• The transaction represents Investcorp’s 5th investment in professional services firms and is expected to accelerate CrossCountry’s growth as it expands both geographic presence and service offerings

Bahrain – Investcorp, a leading global alternative investment firm, today announced its acquisition of a majority stake in CrossCountry Consulting (“CrossCountry,” or “the Company”), a leading independent provider of specialized financial and accounting advisory services in the United States. Investcorp is leading a consortium of global institutional investors alongside the Company’s founders and existing financial sponsor.

Founded in 2011, CrossCountry provides accounting, finance, risk, operations, cybersecurity, and technology-enabled transformation solutions for the Offices of Chief Financial Officers in public and private organizations. The Company has over 700 professionals and currently represents clients across a wide variety of industries including private equity, financial services, life sciences, real estate and hospitality. Its footprint has grown significantly over the past 10 years with professionals located across the United States and globally in Ireland, South Africa and the Philippines.

Ali Alrahma, Private Equity Specialist for Investcorp’s Private Wealth commented, “In an environment of increasingly complex financial and accounting standards and increased market uncertainty, there is a growing trend of outsourcing financial and accounting services to specialist advisory firms such as CrossCountry.In this fast-growing environment, we believe CrossCountry is well-positioned to continue to grow rapidly and gain market shares. We look forward to leveraging our expertise investing and creating value in professional services firms to help CrossCountry in its next phase of growth.”

Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, “Demand for the kind of technology-driven, bespoke advisory services that CrossCountry provides is set to grow rapidly, and CrossCountry is one of the most respected names in the field, with a hard-earned reputation for exceptional client service. Our partnership will support the firm to optimize operations, expand service offerings, minimize risks and drive future growth.”

“As we continue to expand our reach, our partnership with Investcorp puts us in the best position to solve new, complex challenges for our clients, while growing our exceptional team,” said Erik Linn, Co-Founder and Managing Partner of CrossCountry Consulting. “We owe much of our success over the years to our incredible clients and employees; we believe Investcorp is the right partner with whom we can expand our capabilities, and we look forward to a new, exciting chapter of growth together.”

Investcorp has a long history of investing in professional services firms in the United States with notable investments including AlixPartners, ICR, Resultant and United Talent Agency.

Terms of the acquisition were not disclosed.

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About Investcorp

Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.

We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach. In January 2022, Investcorp issued its 2021 Responsible Business Report which outlines its Environmental, Social, and Governance (ESG) highlights for 2021 and specific initiatives the Firm implemented to meet its goals: https://www.investcorp.com/esg/.

Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2022, Investcorp Group had US $42.7 billion in total AUM, including assets managed by third party managers, and employed over 480 people from 50 nationalities globally across its offices.

For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.

About CrossCountry Consulting

CrossCountry Consulting is a trusted business advisory firm that provides customized finance, accounting, human capital management, risk, operations, and technology consulting services to leading organizations facing complex change. We partner with our clients to help them navigate pressing business challenges and achieve goals related to improving operations, minimizing risks, and enabling future growth.

For further information, visit www.crosscountry-consulting.com and follow us @CrossCountry-Consulting on LinkedIn and @crosscountryconsulting on Instagram.

Media Contacts:

Nada Abdulghani

nabdulghani@investcorp.com