NEW YORK, Nov. 19 /PRNewswire/ -- MidOcean Partners, a premier New York and London based private equity firm, today announced that it is partnering with its Management Affiliate, Michael A. Beber, in the Business Services sector to build a market leading, global professional services organization that will serve middle market clients worldwide. Consistent with MidOcean's strategy of partnering with top operating executives, Mr. Beber would serve as President and CEO of the new professional services organization.
Mr. Beber is the former Chief Strategic Development Officer of Marsh & McLennan Companies, Inc. . With $11 billion of revenue and 55,000 employees, MMC is one of the world's largest professional services organizations. Mr. Beber joined MMC in July 2004 through its acquisition of Kroll, Inc., the world's leading risk consulting company. While at Kroll, Mr. Beber was the Executive Vice President of Strategic Development and spearheaded more than 20 acquisitions in the US and UK. Mr. Beber, a Chartered Accountant from Toronto, Canada joined Kroll in 1998 following Kroll's acquisition of Lindquist Avey, an international forensic and investigative accounting firm in which Mr. Beber was one of the founders. Prior to Lindquist, Mr. Beber was the Partner in Charge of BDO's Litigation Support and Forensic Accounting practice for Canada and a Senior Manager with KPMG.
"We are delighted about the opportunity to partner with Michael to build an industry leading professional services organization," said Tyler Zachem, a Managing Director with MidOcean. "Michael is an innovative, motivated, proven executive that we have known for several years. The professional services industry has over $1 trillion of revenue, is very fragmented, with very real incremental opportunities coming through effective consolidation on a global scale. Michael's experience over the last 20 years has lead to the development of proprietary business processes that we will apply to execute on this opportunity".
"The professional services industry is one of the largest, growing, fragmented industries in the world. The evolving demands of clients and the realities of the modern economy have presented unique challenges and opportunities that professionals have to be in a position to solve on a global scale. The problem facing the overall professional services industry is how to effectively meet these challenges and seize these opportunities within their existing business structures," said Mr. Beber. "I am thrilled to be pursuing this opportunity with MidOcean Partners. Our approach to realizing on this opportunity has resonated extremely well with leading professional services firms and we are very excited about building a premier, global, professional services organization".
About MidOcean Partners
MidOcean Partners is a premier private equity firm focused on the middle market. Based in New York and London, MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth in the United States and Europe. Targeted sectors include consumer and leisure, media and communications, business and financial services and industrials. MidOcean utilizes a broad foundation of expertise in its focus industries and its transatlantic platform to create value for its investors and partners.
