Bridgepoint has reached an agreement to acquire the FTSE-250 specialist consulting firm, Alpha FMC, for a cash consideration of £626m.

The offer, which comes in at 505 pence a share, represents a premium of 51% on Alpha FMC’s share price on 30 April.

In a statement, Bridgepoint said that "with additional investment and augmented talent and expertise, Alpha FMC is well placed to succeed".

It added that it believes that the firm’s potential can be unlocked through both continued organic growth and further strategic M&A to add new capabilities.

Partner and head of business and financial services at Bridgepoint, Charles Welham, said: "This offer, which we are pleased has been unanimously recommended by the Alpha FMC independent directors, represents a significant premium and allows shareholders to realise attractive value.

“Bridgepoint has strong experience of backing specialist consultants and we are excited to partner with the company and combine our breadth of knowledge of these financial services end markets and the technology ecosystems underpinning them with the bench of specialist capabilities that Alpha FMC has built over many years. We look forward to investing further both organically and inorganically with Luc and the rest of the team."

Independent non-executive chairman at Alpha FMC, Ken Fry, added: "Since its AIM admission in 2017, Alpha FMC has successfully developed into a leading global consultancy to the financial services industry and delivered strong growth in revenues and profits through a proven strategy of deepening client relationships, broadening the client offering and geographic expansion. This is a testament to the strength and relevance of the Alpha FMC Group's client proposition, the market-leading expertise of its people and the quality of the executive team.

“Whilst Alpha FMC is well-positioned to make continued progress, the Alpha FMC independent directors believe that the Acquisition recognises the quality and value of the business and represents an opportunity for Alpha FMC Shareholders to realise their entire investment, in cash, at an attractive premium. Accordingly, the Alpha FMC independent directors intend to recommend unanimously the Acquisition to Alpha FMC shareholders."

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