M&A Deal Summary

Navisite Acquires Velocity Technology Solutions

On January 6, 2021, Navisite acquired internet software and services company Velocity Technology Solutions from Sumeru Equity Partners and Partners Group AG

Acquisition Highlights
  • This is Navisite’s 3rd transaction in the Internet Software and Services sector.
  • This is Navisite’s 4th transaction in the United States.
  • This is Navisite’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2021-01-06
Target Velocity Technology Solutions
Sector Internet Software and Services
Buyer(s) Navisite
Sellers(s) Sumeru Equity Partners
Partners Group AG
Deal Type Add-on Acquisition
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)
Weil Gotshal & Manges (Legal)

Target

Velocity Technology Solutions

Charlotte, North Carolina, United States
Velocity Technology Solutions, Inc. is a provider of enterprise software hosting and systems integration services to mid-market businesses and government entities. Velocity Technology Solutions was founded in 2003 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Navisite

Warrendale, Pennsylvania, United States
Category Company
Founded 1994
Sector Information Technology
DESCRIPTION

Navisite is a modern managed cloud service provider that accelerates IT transformation for thousands of growing and established global brands. Through its deep technical knowledge and strategic relationships with the world’s leading cloud providers, proven delivery methodologies, platform-agnostic approach and worldwide network of highly specialized experts, the company provide the capabilities and practical guidance customers need to successfully embrace IT change and move their businesses forward.

DEAL STATS #
Overall 5 of 6
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 4 of 5
State (North Carolina) 1 of 1
Country (United States) 4 of 5
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-26 NaviSite

Andover, Massachusetts, United States

NaviSite, Inc. is a provider of enterprise-class, cloud-enabled hosting, managed applications and services. NaviSite provides a full suite of reliable and scalable managed services, including Application Services, industry-leading Enterprise Hosting, and Managed Cloud Services for enterprises looking to outsource IT infrastructure and lower their capital and operational costs. Enterprise customers depend on NaviSite for customized solutions, delivered through a global footprint of state-of-the-art data centers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 EightCloud

Kirkland, Washington, United States

EightCloud provides extraordinary depth and breadth of Salesforce expertise with much greater efficiency than the traditional consulting model. As a Salesforce Consulting Partner, EightCloud is a trusted advisor to mid-and large-sized businesses, government agencies, and non-profits, guiding them to a better future with customized advisory, implementation, and managed services. EightCloud was formed in 2011 and is based in Kirkland, Washington.

Buy -

Seller(S) 2

SELLER

Sumeru Equity Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.

DEAL STATS #
Overall 8 of 11
Sector (Internet Software and Services) 5 of 5
Type (Add-on Acquisition) 3 of 6
State (North Carolina) 1 of 1
Country (United States) 6 of 8
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-08 Cybera

Franklin, Tennessee, United States

Cybera is a provider of security as a service virtual application networks to enterprises. Cybera solves the networking and security needs of highly distributed enterprises. Cybera was founded in 2001 and is based in Franklin, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 JobNimbus

Lehi, Utah, United States

JobNimbus is a software company that serves contractors and business owners in the home services construction industry with its project management, CRM platform, and growth services. JobNimbus has expanded its offerings across 11 home service industries, specializing in roofing, solar installation, and exterior renovations. JobNimbus was founded in 2013 and is based in Lehi, Utah.

Buy -
SELLER

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 17 of 25
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (North Carolina) 3 of 3
Country (United States) 9 of 11
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-09 Wedgewood Pharmacy

Swedesboro, New Jersey, United States

Wedgewood Pharmacy is a pharmacy specializing in animal health, addiction medicine, and urology. Wedgewood has a broad and diverse portfolio of offerings, leading to low customer and stock concentration; holds strategic partnerships with veterinary corporate groups; and offers a defined value proposition to veterinary clinics and pet owners. Wedgewood Pharmacy was founded in 1980 and is based in Swedesboro, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 Careismatic Brands

Chatsworth, California, United States

Careismatic Brands is a designer, marketer, and distributor of high-quality uniforms, footwear and accessories to retailers. The company manufactures products through multiple brands. Careismatic Brands was founded in 1995 and is based in Chatsworth, California.

Buy -
Mergr

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Legal