Renovus Capital Partners has acquired Richmond, Virginia-based ProfitOptics, a digital transformation company. No financial terms were disclosed.
PHILADELPHIA, April 14, 2022 /PRNewswire/ — Renovus Capital Partners (“Renovus”), a Philadelphia-area based investment firm, announced today that it has acquired ProfitOptics (“the Company”). Founded in 2008 and headquartered in Richmond, VA, ProfitOptics is a digital transformation company that leverages its proprietary software and custom product development capabilities to automate clients’ manual workflows and help them achieve their business and profit targets. Client solutions are designed, developed, and managed by the Company’s team of business analysts, software developers and data architects. As a result of its partnership with Renovus, ProfitOptics intends to accelerate its growth by developing new technology competencies, expanding its regional footprint, and deepening customer focus in key target industries.
“It was an easy choice to partner with Renovus. Their success record of scaling founder-owned businesses combined with their expertise in the technology services space aligned well with our transaction objectives,” said Tony Pericle, Founder and CEO of ProfitOptics. “With Renovus’ network, experience, value creation resources and financial support, we are well positioned to execute on our growth initiatives including recruitment of top developers, strengthening our business development team, and increased adoption of our proprietary software product.”
“As a fast-growing enterprise operating at the intersection of two of our key verticals, Technology Services and Healthcare, ProfitOptics has all of the ingredients of becoming yet another successful platform for Renovus,” said Atif Gilani, Founding Partner at Renovus. “We look forward to supporting ProfitOptics on both organic and inorganic opportunities.”
ProfitOptics represents Renovus’ 12th Technology Services platform investment and its fourth from Renovus III, a $500 million private equity fund launched in 2021. Like its predecessor funds, Renovus III focuses primarily on control investments in the Knowledge and Talent industries in the lower middle market.
Founded in 2008, ProfitOptics is a technology services company that uses its proprietary software to deliver customized solutions to its global clients. The Company’s offerings include data and analytics, profit optimization, and enterprise application development and are supported by its on-shore and off-shore team, known for delivering cutting-edge technology development. Since inception, the data-driven solutions architected by the ProfitOptics team have generated over $1.1 billion in profits for its clients.