Renovus Capital Partners has acquired a majority stake in Premier International Enterprises. Financial terms of the deal were not disclosed.
This is technology M&A deal number 895 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Renovus, founded in 2010, is based in Wayne, Pennsylvania. The company has 29 employees listed on LinkedIn. Renovus’ areas of focus include education, training, and human capital businesses. Renovus targets investments in companies with $3 million to $15 million EBITDA, and will do smaller add-on acquisitions for portfolio companies, according to its website.
Premier, founded in 1985, is based in Chicago, Illinois. The company has 139 employees listed on LinkedIn. Premier’s areas of expertise include data conversion, data migration, data analytics and data cleansing.
Premier primarily works with large enterprises, leveraging its proprietary software tool to deliver data-related services.
Renovus' investment comes during a period of exceptional growth at Premier, according to the company. Premier plans to use the investment to improve its software product, pursue strategic acquisitions, and enhance its service offerings to clients, the company said.
Renovus Acquires Premier: A Platform Investment
Craig Wood, CEO, Premier, commented:
"Renovus brings significant experience investing in the technology services industry, and we are excited to leverage their knowledge to refine our strategy, scale our delivery resources, and expand our offerings both organically and inorganically. We remain focused on accelerating the future for our clients by bringing transformative data solutions to them and we are confident Renovus and their investment will unleash the full potential of Premier to support that goal."
Atif Gilani, founding partner, Renovus, said:
"As organizations scale and the market for big data grows, enterprises have been more and more focused on having clean, quality data in a centralized location. Premier is well-positioned to capitalize on these trends due to its differentiated data migration offerings coupled with new capabilities recently introduced, including master data management and data governance."
Jane Buckley, senior associate, Renovus, said:
"With Premier's strong leadership team and clear vision for the future, we are excited to provide the necessary resources to accelerate the growth and success of the Company.”
Ascent Advisory Partners served as financial advisor to Premier. DLA Piper served as legal counsel to Renovus.
Renovus’ Investment History
Renovus is no stranger to tech industry investment. The firm manages over $500 million of committed capital through two Small Business Investment Company (SBIC) funds. Inflow is the fifteenth platform company for Renovus’ second fund.
In April 2022, the firm acquired Richmond, Virginia-based ProfitOptics for an undisclosed sum. In January 2019, it bought Google Cloud Platform and G Suite partner Tempus Nova Inc . In April 2019, Renovus bought a controlling interest in KSM Consulting , an Indianapolis, Indiana-based technology services and data analytics consultancy. In January 2021, the firm acquired Inflow Communications, a managed services provider from Portland, Oregon.
