BV Investment Partners has acquired a majority stake in Acton, Massachusetts-based Apps Associates, a provider of IT services. No financial terms were disclosed. Signal Hill advised Apps Associates on the transaction.
BOSTON, November 30, 2017 – BV Investment Partners (“BV”), a middle-market private equity firm focused on the business services and IT services sectors, today announced a majority investment in Apps Associates, a global IT services organization focused on supporting mission-critical business applications and on helping facilitate enterprise customers’ digital and cloud transformation initiatives. The existing management team will maintain a considerable ownership in Apps Associates.
Founded in 2002 and headquartered in Acton, MA, Apps Associates is a rapidly growing, IT services business that specializes in implementing, optimizing and maintaining complex ERP, business intelligence, and cloud applications. The Company has long-standing partnerships with several leading technology companies, such as Oracle, Amazon Web Services (AWS) and Salesforce. By leveraging its global delivery platform with over 800 employees spanning the U.S., Europe and India, Apps Associates delivers on its commitment to provide “extreme expertise” around business-critical applications. Apps Associates has nearly 200 active enterprise customers serving life sciences, manufacturing and distribution, technology and business services industries among others.
Sridhar Bogelli, CEO and Founder of Apps Associates, said, “We have positioned Apps Associates as a trusted partner that can support our enterprise customers’ journey to the cloud as it relates to their most mission-critical business applications. We were careful in selecting a partner with the right experience in our sector, who can bring new ideas to the table and help us build upon the strong foundation already in place. BV distinguished itself early on. We are very aligned in our vision and objectives, including first and foremost continuing to deliver exceptional value to our customers and enabling our associates to grow their careers.”
Matt Kinsey, Managing Director of BV, said, “Apps Associates has established a strong market reputation due in part to its differentiated suite of forward-leaning, application services. The team has migrated complex ERP systems and associated applications from on-premise environments to the public cloud. They are also a leading partner helping customers deploy and leverage the Oracle ERP Cloud. We and management have ambitious plans for the future, including organic growth initiatives and strategic M&A.”
Sean Wilder, Principal of BV, said, “We are excited to align ourselves with another great management team and business that participates in attractive and growing segments of the broader IT services industry. We have worked collaboratively with the Apps Associates team to formalize a long-term strategic growth plan, and we’re looking forward to working with them going forward to execute on it.”
Signal Hill advised Apps Associates on the transaction.
About Apps Associates
Apps Associates is a global IT and business services organization that provides solutions for Cloud, Analytics and Integration. Our mission is to partner with customers to enable business improvement by streamlining business processes using advanced technology. We innovate by constantly launching new services and solutions and we differentiate through our relentless attention to delivery excellence and customer care. Apps Associates is an Oracle® Platinum Partner, a Premier Consulting Partner with Amazon Web Services, and a Salesforce Silver Consulting Partner. Apps Associates also partners with MuleSoftTM and Dell Boomi. www.appsassociates.com
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested $3.1 billion in 92 companies, actively targeting investments in the business services and information technology services industries. For more information, please visit www.bvlp.com.