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EST Partners announces the sale of Proxima Group to Bain & Company
London – 31 May 2022 – EST Partners (“EST”), a private equity firm focused on the professional services sector, announces today the sale of Proxima Group (“Proxima”), a UK-headquartered global leader in procurement and supply chain consulting, to Bain & Company (“Bain”). 

The sale of Proxima to one of the leading global consultancies reflects the strength of Proxima’s brand, management team and track record.  The combination with Bain is an exciting new chapter and will only strengthen the firm’s proposition to clients for end-to-end procurement transformation across strategy, design, technology, capability development, and execution.


“Working with the Proxima management team has been a pleasure and we are delighted with the outcome for all employees, clients and shareholders,” said Mark Sherfield of EST Partners. “We believe Bain is an excellent home for the business and wish Gareth Evans and the team all the best on their new journey with Bain.”


The pivotal sale of Proxima to Bain demonstrates the strategy and focus of EST in helping professional services firms to grow organically and inorganically.  EST is actively seeking to invest in specialist consulting firms with deep expertise and clear growth ambitions.  EST provides growth capital to facilitate succession planning, carve-outs from large consultancies and transformational M&A deals.


“In 2021, EST supported our recapitalisation, backed by Pricoa Private Capital, and assisted with our buy-and-build programme,” said Gareth Evans, CEO of Proxima. “Their corporate finance expertise and relationships ultimately led to our successful sale event.  We are grateful for their support and excited to be joining forces with Bain.”

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About EST Partners

EST is focused on investments in the $270B professional services sector in US and Western Europe. We target opportunities to invest in (or co-invest in), buy-out or carve-out, specialty consulting businesses with ambitious growth plans and differentiated IP/service propositions. We seek profitable firms with up to £25M revenue (or up to £100M for direct co-investments) which are often facing succession planning issues, internal conflicts (eg audit or client conflicts) or are in need of expansion capital.  For more information, visit


About Proxima Group

Proxima is a specialist procurement consultancy helping the world’s largest companies spend wisely. With 300 consultants split between US and UK, Proxima provides procurement consulting and implementation services to Fortune 500, FTSE 350 and central government bodies.  The firm is a global leader in the delivery of indirect spend optimisation programmes which often complement the procurement functions of its clients. The firm’s subject matter experts cover all indirect spend (SG&A) categories with additional coverage of transformation, capex, working capital and direct spend categories.


About Bain & Company 

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.  Across 64 cities in 39 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a gold rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 2% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry. 

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