The tide goes out on Sverica’s iWave investment with sale to Incline

Sverica acquired iWave in 2017 from executive Jamie Hill.

  • iWave tripled in size under the five-year ownership of Sverica
  • The company provides education, healthcare and non-profit organizations with actionable intelligence for their fundraising teams
  • Incline invests in companies in the value-added distribution, specialized light manufacturing and business services sectors

Sverica Capital Management this announced the sale of its portfolio company iWave to Incline Equity Partners. No financial terms were disclosed.

iWave, headquartered in Charlottetown, Prince Edward Island, provides education, healthcare and non-profit organizations with actionable intelligence based off wealth, philanthropic and biographical data for use by fundraising teams.

Sverica acquired iWave in 2017 from executive Jamie Hill. iWave has since tripled in size, with increased profitability and solidified market leadership in the fundraising intelligence industry, according to the firm.

“Over the past five years, iWave has been transformed and engineered into a world-class fundraising intelligence organization that, on a daily basis, has the privilege of serving and supporting its clients as they fulfill their respective missions to make the world a better place, said Ross Beattie, CEO of iWave, in a statement. “This rapid evolution of iWave would not have been possible without the guidance, support and collaboration with Sverica.”

Sverica is a Boston-based lower mid-market private equity firm that invests across the healthcare, industrial and technology sectors.

Incline, headquartered in Pittsburgh, is a private equity firm that invests in companies with an enterprise value between $25 million to $750 million in the value-added distribution, specialized light manufacturing, and business services sectors. To date, it has raised $3.8 billion.

Shea & Company served as the exclusive financial advisor, and Choate, Hall & Stewart served as counsel, to iWave on the transaction.