Diversis Capital has acquired ServicePower, a provider of mobile workforce management software. No financial terms were disclosed. As a result of the transaction, ServicePower has stopped trading on the London Stock Exchange.
February 10, 2017, McLean, VA/Stockport, UK, ServicePower, a market leader in mobile workforce management software, announced today that the acquisition by Diversis Capital and subsequent delisting from the AIM market of the London Stock Exchange has been completed. Diversis will provide ServicePower with financial investment and business expertise to help it achieve long term growth and promote the ongoing successes of its partners, employees and customers, building upon the Company’s successful 2016 performance which featured double-digit revenue growth and EBITDA profitability.
Through the deployment of its transformational technology used by some of the largest companies in manufacturing, insurance, security, utilities and telecom, ServicePower helps any field based business with high-value assets or high job volume to grow revenues, add additional lines of service, and improve customer satisfaction resulting in rapid return on investment. ServicePower is the leader in working with customers to optimize the use of employed and extended workforces, allowing its customers to embrace the latest technology and business process innovations, including enabling ‘Uber-like’ capabilities.
“We are increasingly working in a world where customer service is paramount,” said Ron Nayot, Managing Partner at Diversis. “When we looked at where the best potential investment for Diversis would be, ServicePower was the clear choice. We believe market demand will continue to increase for the Company’s mobile workforce solutions and the business transformation it enables. Diversis is excited to partner with ServicePower to invest in its next phase of growth.”
“We really want to push the boundaries of what is possible so that our clients can deliver personalized services in the field that are remarkable, that make them stand out from the crowd in the eye of their customers,” said Marne Martin, CEO of ServicePower. “As a private company with the backing of a well-respected investment firm like Diversis, we can move faster and push harder than ever on the rollout of our industry-best artificial intelligence engine for scheduling, leadership in extended workforce management, and focused development for the core markets we serve. We are in a much better position to deliver on our considerable ambitions with both the financial and business guidance Diversis provides. We anticipate great success and continued growth.”
ServicePower is the only mobile workforce management platform which facilitates true, multifactor schedule optimization and intelligent dispatching to employed or contracted workforces, while providing the most robust claims and warranty management software in the industry, as well as full mobilization of on-site process to support every field based event. ServicePower’s platform supports organizations with high transaction volumes, high asset values or high personnel costs as each transforms their businesses, capturing new business opportunities and producing measurable, valuable customer outcomes.
For more, visit www.servicepower.com
About Diversis Capital
Founded in 2013, Diversis Capital, LLC is a North American private equity firm with a focus on carve-outs, standalone deals and special situations in the lower and middle markets that require both sharp financial acumen and operational expertise to reach success. The tight-knit team of professionals has experience working on complex transactions and leveraging deep hands-on operational expertise to help companies and their management teams achieve full potential. While Diversis Capital is generally industry agnostic, technology, and specifically software, is a core focus area of the firm. Diversis was founded by Managing Directors Ron Nayot and Kevin Ma and is currently in full acquisition mode with a goal of executing several transactions annually.
For more information please visit: www. http://diversiscapital.com/