Dublin-based management and AI consulting firm Sia Partners has received investment of up to €250m from Blackstone, one of the world's largest alternative asset managers.
The strategic minority investment by funds managed by Blackstone's private equity strategy for individual investors is intended to support the company's expansion in the US and strategic mergers and acquisitions.
Founder and CEO Matthieu Courtecuisse will retain a majority stake in Sia Partners and will continue to lead the firm following its first partnership with a financial investor since its inception.
Founded in 1999, Sia has become a leading player in the global consulting market, recognised for its deep expertise in strategy, management consulting and AI, and ability to leverage technology and data to drive business transformation.
The company employs 3,000 people across 50 offices in 20 countries and works with more than 1,000 clients across energy, banking, consumer, luxury, retail and tech, media & telecoms, including leading Fortune 500 and major tech companies.
Projects range from significant strategic transformation, change management, operational analysis, post-merger integration and innovation.
Sia has achieved close to €500m in revenue, 40% of which is in France and 30% from the US.
“We are thrilled that Blackstone is investing in our consulting firm as a minority partner. This partnership reflects a shared conviction in our strategic consulting model augmented by AI and design, as well as the common ambition of a leadership position in a market that is experiencing a new phase of consolidation," said Courtecuisse.
“Today’s announcement is also a testament to the hard work of everyone at Sia, our 25 years of organic growth and the opportunity that lies ahead.
"With Blackstone’s resources we can grow our organic offerings, accelerate our international expansion plans and develop our ability to innovate, bringing our premium offering to more clients around the world.”
Lionel Assant, global co-chief investment officer at Blackstone, added: “Sia is a fast-growing leader in the space, benefitting from a differentiated service offering given their deep expertise across industry defining megatrends such as energy transition and AI.
"We look forward to partnering with Matthieu and the wider team to drive long-term growth by leveraging our global footprint, scale and expertise.”
Sia Partners has also announced the appointment of Sandrine Carreau as president and COO. Based in Paris, Carreau has been with Sia for 12 years, and she was previously in charge of M&A, marketing and ESG.
JP Morgan SE acted as exclusive financial adviser and sole placement agent, and A&O Shearman acted as legal advisor to Sia Holding with respect to the strategic minority investment from Blackstone.
Freshfields acted as legal advisor and Eight Advisory as legal transaction services advisor to Blackstone, which has more than $1.1tn in assets under management.
(Pic: Munshi Ahmed/Bloomberg via Getty Images)
