BDO acquires C5 Alliance group
BDO in Jersey has purchased the Channel Island technology business, C5 Alliance Group, effective 28 February 2018.
C5, which provides technology services to businesses across the Channel Islands, was established 19 years ago and employs 200 people in the Channel Islands. Its growth has included the acquisition of Cronus Consulting in 2012, ITEX Holdings in 2013 and Altius CI in 2016.
For BDO this move follows the recent acquisitions of Jersey consultancy businesses Greenlight CI and Sator Regulatory Consulting in 2016.
Matthew Corbin, CEO of BDO in Jersey, said: “This acquisition consolidates two leading businesses in their respective fields and creates a unified firm providing strategy, consulting, digital, technology and managed services.
“The acquisition of C5 is strategic for BDO in Jersey as we have developed our range of services from traditional accountancy to include strategic risk, change and regulatory advisory. Our clients are competing in an increasingly complex business environment that is dominated by fast-paced technological, fiscal and regulatory change. Extending our professional services capabilities in the area of technology, which sits so firmly at the top of the boardroom agenda, ensures that we continue to align our services with the needs of our clients.
“Clients of BDO will gain access to a huge pool of technological skills and talent ensuring that technology underpins everything we do, while clients of C5 will benefit from working with a major international brand and a truly global organisation.”
The acquisition sees the BDO brand grow to employ over 350 people across the Channel Islands.
Mr Corbin continued: “C5 has an inspirational management group leading a first-class team of technologists and business professionals, who we already know from working on shared client relationships. C5 attracts, trains and develops the best talent and works hard to support some of the most innovative and forward-thinking businesses operating in the Channel Islands and globally.
“The skills and experience within C5 will make an invaluable addition to our business, enabling us to fulfil our primary mandate to assist our clients to in manage risk and seize opportunities by providing a range of services that evolve in-step with market and technological developments.”
Rob Leader, Group Managing Director of C5, commented: “We are absolutely delighted that C5 have joined BDO. BDO is a fantastic fit for C5, with skills and expertise in complementary areas and an impressive global presence. We have worked alongside BDO on projects in the past and we know that our businesses collaborate and work well together. This new partnership will provide our staff with further opportunities to develop, and our clients with access to a wider range of high-quality services as we continue to live up to our promise of ‘changing the way the Channel Islands use technology for positive impact’.”
The acquisition is being supported by Government-funded development agency and industry association, Digital Jersey. Tony Moretta, CEO of Digital Jersey said: “This deal will support our drive to become a digital centre of excellence and support inward investment and the growth of local talent in this important sector. This is a strategically important acquisition of a business that provides critically important IT services to support the growth and development of the local digital economy. We are delighted to see C5 continuing to grow under local ownership.”
Trond-Morten Lindberg, CEO EMEA at BDO International, commented: “BDO has an enviable position and reputation in the Channel Islands as a leading multi-disciplinary firm that delivers exceptional client service.
“Globally, BDO has been on a consolidation journey for some time with our expansion efforts focussing on business-critical players such as C5 Alliance. The acquisition of C5 is therefore another important milestone in the development of BDO and fits firmly with our objective to help to accelerate the digital transformation of our clients.
“BDO is quickly building its reputation as a digital-first organisation, using data to create insight and value for our clients. Our objective is to add real value for our clients, in developing new solutions in an increasingly complex business world. I see the acquisition of C5 as benefiting BDO’s clients both in the Channel Islands and across the world.”