Bregal Sagemount has invested in Procurement Advisors LLC. Financial terms weren’t announced. Procurement Advisors, of Atlanta, is a group purchasing organization focused on the maintenance, repair, and operating supplies market. PA founders Suja Katarya and Keith Brower will continue to retain a stake.
Procurement Advisors Receives Strategic Growth Investment from Bregal Sagemount
Atlanta-based group purchasing organization Procurement Advisors, LLC (“PA”) today announced that it has received a significant growth investment from New York-based private equity firm Bregal Sagemount. PA is the leading technology and data-enabled group purchasing organization (“GPO”) focused on the maintenance, repair, and operating supplies (“MRO”) market. As a part of the transaction, PA founders Suja Katarya and Keith Brower will continue to retain a significant stake in the business.
“We are very excited to bring in the Sagemount team as a strategic and financial partner,” commented Suja Katarya, CEO and Managing Partner at PA. “We have a tremendously exciting future ahead of us as we grow our membership base, strengthen our technology and processes, and expand into new product categories to drive maximum value for our members. The investment from Sagemount will allow us to further accelerate our innovations in the MRO space.”
“MRO can often be an overlooked part of a company’s indirect spend, which creates a massive opportunity to drive value,” said Gene Yoon, Managing Partner at Bregal Sagemount. “We invested in Procurement Advisors because its member-centric, data-driven solution represents the market leading approach to effectively manage MRO spend.” Pavan Tripathi, Principal at Bregal Sagemount, added, “PA’s unique combination of purchasing power, focus on driving compliance, and constant evolution of pricing and product enables the company to manage a previously unmanageable category.”
Terms of the investment were not disclosed. Sagemount’s investment was led by Gene Yoon, Pavan Tripathi, Arjun Mehta, Gerald Castaldo and Connor Pams. Kirkland & Ellis provided legal counsel to Procurement Advisors. Goodwin Procter provided legal counsel to Bregal Sagemount.
About Procurement Advisors
Procurement Advisors is an Atlanta-based group purchasing organization that specializes in the sourcing of maintenance, repair, and operating supplies and corrugated materials for more than 500 independent and private equity-affiliated companies in over 11,000 locations globally. The Company works closely with its distributor base to negotiate and optimize pricing across over 4 million SKUs for its participating members. For additional information on its leading MRO purchasing solution, please contact Procurement Advisors directly. Call +1.404.902.5373, email PA_Contact@Procurementadvisors.com, or visit www.procurementadvisors.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with over $2 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.