Allegiant International LLC, an Indianapolis-based consulting firm that has seen tremendous growth in recent years thanks to its work with General Motors, has been acquired by Cincinnati’s largest engineering firm.
Belcan LLC announced the acquisition Thursday. Financial terms of the deal, which closed Wednesday, were not disclosed.
Allegiant International was founded as a boutique advisory firm in Auburn in northeast Indiana in 2007 and moved its headquarters to Indianapolis in 2015.
The company provides advisory services, tactical operations help and technical services to clients through a network of 750 professionals. It has a growing reputation as a supply-chain crisis-management firm. It has clients in the automotive, aerospace, defense, medical and industrial supply industries, among others.
Allegiant has received one of GM’s “Supplier of the Year” awards the past two years.
“Allegiant is excited to join the Belcan family and we believe the combination brings exceptional growth opportunities,” Allegiant CEO and Founder Nicole Grove said in written comments. “With Belcan's support and capabilities, we will be able to further expand our services and reach, which is critical to meeting the growing demand of our customers across the globe.”
Belcan is a global supplier of engineering, supply chain, technical recruiting, and information technology services that has grown rapidly through recent acquisitions. The deal for Allegiant marks its seventh acquisition in less than three years.
Belcan, a portfolio company of AE Industrial Partners LP, has about 8,000 employees in 55 offices worldwide. The company had $103 million in engineering billings in 2017, making it Cincinnati’s largest firm in that category, according the Cincinnati Business Courier.
“Allegiant is known for its supply chain expertise, which makes it a highly strategic fit with Belcan’s existing manufacturing and supply chain services business,” CEO Lance Kwasniewski said in written remarks. “Their attractive automotive industry customer base of blue chip OEMs and Tier 1 suppliers also strengthens Belcan’s position in this important segment. We look forward to working closely with the Allegiant management team to realize the tremendous opportunities ahead.”
BKD Corporate Finance LLC served as financial adviser to Allegiant, and Faegre Baker Daniels LLP served as legal adviser.
PricewaterhouseCoopers LLP served as financial adviser to Belcan, and Kirkland & Ellis LLP served as legal adviser.