ProcureAbility has been acquired by Jabil Inc., a strategic move that joins the leading procurement services company with one of the most technologically advanced and trusted supply chain and manufacturing solutions providers in the world. ProcureAbility will continue to operate independently, now backed by Jabil's supply chain expertise and global footprint, to deliver an expanded, industry-leading suite of services to procurement organizations around the world. Equiteq served as the exclusive M&A advisor for ProcureAbility on the transaction.
"We are excited to join the Jabil team to deliver enhanced, world-class procurement services to a global client base, backed by the strength and resources of an organization known for its supply chain expertise and procurement practices," stated Conrad Snover, CEO of ProcureAbility. "This union between two industry leaders, both keenly focused on delivering service excellence, comes at an opportune time as ProcureAbility continues to experience rapid growth and Jabil looks to meet the high demand from clients for expertise in procurement services."
Commenting on Equiteq’s role in the transaction, John Evans, Chairman of ProcureAbility, and Conrad Snover, CEO of ProcureAbility, stated, “Equiteq was an excellent advisor and provided trusted, highly valuable insights throughout the process. Their tireless work and dedication were instrumental in getting to this great outcome. We couldn’t have done it without them and really enjoyed the partnership.”
Adam Tindall, Managing Director, and Alex Floess, Director at Equiteq added: “It was a privilege working with the ProcureAbility team over the course of this transaction. They have clearly built a very strong platform, and this platform is now extremely well-positioned for longer-term growth by joining forces with Jabil. We are very pleased about the outcome and wish both parties the best going forward.”