Covington Associates

Covington Associates Announces Advisory Role in the Sale of Formedix to Certara

May 21, 2007 03:16 AM  |   Press Release

Covington Associates Advises The Concours Group in Sale to BSG Alliance.

Boston, MA — May 21, 2007 — Covington Associates LLC announced today that it acted as the sell-side advisor to The Concours Group (“Concours”), a high end strategy and executive education company in its sale to BSG Alliance (“BSG”), a provider of on-demand enterprise software.   The terms of the transaction were not disclosed.

Houston-based Concours provides strategy and executive consulting services, working with senior executives at over 200 of the Fortune 500 companies.  The Concours Group integrates research, education and consulting to provide novel and valuable business solutions to its clients.  BSG Alliance helps its customers evolve to meet new technology demands through its on-demand strategy, delivery and applications offerings.  To learn more about the combined entity, please visit

According to Dr. Ronald Christman, President of BSG Concours, “Joining with BSG Alliance gives us the ability to execute dynamically on the innovative approaches our client-driven strategy creates.  In BSG, we saw a partner who understood what it is going to take to fully transform an organization to truly become a next generation enterprise.”

Tim McMahon, a Managing Director at Covington Associates and lead advisor to Concours on the transaction, was quoted as saying “We were very pleased to assist Concours in this transaction. The combination of the two companies creates a powerful player in Strategy and Executive consulting.”

About Covington Associates LLC

Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare and technology companies throughout the country.  Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to over $1 billion for both private and publicly traded companies.  To learn more about Covington Associates, visit