HG Capital swoops on Blick Rothenberg

The former global chairman and UK CEO of Big Four giant Deloitte John Connolly has joined forces with private equity firm HgCapital in a bid to build a full service accounting and professional services firm through acquisition of smaller accounting firms.

HgCapital announced the plans in August under the auspices of its newly-created vehicle CogitalGroup, to be chaired by Connolly.

The private equity house specialises in investments in services, telecoms and industrials while a separate arm focuses on renewables. Its portfolio includes Iris Software, car leasing operators, Leasedrive and Zenith, and HR provider Citation.