Sterling Investment Partners has recapitalized Anser Advisory, an advisory and consulting firm. Sterling acquired Round Table Capital Partners’ stake in Anser Advisory as a result of the transaction. No financial terms were disclosed. Houlihan Lokey served as financial advisor on behalf of RTC Partners and its affiliates.
ORLANDO, Fla.–(BUSINESS WIRE)– Anser Advisory, LLC (“Anser Advisory” or “Anser”) is pleased to announce the recapitalization of Anser Advisory pursuant to which Sterling Investment Partners IV LP (“SIP” or “Sterling”) and affiliated investors made a significant new equity investment and acquired Round Table Capital Partners’ (“RTC” or “RTC Partners”) interests in Anser Advisory. Anser Advisory is a national firm specializing in capital program advisory and consulting services, which include strategy, funding, process development, organization preparedness, as well as project, program and agency construction management and controls. Anser Advisory is ranked 15th in ENR’s 2020 Top 50 Program Management Firms, 2nd on the Zweig AE Fastest Growing Hot List for 2020 and is a certified Great Places to Work organization.
“We are thrilled for our new partnership with Sterling Investment Partners. We chose Sterling due to its track record of transparent collaboration and long history of successfully partnering with management to build recognized industry leaders. We could not envision a better partner for the next steps of executing our strategic vision to become the leading capital program and infrastructure management consulting firm across the nation,” said Bryan Carruthers, CEO of Anser Advisory.
“RTC has been an outstanding partner for our organization. They have supported our vision of growing a national professional services firm by committing to our values of being Employee-Centric, Client Focused and Results Driven. They saw the potential in our vision when it was still just a concept. RTC’s financial and strategic support has allowed us to establish a strong foundation for continued industry leading growth, and our entire organization is appreciative of their unwavering trust and support the last several years,” Bryan added.
Bill Macey, Managing Partner and Co-Founder of Sterling Investment Partners, commented, “Bryan and his team’s achievements in building Anser both organically and through acquisition into a leading “pure play” provider of capital program advisory, compliance and management services are impressive. We consider the long-term visibility of Anser’s programs, their resistance to economic cycles, and the highly fragmented nature of the industry, which creates a compelling build-up opportunity, particularly attractive. We are very excited to partner with Anser’s management.”
“RTC is incredibly proud of and grateful to Bryan and the entire Anser team for the outstanding work they have done in building this platform. In addition to executing on an aggressive growth plan, both organic and acquisitive, this team has also managed to build a best-in-class corporate infrastructure and instill a highly-engaged, high-performance culture that is truly differentiated,” commented Tony Brindisi, Co-Founder and Co-Managing Partner at RTC. Christopher Lee, the other Co-Founder and Co-Managing Partner, added: “Our goal in building the Anser organization was always to build a market-leading growth platform and to ultimately find a strong partner that was well-positioned to support the organization in achieving its next phase of expansion. We are excited to pass the torch to such a high-quality organization in Sterling and look forward to following their success.”
About Anser Advisory
Anser Advisory is a national firm specializing in capital program advisory and consulting services, including strategy, funding, process, organization preparedness, as well as project, program and agency construction management and controls. Anser services cover the capital development cycle from pre-planning through construction and closeout across a wide range of end markets, including transportation, energy, aviation, K-12 and higher education, state/local government, healthcare, water/sewer, cultural and housing.
About Sterling Investment Partners
Sterling Investment Partners is a private equity firm that has been investing in and building middle-market companies for 30 years with a highly-experienced, cohesive team of senior investment professionals. Sterling focuses on business services and value-added distribution, acquiring companies that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 180 transactions, representing $18.0 billion in transaction value. www.sterlinglp.com.
About RTC Partners
RTC Partners is a private investment firm that specializes in building middle market growth platforms. Together with management partners, RTC builds market leading companies through a combination of acquisitive and organic growth, while establishing highly professionalized corporate infrastructures that are capable of scaling organizations to the next level. Their strategies focus on high-growth niches of professional, business and healthcare services industries.
Barnes and Thornburg, LLP acted as legal counsel and BDO USA, LLP acted as tax advisor, and Houlihan Lokey served as financial advisor on behalf of RTC Partners and its affiliates.
Dechert LLP and Seyfarth Shaw LLP acted as legal counsel and Alvarez & Marsal LLP acted as tax advisor on behalf of Sterling Investment Partners and its affiliates.