Equiteq advises leading innovation strategy and product design business Essential Design on its sale to PA Consulting
Equiteq, the knowledge economy M&A specialist, is pleased to announce that it has advised Essential Design (Essential), a Boston-based innovation strategy and product design business, on its sale to PA Consulting (PA), a global innovation and transformation consultancy.
Formed in 2001, Essential has flagship clients in the consumer, life science and healthcare sectors. Its diverse team of researchers, designers and engineers inform and translate innovation strategy, to create breakthrough physical and digital products. Essential’s work has won international recognition and received numerous industry awards for excellence in design research, design strategy and design development.
Essential complements PA’s global capabilities in strategy, innovation, product design and engineering and manufacturing process improvement. The combination of PA’s and Essential’s capabilities will enable organizations to transform the way they bring new products and experiences to market. The acquisition provides PA with a new center of excellence for innovation and product design in the United States, which will work in partnership with PA’s long established Global Innovation and Technology Centre in Cambridge, UK.
Frazer Bennett, PA Consulting’s Chief Innovation Officer, said: “We are delighted to welcome Essential Design to PA Consulting. Their team is passionate about understanding and empowering people; creating design-led visions that inspire change. This fits perfectly with PA’s purpose: ‘We believe in the power of ingenuity to build a positive human future in a technology-driven world’. As well as enhancing our US presence, the brilliant Essential team will extend our capabilities at the front-end of design, bringing our clients’ customers a world of ingenuous opportunities.”
Essential Design’s founding partners, Scott Stropkay and Richard Watson said: “We’re very much looking forward to joining PA Consulting. Their range of expertise, commitment to client success and unique ability to deliver innovative physical and digital solutions, building the futures we both imagine, is awesome. Becoming part of PA allows us to design more comprehensively, affecting more positive change for our clients.”
Regarding Equiteq’s role in the transaction, Scott and Richard said, “As our M&A and Strategic Advisor, Equiteq provided us with first-class, tireless representation throughout the process. The team, led by Adam Tindall, took the time to truly understand every aspect of our business and listen to our objectives. They demonstrated a deep understanding of the transaction process and guided us through myriad complex issues. We would highly recommend Equiteq to anyone considering a sale of their business.”
Adam Tindall, Managing Director of Equiteq’s North America practice, commented, “It has been a pleasure working with the Essential Design team on this transaction and we are excited to have helped facilitate their transaction to a great new home with PA Consulting. The combined capabilities and extended geographical reach create an even more powerful client proposition. We wish the newly combined team the very best of luck.”
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