Montage and Delvern invest in Advantco

Montage Partners and Delvern Capital has made an investment in Raleigh, North Carolina-based Advantco International LLC, a provider of software adapters. No financial terms were disclosed.


SCOTTSDALE, Ariz. and RALEIGH, N.C., July 18, 2019 /PRNewswire/ — Montage Partners, a people-first private equity firm based in Scottsdale, Arizona, and Delvern Capital announced today an investment in Advantco International LLC. Montage Partners is supporting incoming President, Nick Persavich, of Delvern Capital with equity to nurture growth initiatives and acquire a stake in Advantco from founder and CEO Michael Le.

Based in Raleigh, North Carolina, Advantco serves leading global companies with best-in-class software adapters that automate the integration of various enterprise applications with ERP systems, including SAP and Oracle. Additionally, Advantco provides offshore software development services from the company’s offices in Vietnam and provides on-site enterprise software implementation and integration services to prominent companies across the U.S. Chairman and CEO Michael Le views the partnership as a unique opportunity to facilitate a smooth transition of day-to-day leadership to Persavich, while simultaneously scaling the company and continuing its historical commitment to investing in innovation and the development of new solutions for its customers.

“I’m very excited to be working with Michael and Montage Partners,” said Persavich. “Montage Partners was clearly the best capital provider for this transaction, as they took the time to understand Advantco’s unique position in the market and why the company has nearly unlimited potential for growth. Michael and I have very ambitious goals for Advantco, and Montage Partners has been extremely supportive of our vision for the company.”

The investment represents Montage Partners’ 15th investment during its successful 15-year existence and deepens the firm’s commitment to investing in unique and differentiated technology companies. “Advantco’s adapters are truly differentiated within the enterprise application integration segment, as evidenced by the company’s successful track record serving many of the world’s largest and most sophisticated companies. Advantco’s culture reflects high standards, including hiring only the best developers that the world has to offer and a people-first commitment that ensures a win-win for customers and employees. Montage Partners is thrilled to partner with Michael, Nick and the Advantco team to continue the company’s successful legacy and provide capital to support continued growth,” said Jordan Tate, a partner at Montage Partners.

“I look forward to our new partnership with Nick and Montage Partners with peace of mind and great anticipation, knowing that Advantco and my legacy will continue to grow,” added Le. “I am confident that together we will build upon our historical success and accelerate Advantco’s ability to reach its full potential.”

The transaction closed July 16, 2019. Osborn Maledon, P.A. provided legal counsel to Montage Partners, Moore & Van Allen, PLLC provided legal counsel to Delvern Capital, and Wyrick Robbins Yates & Ponton LLP provided legal counsel to Advantco International LLC. Dixon Hughes Goodman LLP provided financial due diligence advisory services to Delvern Capital. Pinnacle Financial Partners provided senior debt financing to support the transaction.

About Montage Partners
Founded in 2004 and headquartered in Scottsdale, Arizona, Montage Partners is a people-first private equity firm dedicated to helping established businesses reach transformative growth. Since inception, the firm has invested over $58 million of equity across 15 companies with combined enterprise value in excess of $150 million. These 15 companies compete in diverse industries, including business and professional services, consumer, healthcare, industrial and technology. Above all other investment criteria, Montage Partners values exceptional people. Montage Partners is actively seeking investments in companies in the western U.S. with EBITDA between $1 million and $5 million. For more information, please visit