Paris: Arthur D. Little, the world's oldest consulting firm, has returned to a global partnership.
It completed a Management Buy-Out from Altran Technologies on 30th December, 2011.
The deal involves all of its offices worldwide and includes the Arthur D. Little brand.
Altran, the European high-tech engineering group, gave notice that it intended to dispose of Arthur D. Little in October.
Altran says that given the investments it has made Arthur D. Little (ADL) since the company's acquisition in 2002 and the sale price of between €13m and €20m, this disposal will represent a net accounting charge of between €60m and €90m to Altran, of which €38.6m have already been booked in its accounts for the first half of 2011.
Altran is making a funding line available to the ADL partnership of up to €15m, to be reimbursed by the end of 2015 at the latest and guaranteed by the Arthur D. Little brand.
ADL will be led by a newly elected global CEO, Ignacio Garcia Alves, the Brussels-based leader of the MBO team.
"I am honored by the trust and confidence of the partners and am very excited by the prospect of leading this firm into the next stage of its rich history. Our objective with the MBO is twofold: 1) Taking the firm's destiny and governance back in the hands of the partners; 2) Accelerating growth by attracting key talents or aggregating smaller firms in targeted industries, functions and countries", said Garcia Alves.
ADL says it will still be focused on its historical proposition of linking Strategy, Innovation, and Technology. In the current global economy, it says, "This value proposition is the only way companies and countries can improve their sustained competitiveness. This is true in Europe and the USA where new growth platforms are desperately needed as well as in fast growing economies, such as BRIC countries, that seek to catch-up and move into innovative, added-value products and services."
The firm says it will continue to launch new proprietary Innovation Labs that explore future technology rends from a multi-disciplinary point of view. The first such lab has recently released its research report into The Future of Urban Mobility.