What's Happening?
A new specialist procurement and bid writing group, Procurement Growth Group, has been formed through the merger of two established consultancies, Thornton & Lowe and Executive Compass. This merger creates what is claimed to be the UK's largest dedicated
bid writing business. The group combines expertise in bid writing, tendering, procurement consultancy, and bid software, aiming to offer clients greater capacity and broader expertise. The merger follows Thornton & Lowe's acquisition of Bidding Limited, which had previously acquired Healthbid and AM Bid. The new group employs 76 people and plans further recruitment to support its expansion goals.
Why It's Important?
The formation of the Procurement Growth Group reflects the increasing demand for specialized bid support as procurement processes become more competitive and strategically significant. By combining resources and expertise, the group aims to enhance its service offerings and expand its market presence. This merger could set a precedent for similar consolidations in the industry, as companies seek to leverage synergies and scale to better serve clients. The group's focus on integrating consultancy expertise with software solutions highlights the growing importance of technology in the procurement and bid writing sectors.
What's Next?
The Procurement Growth Group plans to continue its expansion by recruiting additional staff and enhancing its service offerings. The group aims to leverage its combined expertise to support organizations at every stage of their bidding journey, from opportunity identification to long-term improvement. As the group grows, it may explore further acquisitions or partnerships to strengthen its market position. The merger's success could influence other firms in the industry to consider similar strategies to remain competitive.
