Fedcap, a large US-based charity founded in 1935, develops relevant, sustainable solutions for people to overcome barriers through four practice areas: Economic Development, Workforce Development, Educational Services, and Occupational Health.
The charity’s turnover in the financial year 2017 was $257.5million.
Fedcap and Kennedy Scott Limited share similar aims, both working to support socially and economically disadvantaged individuals to participate more fully in society and to achieve their potential. The acquisition represents a significant entry for Fedcap into the UK market, and will allow Fedcap to increase the impact of its work globally.
Commenting on the acquisition, Christine McMahon, President and CEO of The Fedcap Group said: “The leadership and talent within Kennedy Scott will multiply the impact of our combined work, extending the reach of our Workforce Development practice area headed by Senior Vice President of Workforce Development Grant Collins”
Kenneth Brezenoff, Fedcap’s General Counsel and Vice President commented: “We are very appreciative of Bates Wells’ efforts on our behalf to complete this transaction. Their expertise was extremely valuable in understanding the intricacies of our particular transaction”.
This transaction demonstrates Bates Wells’ ability to support the not –for-profit clients of our market leading charity law practice by combining our specialist charity law knowledge with our M&A expertise and further emphasises our proficiency in the Impact Economy.
Bates Wells’ M&A team was led by Stephen Callender (Corporate Partner) and Natalie Knight-Wickens (Corporate Senior Associate), with support provided by Edward Reardon and Natalie Ali (Corporate), Abbie Rumbold (Charity), Christina Tennant (Real Estate) and Louise Rea (Employment).