PE Deals

Ridgemont invests in tech company SmartShift

SmartShift's current leadership team, including CEO Derek Oats, President & COO Vyom Gupta and CFO Kendall Walker, will remain in their current roles.

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  • Canaccord Genuity served as financial advisor to SmartShift on the deal
  • Goodwin Procter served as legal advisor to Ridgemont while Goldberg Kohn served as legal advisor to SmartShift
  • Based in Charlotte, North Carolina, Ridgemont Equity Partners invests in the middle market

Ridgemont Equity Partners has recapitalized SmartShift, a Boston-based tech-enabled services provider for SAP custom application migrations, upgrades and transformations. No financial terms were disclosed.

SmartShift’s current leadership team, including CEO Derek Oats, President & COO Vyom Gupta and CFO Kendall Walker, will remain in their current roles.

“SmartShift offers a unique and efficient automated solution to streamline the highly critical, resource-intensive process of migrating from a legacy SAP ERP platform to a modern cloud-based system,” said Anthony Cassano, a partner at Ridgemont in a statement. “Ridgemont is partnering with a talented management team that has been entrenched within the SAP ecosystem for their entire careers and has proven their ability to execute against an innovative vision of digital transformation and application modernization for SAP customers across the globe. We are excited to support the company with continued growth through product innovation and global sales and marketing expansion.”

Canaccord Genuity served as financial advisor to SmartShift on the deal. Goodwin Procter served as legal advisor to Ridgemont while Goldberg Kohn served as legal advisor to SmartShift. Debt financing for the transaction was provided by Barings.

Based in Charlotte, North Carolina, Ridgemont Equity Partners invests in the middle market.