 1000 companies and public sector organisations, including higher education, across the globe.
Testimonials
“I really appreciate all your help in the success of CP's acquisition, considering the complexity of the transaction. You have been right there, helping us out these past few months. We could not have done it without your expert advice and services. We have, and will continue to, recommend your services to other companies. Our team could not be more satisfied with your work, and I look forward to continuing to work together during our inorganic growth journey. We sincerely appreciate your efficient and gracious service, the level of detail, and accountability you have demonstrated to complete the deal in time. Thank you.”
Snehal Patel, CFO, QX Global Group
"The synergies between Chazey Partners and QX Global Group, from both a client and personnel basis, are some of the greatest I have seen. As QX explained to me, it is 1+1 = 11. It was, however, a complex transaction that needed careful deal management to complete: it spanned over a dozen countries, multiple currencies were involved, and there were countless legal counsels advising. We wish all involved the very best as the two businesses integrate."
Harry Knight, Corporate Finance Director, Corbett Keeling
"It was a genuine pleasure to represent QX Global Group in the United States transactional portion of the acquisition of Chazey Partners. The QX senior management team was always available and decisive when decisions were required. They displayed real strategic vision in expanding both geographically and providing new, complimentary services to their mutual clients. I am confident the combination of these businesses will significantly increase valuation for all shareholders."
John Sloan, President/CEO, J. Sloan & Co.