Bain & Co snaps up London procurement specialist Proxima

US consulting giant Bain & Co revealed it has snapped up London procurement specialist Proxima today, as demand for supply chain consultancy surges amid a wave of inflationary and geopolitical shocks.

Bain & Co, headquartered in Boston, said today it had bought Proxima in what was a “critical moment for the procurement sector”, with a combination of geopolitical tensions, rising costs and the impact of the pandemic snarling supply chains globally. 

Both firms declined to disclose the value of the deal, but the terms of the tie-up will see Proxima continue to operate independently as part of Bain’s ‘specialist procurement implementation service line’.

Bosses at Bain said today the need for supply chain expertise had soared against the current economic backdrop.

“The business imperative for the Bain and Proxima integrated strategy to delivery capability has never been stronger,” said Michael Garstka, London-based Bain & Company Senior Partner, who will also serve as Executive Chairman of Proxima after completion of the deal.  

“I am looking forward to working with Gareth Evans and his team at Proxima and my colleagues at Bain to bring this solution to our clients.”

The acquisition comes as firms scramble to drive down the environmental and social impact of their supply chains, with scrutiny growing of so-called Scope 3 emissions – those that take place across supply chains and firms’ customer base.

Bosses at Bain said today that procurement would be crucial to delivering “growth while also meeting their net zero agendas.”

“We believe this acquisition will further strengthen our ability to meet the needs of clients around the globe for end-to-end procurement transformation across strategy, design, technology, capability development, and execution,” the firm said. 

Proxima, which delivers procurement and supply chain consultancy across sectors as diverse as aviation, banking and government, said the deal would allow its offering to hit “even greater heights”.