TSA Management – acquisition of Calcutta Group
Miles Advisory Partners advised TSA Management ("TSA") on its acquisition of strategic advisory and project management consultancy Calcutta Group ("Calcutta").
Transaction Details
Sector
Business Services
Miles Role
Buy-side advisor to TSA Management
Deal Type
Mergers & Acquisitions (Buy-side)
Year Completed
2020
Contacts for this Transaction
Ryan Jordan
Managing Director
Jack Atkins
Director
Overview
- Calcutta was founded in 2010, is a specialist strategic advisory and project management consultancy whose multidisciplinary team of engineers, consultants, architects and lawyers focuses on the transport, healthcare, social services and education sectors
- Calcutta had advised on a number of major Australian infrastructure programmes, including Sydney Metro, Queen’s Wharf Brisbane and the Sunshine Coast University Hospital
- Miles advised TSA on the acquisition as part of the company’s ongoing buy-and-build strategy under Livingbridge, with Calcutta’s leaders joining TSA as Principals across its Sydney and Brisbane operations
- The deal was one of a series of bolt-on acquisitions through which TSA consolidated the Australian project advisory market during its ownership by Livingbridge
Industry Context
The acquisition came amid sustained, multi-year investment in Australian infrastructure, which has driven strong demand for independent client-side advisory on large and increasingly complex public projects. Private equity-backed consolidators such as TSA have responded by acquiring boutique specialists to broaden capability and add senior expertise.
