Jabil acquires procurement consultancy ProcureAbility
Jabil, a global manufacturing and supply chain services company, has acquired ProcureAbility, a Jacksonville, FL-based procurement consulting firm.
Founded in 1996, ProcureAbility provides advisory, managed services, digital, and staffing and recruiting services exclusively focused on procurement. The firm’s offerings include procurement assessment and strategy, technology optimization and enablement, managed sourcing services and execution, contract management and administration, analytics-as-a-service, executive search, and direct hire recruitment,
ProcureAbility has 160+ employees, according to LinkedIn.
Jabil’s acquisition of ProcureAbility will strengthen its procurement practice, which provides procurement strategy consulting, technology, market intelligence, and managed services. ProcureAbility will continue to operate independently.
“Together we're revolutionizing the procurement landscape and how we deliver solutions to organizations to help them drive transformative change and create value," said Frank McKay, chief supply chain and procurement officer at Jabil. "ProcureAbility and Jabil have a shared vision for growth, client service, innovation, and long-term success.”
St. Petersburg, FL-based Jabil (NYSE: JBL) has 250,000+ employees globally and approximately 100 plants in 30 countries. The firm provides design engineering, manufacturing, and supply chain services for numerous industries, including aerospace, automotive, computing, consumer, healthcare, and telecom.
“We are excited to join the Jabil team to deliver enhanced, world-class procurement services to a global client base, backed by the strength and resources of an organization known for its supply chain expertise and procurement practices," said Conrad Snover, CEO of ProcureAbility. "This union between two industry leaders, both keenly focused on delivering service excellence, comes at an opportune time as ProcureAbility continues to experience rapid growth and Jabil looks to meet the high demand from clients for expertise in procurement services."
Equiteq, an investment bank focusing on the knowledge economy, served as exclusive M&A advisor to ProcureAbility on the transaction.
