WestView Capital Partners has exited its investment in Collaborative Solutions as a result of the latter’s acquisition by Cognizant. No financial terms were disclosed. Guggenheim Securities, William Blair & Company and DLA Piper advised Collaborative on the transaction. Based in Reston, Virginia, Collaborative Solutions is a global finance and HR transformation consultancy.
Reston, VA and Boston, MA
Collaborative Solutions announced today that WestView Capital Partners has successfully exited its investment in the company as part of Collaborative’s acquisition by Cognizant (Nasdaq-100: CTSH), a leading professional services company with a focus on digital solutions. WestView completed a minority growth investment in Collaborative in September 2016. Collaborative Solutions is a leading, full-service global finance and HR transformation consultancy with a focus on Workday.
As one of the largest and longest-tenured Workday Services Partners, Collaborative has completed over 800 Workday deployments across 125 countries, implementing Workday’s full product portfolio including HCM, Finance and Student. With a stringent focus on customer success, Collaborative has earned a 98% satisfaction rate across its customer base of Fortune 500 companies, medium sized businesses and education & government institutions ranging from 1,000 to 200,000 employees. Founded in 2003, Collaborative is headquartered in Reston, Virginia and has more than 1,000 employees worldwide. In addition to the U.S., the company has operations in Australia, Canada, and the United Kingdom. Collaborative Solutions was recently ranked No. 1 among small and medium companies in Fortune’s “Best Workplaces in Consulting and Professional Services.”
“WestView has been a highly supportive and strategic partner during our time together,” said Carroll Ross, Founder and CEO of Collaborative Solutions. “Their experience, insights and relationships were instrumental in our growth and development.”
“We are thrilled to have had the opportunity to partner with Carroll and his team,” said Rick Williams, Managing Partner of WestView. “Carroll is truly a world-class entrepreneur. The entire Collaborative team did an incredible job of rapidly scaling the business while maintaining exceptional service delivery, customer satisfaction and strong financial performance.”
Greg Thomas, General Partner at WestView added, “We are proud to be a part of the Collaborative story and are excited to see what the team can accomplish with their new partners at Cognizant.”
Collaborative Solutions was advised by Guggenheim Securities, William Blair & Company and DLA Piper.
About Collaborative Solutions
Collaborative Solutions is a leading, full-service global finance and HR transformation consultancy that leverages world-class cloud solutions to help deliver successful client outcomes. As the longest-tenured Workday Services Partner and customer, Collaborative Solutions has a 98% customer satisfaction rate with more than 800 Workday deployments in over 125 countries. Clients include Fortune 500 companies, medium-sized businesses, and education and government institutions, ranging in size from 1,000 to 200,000 employees. The company is headquartered in Reston, Virginia, and has offices in a number of locations throughout North America, Europe, and the Asia-Pacific. Additional information can be found by visiting https://www.collaborativesolutions.com/
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. Westview partners with existing management teams to sponsor minority and majority recapitalizations, growth and consolidation transactions in industries such as software and IT Services, business services, healthcare technology and outsourcing, growth industrial and consumer. For more information, please visit www.wvcapital.com.