ICG, the global alternative asset manager, today announced that its European Mid-Market team (“ICG Mid-Market”), together with the founders and management team, have signed an agreement to sell digital transformation consultancy, 6point6 (“the company”), to Accenture.
6point6 is one of the UK’s leading technology consultancies, specialising in complex digital transformations, with a highly specialised and multi-disciplined offering, encompassing cyber and data. The company focuses on clients across the UK Central Government, Defence and Security sectors, as well as the Financial Services industry, and parts of the private sector operating critical infrastructure.
ICG partnered with 6point6 in 2021, leveraging its deep experience in both technology and consulting businesses to support the founders on their growth journey. Since ICG’s initial investment, growth has significantly accelerated, with revenue having grown by 45% p.a., and headcount more than doubling to almost 400 employees. ICG worked alongside the founders and management to support the company’s development into new adjacent end markets, whilst ensuring the company could attract and develop the industry’s top talent to support its growth path.
Commenting on the sale, Gareth Knight, Head of ICG European Mid-Market, said:
This was a classic ICG transaction; a financing-led partnership with a group of highly talented entrepreneurs and managers, leading an ambitious growth company. Our European Mid-Market Fund I, which closed in 2019, only commenced investing in 2020, and this transaction represents our third successful exit so far this year. We are delighted to have delivered several successful exits in a market environment which really tests the quality of your assets.
Liam McGivern, Managing Director at ICG European Mid-Market, added:
We were attracted to 6point6 due to its enviable reputation for solving the most complex technology problems for its clients. Its strategy was anchored around megatrends such as cyber and data architecture which we believed would offer structural growth tailwinds for our investment cycle and beyond. The founders’ vision for this stage of growth was clear from the outset, and it has been a pleasure to help them realise this.
David Webb, Executive Chairman and Founder of 6point6, added:
Working alongside ICG has exceeded our expectations and immensely benefited 6point6. The team stood out as a great partner straight away and brought a depth of experience and constructive challenge that guided us to make insightful and effective decisions. The foundation of our partnership was their ability to provide a bespoke financing solution, but they have delivered so much more as value-add investment partners. We are grateful to the ICG team for their support and expertise over the last few years, and the company looks forward to its next phase of growth with Accenture.
Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory clearance.
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For further information please contact:
Clare Glynn
Head of Corporate Communications
Email: [email protected]
About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $82.1bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.
ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn, Instagram and X (Twitter)
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