Today marks the start of an exciting new chapter for our firm as we confirm a private equity-style investment from Jacobs, a global technical and professional services leader that is “Challenging today, Reinventing tomorrow”. Jacobs joins PA’s own people as investors in PA and will support our growth plans, enabling us to work with even more organisations around the world to unlock the power of ingenuity to build a positive human future.
PA and Jacobs have shared values that are based on always doing the right thing for our people, planet and clients; a strong purpose; a desire to make the world a better place; and a drive to help innovative organisations go further, faster. We intend to find opportunities to partner together in the marketplace, bringing our complementary capabilities together to further strengthen our ability to deliver ingenious solutions for our clients.
The relationship with Jacobs will allow PA people to maintain ownership in our business, to act with the care of owners and to benefit from the value that we deliver. More than two-thirds of our people own shares in PA. And it will create new opportunities for our people to build their careers and do impactful work.
The investment from Jacobs sees The Carlyle Group exit their investment in PA after a successful five-year partnership. PA has more than doubled EBITDA through the period with compound annual revenue growth of 12 per cent. Together, we’ve built strong foundations that will let us continue to provide exciting new opportunities for our people and clients, and over the next five years grow our firm to more than £1 billion.
Since our founding in 1943, the story of PA has been one of ingenuity – ingenious work that grows businesses, delights customers, serves citizens and improves the health of the planet. As we turn the page with Jacobs, I’m excited by the opportunity to create new, and even better stories in the years ahead.