ProcureAbility is a procurement consulting and services firm headquartered in Jacksonville, Florida. Founded in 1996 as Denali, the company provides procurement advisory, managed services, digital transformation, and staffing and recruiting services to corporate clients. Since November 2023, it has operated as a subsidiary of Jabil, a publicly traded manufacturing and supply chain services company.
History
ProcureAbility was founded in 1996 in Jacksonville, Florida, by John Evans as a boutique firm focused on strategic sourcing and procurement improvement. In 2014, the company released a series of procurement white papers, including The Procurement Technology Lifecycle and Building a Talent and Knowledge Management Program: The New Imperative for Procurement Organizations.
In late 2022, the company underwent a leadership transition in which founder John Evans became chairman of the board while longtime executive Conrad Snover was named chief executive officer, with Darshan Deshmukh appointed president.
Acquisition by Jabil
On November 1, 2023, ProcureAbility was acquired by Jabil (NYSE: JBL), a global manufacturing and supply chain services company, in a deal reported to be valued at approximately $60 million. The acquisition resulted in adding ProcureAbility's advisory, technology, and managed-services capabilities to Jabil's procurement practice. At the time of the acquisition, ProcureAbility had more than 160 employees.
Following the deal, ProcureAbility continued to operate as an independent entity within Jabil's corporate structure. At the time, Jabil reported net revenue of $34.7 billion for its 2023 fiscal year, which ended August 31, 2023, and described relationships with roughly 36,000 global suppliers and more than $29 billion in managed spend through its supply chain and procurement operations.
ProcureAbility was ranked in the Inc. 5000 Fastest-Growing Private Companies for 2022 and 2023 and Consulting Magazine's fastest-growing firms list in 2020 and 2022.
See also
- Jabil
- Procurement outsourcing