Leonard Green & Partners announced that it has completed the acquisition of Cumming Group, an independent provider of project management and cost management advisory services, from New Mountain Capital. Financial terms of the transaction were not disclosed.
Cumming Group provides project and cost management services for clients across North America and Western Europe. The company serves more than 4,000 clients, including 41 Fortune 100 companies, and has more than 2,900 team members across over 60 offices globally.
The company works with clients across sectors including data centers, education, healthcare, life sciences, and infrastructure. Its advisory services support complex projects across the built environment, helping clients deliver projects on time, on specification, and on budget.
Leonard Green & Partners said the investment will support Cumming Group’s next phase of growth, including continued global expansion, organic growth, and strategic acquisitions.
New Mountain Capital said Cumming Group experienced significant growth and expansion during its ownership period and remains well-positioned for continued success under Leonard Green & Partners.
Jefferies served as lead financial advisor to Cumming Group, with Evercore serving as co-financial advisor. Ropes & Gray served as legal counsel to Cumming Group. Morgan Stanley served as financial advisor to Leonard Green & Partners, and Latham & Watkins served as legal counsel.
KEY QUOTES:
“I am incredibly proud of the market-leading platform Cumming has built, grounded in technical excellence and service quality, a strong people and client-first culture, and long-standing industry relationships.”
“We are thrilled to partner with LGP as we expand our capabilities and geographic reach across the built environment, while embracing innovation to further enhance client service.”
Derek Hutchison, Chief Executive Officer of Cumming Group
“We are excited to partner with Derek and the broader Cumming team.”
“Cumming has established itself as a clear leader in project and cost management, enabled by its differentiated value proposition and commitment to its people, clients and culture of excellence. We look forward to supporting the Company’s next phase of growth, both organically and through continued strategic acquisitions.”
Chris McCollum, Senior Partner at Leonard Green & Partners
“Cumming represents a strong example of New Mountain’s focus on building leading businesses in defensive growth sectors.”
“We are proud to have partnered with the entire Cumming organization during a period of significant growth and expansion, and we believe the Company is well-positioned for continued success with LGP.”
Harris Kealey and Joe Delgado, Managing Directors at New Mountain Capital
