Accountant Touche Ross is to buy CSL in a move which could revolutionise the managed services market. Negotiations...
Accountant Touche Ross is to buy CSL in a move which could revolutionise the managed services market. Negotiations are still underway but it is understood a deal will be signed next week. The acquisition will mean a significant increase in Touche Ross' share of the public sector consultancy market and position it well for opportunities likely to arise with white collar compulsory competitive tendering. CSL began life in 1989. Like one of its rivals, Capita, it was formed by a management buy out from CIPFA.
The company currently has a turnover of around £16 million and employs 450 staff.
Touche Ross was involved in pioneering outsourcing deals in local government. In 1991 it won a contract with South Oxfordshire DC when it privatised its budget preparation work.
More recently it was involved in the privatisation of Berkshire CC's finance department to set up a company called Total Resource Management. Touche Ross provided financial and marketing backing to county treasurer David Bowles and his staff and has the option of acquiring the firm within two to six years.