Teneo has announced the acquisition of two international advisory firms, marking a strategic push in its global M&A expansion. The move strengthens its presence in key markets and enhances service offerings across restructuring, capital markets, and corporate advisory.
- Teneo acquired Horizon Advisory Group (Auckland) and Stratagem Partners (London) for $175 million
- Deal includes $110 million in cash and $65 million in equity
- 145 new professionals added, bringing Teneo’s global workforce to ~2,300
- Expected $42 million in incremental revenue in first full year post-acquisition
- Targeting 18% EBITDA margin improvement within three years
- Integration completed by Q2 2026, with regional leadership teams retained
Teneo has completed the acquisition of two international advisory firms—Auckland-based Horizon Advisory Group and London-based Stratagem Partners—as part of a broader strategy to deepen its global reach. The combined transaction values the two firms at approximately $175 million, with Teneo paying $110 million in cash and $65 million in equity. Horizon Advisory Group, established in 2008, specializes in corporate restructuring and financial turnarounds in Australasia, while Stratagem Partners, founded in 2005, focuses on capital markets advisory and investor relations in the UK and Western Europe. The acquisitions are expected to add 145 new professionals to Teneo’s global workforce, increasing its total headcount to around 2,300 across 32 markets. The integration will be managed through Teneo’s existing regional leadership teams, with Horizon’s leadership team remaining in place and Stratagem’s partners joining Teneo’s Europe-focused executive board. The combined capabilities will allow Teneo to offer clients a more comprehensive suite of services, particularly in cross-border restructuring and investor strategy. Financially, the deal is projected to generate $42 million in incremental revenue in the first full year post-acquisition, with an estimated 18% EBITDA margin improvement within three years. These figures reflect Teneo’s growing emphasis on scalable, expertise-driven growth through targeted M&A. The company has now completed five acquisitions in the last 18 months, signaling a sustained investment in international expansion. The move is likely to impact competitors in the advisory space, particularly firms with regional footprints in Europe and the Asia-Pacific. Clients, especially mid-cap and large-cap companies undergoing transformation, stand to benefit from expanded service capacity and deeper sector expertise. Regulatory approvals were secured in December 2025, paving the way for full integration by the end of the first quarter of 2026.