New York, NY, USA, September 2, 2021 – PROtect, LLC, a leading national safety, reliability, and compliance services firm based in Wichita, KS, successfully consummated its acquisition of Riccardelli Consulting Services, Inc. (RCS), a premier Lehi, UT based provider of advanced and conventional non-destructive testing focused on pipeline integrity for the midstream oil & gas industry.
The combined PROtect, RCS organization will be led by Nathan VanderGriend, President & CEO, and will be significantly enhanced by the addition of Sean Riccardelli to the management team.
“RCS’s industry reputation, top-notch team, and proven unmatched service standards make them a great fit,” stated Nathan VanderGriend, President & CEO of PROtect. “Furthermore, we believ09.02e that this integration will lead to accelerated business growth, providing opportunities for our combined customers to access a more diverse suite of service offerings and expertise.”
“We are excited for the new partnership with the PROtect team and excited to have joined forces. Like ourselves, PROtect is a quality-focused organization that strives to exceed the expectations of its customers, offer unique solutions and take care of its employees,” said Sean Riccardelli, Owner and President of RCS. “We couldn’t be more pleased to find the perfect partner in Nathan and his team. The two companies have shared values and a vision to bring the highest quality services to the industries served to ensure safety, reliability, and compliance of our customer’s operations.”
The companies will retain all team members and continue to operate out of their current locations. Both companies will also operate under their current brands for the immediate future.
Dentons US LLP served as legal counsel to PROtect. Richards, Brandt, Miller, Nelson served as legal counsel to RCS.
About Spire Capital Partners
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in lower middle market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing, and advisory experiences that they leverage to assist portfolio companies in accelerating growth, guiding strategic direction, and executing their business plans.
Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Act of 1940. Market conditions can vary over time, and past fund performance does not guarantee future fund results.
About PROtect, LLC
Headquartered in Wichita, KS, PROtect, LLC (formerly ERI Solutions, LLC & DBI, Inc.) (https://protect.llc/) is a professional services company that provides safety, reliability, and compliance services to high-hazard industries such as biofuels, chemical, oil & gas, power generation, pulp and paper, and allied industries. Such categories include advanced and conventional non-destructive testing (NDT), mechanical integrity (MI), environmental, health, safety, process safety, and insurance program management. PROtect’s engineers, consultants, and technicians dispatch to service our customers from various locations within the continental United States to ensure timely and cost-effective delivery of service.
PROtect also operates ERM SPC, Ltd., a segregated portfolio captive reinsurance company domiciled in the Cayman Islands focused on reinsuring workers’ compensation, general liability, and property of qualified risks.
About Riccardelli Consulting Services, Inc. (RCS) – Sean Riccardelli formed RCS (https://rcsnde.com/) in 2007 as a pipeline integrity contractor, providing NDE technical support for anomaly evaluation and In-Line Inspection smart tool validation. RCS leads the industry with the concept of “Integrity Delivers Quality” as the core foundation to who they are. Utilizing and partnering with leading manufacturers and educational facilities, they bring new levels of quality assurance and certification to system integrity and process safety management.
About Riccardelli Consulting Services, Inc. (RCS)
Sean Riccardelli formed RCS (https://rcsnde.com/) in 2007 as a pipeline integrity contractor, providing NDE technical support for anomaly evaluation and In-Line Inspection smart tool validation. RCS leads the industry with the concept of “Integrity Delivers Quality” as the core foundation to who they are. Utilizing and partnering with leading manufacturers and educational facilities, they bring new levels of quality assurance and certification to system integrity and process safety management
Accel-KKR | Aug 26, 2021
Menlo Park, CA & Dallas, TX – August 26, 2021 – Accel-KKR Credit Partners today announced that it has provided debt financing to support the next stage of growth for Trax Technologies, the leading global transportation spend management and payments company serving global shippers with sophisticated logistics ecosystems. Accel-KKR Credit Partners is a credit fund managed by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.
Trax offers efficiency for both shippers and carriers by offering a robust software platform that streamlines freight auditing, cost allocation, logistics data processing and analytics, payment automation and settlements. Trax serves the global multi-modal market including freight, air, ocean, rail and parcel, and the company is a trusted partner of some of the world’s largest and most sophisticated supply chains within technology, retail, consumer goods, life sciences, industrial manufacturing and 3PL/4PL segments. Trax has revolutionized the decades-old freight audit space into a comprehensive transportation spend management category by using machine learning, big data and analytics to drive continuous improvement in its customers’ supply chains while providing cashflow and payments options to enable effective working capital management for shippers and carriers alike.
Trax is led by industry veterans with deep experience in the spend management category and is backed by leading technology investors, Strattam Capital and Spire Capital.
“We are a technology-first organization,” said Hamp Wall, CEO of Trax. “The freight audit industry has historically been very manual, but Trax is laser-focused on utilizing the latest technologies to increase the maturity and resiliency of our clients’ logistics networks. This strategic direction differentiates us from the competition. With this financing, we look forward to continuing to lead the space through innovation.”
“The world has never seen such a constrained logistics market, with shippers and 3PLs constantly challenged to manage budgets and cashflow while increasing capacity and responsiveness,” said Robert Morse, Partner at Strattam Capital. “Trax offers transparency and expense management control over this critical cost of goods while enabling large, global shippers to identify trends and make timely and strategic cost decisions.”
“This is a pivotal time for the freight audit industry” said Sean White, Partner at Spire Capital. “Trax is a pioneer in moving beyond the traditional audit function to a cloud-first software platform that enables global visibility, control and insights across all modes, all carriers and all regions. Trax has successfully built a scaled platform, yet the team remains very attuned to the customer’s evolving needs. We are excited to welcome Accel-KKR’s software lending and investing experience in helping Trax grow.”
“Logistics spend is a meaningful part of the global economy” said Samantha Shows, Managing Director at Accel-KKR. “Trax’s software is mission-critical to its customers and provides an essential function in operational efficiency, cost management and working capital improvements for both shippers and suppliers. We are excited to support Trax in their next stage of growth.”
About Trax Technologies:
Trax is the global leader in Transportation Spend Management solutions. Combining industry leading cloud-based applications with expert services, we are transforming traditional freight and parcel audit to help customers better manage and control their global transportation costs and drive enterprise-wide efficiency. With a global footprint spanning North America, Latin America, Asia and Europe, we deliver data-based visibility and insights, higher savings and better control of transportation spend for shippers and 3PLs/4PLs of all sizes. Visit us at www.traxtech.com.
About Strattam Capital:
Strattam Capital invests in founder-led, independent, B2B software technology companies outside of Silicon Valley. Headquartered in Austin, Texas, we connect companies with the people, process, and scale needed to reach their potential. We believe in aligning with founders before signing, via our Five-Point Plan process, to allow execution with purpose, excitement, and efficiency. For more information, please visit Strattam.com.
About Spire Capital:
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs“, an annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. To learn more, visit accel-kkr.com.
About Accel-KKR Credit Partners:
Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institutionally-owned businesses. The debt capital is used to support acquisitions, dividends, shareholder buy-backs and growth investment. Accel-KKR Credit Partners has completed over 35 investments and deployed over $500 million in capital.
The Integrated Solutions acquisition will expand Dynamic Quest’s geographic presence into Alabama
Greensboro, NC (April 9, 2021) – Spire Capital-backed Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses, completed the acquisition of IT 4 the Planet dba Integrated Solutions (“Integrated Solutions”), a Birmingham, Alabama-based managed service provider.
Dynamic Quest, led by CEO and Founder Javier Gomez, continues to execute on its strategic vision to become a regional leader in the Southeastern United States with its acquisition of Integrated Solutions. This marks the seventh acquisition for Dynamic Quest since the formation of its partnership with Spire Capital in Q2 2018.
Integrated Solutions offers managed IT, disaster recovery, and cybersecurity services to businesses and enterprises across medical providers and a wide variety of other verticals. The company has a long-tenured and strong customer base. The Integrated Solutions team members will join Dynamic Quest and continue to serve the Alabama market.
Javier Gomez, CEO of Dynamic Quest stated, “Dynamic Quest is very fortunate to have the Integrated Solutions team join our Dynamic Quest family. Curtis Woods and Aaron Woods at Integrated Solutions have done a terrific job growing the business and building a strong reputation as a customer focused and dependable IT team. We are looking forward to the next phase of growth together.”
Curtis Woods and Aaron Woods, owners of Integrated Solutions conveyed, “We are excited to be joining Dynamic Quest. They have a culture of integrity and exceptional service to their clients. As part of Dynamic Quest, we will be able to deliver significant benefits to both our team and clients throughout a much broader geographic region.”
The transaction will expand Dynamic Quest’s presence into Alabama and provide the ability to cross-sell a broader base of products and services to the Integrated Solutions customer base. Dynamic Quest will look to leverage its infrastructure including its data center, centralized delivery team, and sales and marketing initiatives to enhance service solutions for end clients and accelerate growth.
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Dynamic Quest
Founded in 2000, Dynamic Quest is a managed service provider for IT services to enterprises and mid-sized businesses. Dynamic Quest offers a broad set of services including hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina. Dynamic Quest currently has satellite offices in Winston-Salem and Raleigh, North Carolina; Atlanta and Valdosta, Georgia; Jacksonville, Florida; and Clark, Philippines. For more information, visit https://dynamicquest.com/ or follow Dynamic Quest on LinkedIn
About Integrated Solutions
Headquartered in Birmingham, Alabama, Integrated Solutions is an IT managed service provider to small to medium sized businesses. For more information about Integrated Solutions, visit the company website https://integratedsolutions.us/.
The BoxMeta acquisition will expand Dynamic Quest’s geographic presence into Florida.
GREENSBORO, NC (March 29, 2021) – Spire Capital-backed Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses, completed the acquisition of BoxMeta (“BoxMeta”), a Jacksonville, Florida-based managed services provider.
Dynamic Quest, led by CEO & Founder Javier Gomez, continues with its strategic vision to expand in the Southeastern United States with the acquisition of BoxMeta. This marks the sixth acquisition for Dynamic Quest since the formation of its partnership with Spire Capital in Q2 2018.
Founded in 2001, BoxMeta offers managed IT, disaster recovery and hosting services to businesses and enterprises across a wide variety of verticals. The majority of BoxMeta’s revenue is recurring with a strong, loyal customer base. The BoxMeta team members will join Dynamic Quest and continue to serve the Florida market.
Javier Gomez, CEO of Dynamic Quest relayed, “Dynamic Quest continues to grow organically and strategically acquiring businesses to better serve our clients and partners. We are excited to welcome the BoxMeta team to the Dynamic Quest family. David and Luisa Russoman at BoxMeta have done a fantastic job building up a great company that provides its customers with dependable and critical IT services.”
David and Luisa Russoman, founders of BoxMeta conveyed, “We are thrilled to be joining Dynamic Quest. They have a strong reputation for reliability and exceptional service. Both our team and customers look forward to the significant benefits we’ll soon be delivering throughout a much broader geographic region.”
The transaction will expand Dynamic Quest’s presence into Florida and provide the ability to cross-sell a broader base of products and services to the BoxMeta’s customer base. Dynamic Quest will look to leverage its infrastructure including its data center, centralized delivery team as well as sales and marketing initiatives to enhance service solutions for end clients and accelerate growth.
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Dynamic Quest
Founded in 2000, Dynamic Quest is a managed service provider for IT services to enterprises and mid-sized businesses. Dynamic Quest offers a broad set of services including hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina. Dynamic Quest currently has satellite offices in Winston-Salem and Raleigh, North Carolina; Atlanta and Valdosta, Georgia; and Clark, Philippines. For more information, visit https://dynamicquest.com/ or follow Dynamic Quest on LinkedIn.
About BoxMeta
Founded in 2001 and based in Jacksonville, Florida, BoxMeta is an IT managed service provider to small to medium sized businesses. For more information about BoxMeta, visit the company website https://www.boxmeta.com/.
Source: Spire Capital Partners
Media Contact: David Schaible
Phone: (212) 218-5454
Spire Capital’s investment in Inception will support the Company’s impressive growth momentum by enabling expansion of its facilities, products, and services
NEW YORK (January 6, 2021) – Spire Capital, a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media, and education sectors, today announced its investment in The Inception Company, LLC (“Inception” or the “Company”). Founded in 2005, Inception is a leading technology-driven production company that builds and supports virtual engagement products and services to help clients reach and more fully connect with their stakeholders.
Inception’s services include Pando™, (www.pandomeetings.com), a virtual meeting platform that integrates a full production studio with a video wall that simulates the experience of live, in-person meetings, and Grove™, a secure and compliant web conferencing platform supported by white-glove services for industry agnostic enterprise clients. Inception also provides premium broadcast, video, and meeting services solutions. Spire is partnering with the existing team led by CEO Matt Giegerich and President Shaun Urban. Founder Doug Mack will transition to a Board role.
Spire’s investment in Inception will provide capital to build out new Pando™ studios, enhance research and development, expand sales and marketing efforts, and enable complementary acquisitions.
Matt Giegerich, CEO of The Inception Company said “The future is bright, and we are thrilled with our new partnership with Spire. The focus of their investment strategy, extensive and far reaching business relationships and experience in scaling similar companies is exactly what we’ve been looking for in a partner.” Shaun Urban, President of The Inception Company added “We could not be more excited about our collaboration with Spire and what lies ahead. Importantly, our internal team members and clients alike will benefit immensely from the resources and commitment that Spire will bring to bear quickly for our growing organization. As clients continue to integrate virtual solutions into their strategies, new needs will arise and we will be uniquely positioned to address them.”
Sean White, Partner at Spire Capital, said, “Doug, Matt, and Shaun have assembled a deeply talented management team and built an incredible company that has grown to become a leader in virtual engagement solutions. We are proud to partner with the Company during its next stage of growth.”
Andy Armstrong, Partner at Spire Capital added, “The market for virtual engagement solutions has grown dramatically in recent years. The COVID-19 pandemic boosted demand for these types of services, including web conferencing and virtual events, and accelerated trends toward telecommuting. The shift to the remote workplace is here and companies need to find suitable technology solutions that simulate in-person meetings and facilitate collaborative work while increasing cost efficiencies. Inception is uniquely positioned to take advantage of this enormous opportunity and deliver tremendous value to its clients. Spire is excited about the partnership with this management team to execute on the opportunity to grow the brand, footprint and client base.”
Sean White, Andy Armstrong, and Brad Johnson of Spire Capital will be members of Inception’s Board of Directors.
Dentons LLP served as legal counsel to Spire Capital. Intrepid Investment Bankers acted as exclusive financial advisor to The Inception Company, while OlenderFeldman served as its legal counsel. Santander provided debt capital for the transaction.
About The Inception Company
Founded in 2005, The Inception Company (https://inceptioncompany.com/) Inception is a leading technology-driven production company that builds and supports virtual engagement products and services to help clients reach and more fully connect with their stakeholders. The Company delivers virtual meeting platforms, broadcast, video, and meeting services solutions and is headquartered in Fairfield, NJ.
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing, and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction, and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Follow Spire on LinkedIn (https://www.linkedin.com/company/spire-capital-partners/) to stay up-to-date on all the latest news and events.
Source: Spire Capital Partners
Media Contact: Sean White
Phone: 212-218-5454
Email: swhite@spirecapital.com
NEW YORK, NY (December 21, 2020) – Spire Capital Partners is pleased to announce that Shelly Zhu has joined their firm as a Vice President. Shelly has over 6 years of experience in the private equity industry. Prior to joining Spire Capital, Shelly was a Senior Associate at Presido Investors, where she supported transactions within the technology and business services sectors. Shelly began her career at JP Morgan and spent time at Houlihan Lokey and Centre Partners. Shelly received a BA in Economics from Columbia University, and an MBA from The University of Chicago with a Finance Concentration.
The addition of Shelly will support the continued growth of Spire Capital’s investment team. Spire Capital’s investment professionals contribute uniquely and collectively to the firm’s success as a lead and control investor in lower middle market buyouts within the business services, education, media, and communications sectors.
“We are very excited to introduce Shelly to our portfolio company management teams and investors. The execution experience she brings to Spire Capital will serve both our current management teams as well as the teams we partner with in the future,” said Sean White, a partner at Spire Capital Partners.
About Spire Capital Partners
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire Capital professionals have a broad array of past operating, investing, and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction, and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
Spire Capital’s investment in Advocate will support the Company’s growth of its business lines and provide capital for complementary acquisitions
NEW YORK (August 27, 2020) – Spire Capital, a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media, and education sectors, today announced its investment in Advocate Networks, LLC (“Advocate” or the “Company”). Advocate is the Premier TBM Services Company providing technology business management (“TBM”) and technology expense management (“TEM”) services to enterprise organizations needing to optimize their technology strategy and infrastructure. Spire is partnering with Co-CEOs, Tim Wise and Scott Fogle, who founded the Company in 2001 and will continue to lead the Company. This investment marks the second platform investment in Spire’s fourth fund.
Advocate’s services include TBM-as-a-Service, TEM-as-a-Service, and advisory services that assist their clients in expense and contract management, business/data analytics, IT cost reduction, and IT planning. Advocate has built a proprietary data warehouse solution known as “Helix” and an automation platform known as “Yottamation”, that combine to enable differentiated service offerings to its clients. Advocate was named Apptio’s #1 Enterprise Partner for North America in 2019, confirming Advocate’s “premier” positioning.
Advocate has grown consistently since its founding with recurring revenue now accounting for nearly 70% of revenue. The Company, headquartered in Atlanta, GA, serves enterprise customers across the United States whose annual IT spend is between $50 million and $500 million across various market verticals.
Spire’s investment in Advocate will provide capital to enhance research and development, expand both solutions and geographies, and enable complementary acquisitions.
“After a rigorous process that started in 2019, we selected Spire Capital as our strategic partner. We feel the culture fit is strong, the strategic alignment is sound, and the opportunity to scale the business with David and his team is outstanding. We are delighted to start the next chapter of growth, innovation, and TBM leadership with Spire.” Tim Wise and Scott Fogle, Co-CEOs, shared.S
David Schaible, Partner at Spire Capital, relayed, “Tim Wise and Scott Fogle have built an incredible company and assembled a deeply talented management team that has grown to become the leader in managed services for TBM and TEM.” Spire Capital bases its investment thesis on the conviction that IT services represent an ever-evolving area of opportunity. Advocate has positioned its platform and service offerings alongside its software partners to deliver tremendous value for its customers. We are proud to partner with the Company to effectuate their next stage of growth.”
David Schaible, Andy Armstrong, and Rupali Varma of Spire Capital will join Advocate’s Board of Directors as part of the investment.
Eisner LLP served as legal counsel to Spire Capital. Citizens M&A Advisory acted as exclusive financial advisor to Advocate Networks, while Barnes & Thornburg served as legal counsel. Synovus Bank provided debt capital for the transaction.
About Advocate Networks
Founded in 2001, Advocate (https://advocateinsiders.com/), the Premier TBM Services Company, provides technology business management (“TBM”) and technology expense management (“TEM”) services to enterprise organizations looking to optimize their technology strategy and infrastructure. Advocate is headquartered in Atlanta, GA, with 91 employees. Follow Advocate on LinkedIn (https://www.linkedin.com/company/advocate/), Twitter (https://twitter.com/advocateinsider), and Facebook (https://www.facebook.com/AdvocateInsiders/).
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing, and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction, and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Follow Spire on LinkedIn (https://www.linkedin.com/company/spire-capital-partners/) to stay up-to-date on all the latest news and events.
Source: Spire Capital Partners
Media Contact: David Schaible
Phone: 212-218-5454
Email: dschaible@spirecapital.com
Spire Capital-backed Dynamic Quest Completes Third Acquisition of 2020 to Continue its Growth in Managed IT
GREENSBORO, NC (August 25th, 2020) – Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses, completed the acquisition of Southern Data Solutions (“SDS”), an Atlanta, Georgia-based managed services provider.
Dynamic Quest, led by CEO & Founder Javier Gomez, continued with its strategic vision to expand in the Southeastern United States with the acquisition of SDS. This marks the fifth acquisition for Dynamic Quest since the formation of its partnership with Spire Capital in Q2 2018.
Javier Gomez, CEO of Dynamic Quest conveyed, “Dynamic Quest continues to grow organically and is strategically acquiring businesses to add greater breadth to our services portfolio and geographic reach to better serve our clients and partners. The team at SDS has done a fantastic job building up a great company that provides its customers with dependable, critical IT services. This marks our second acquisition in Georgia in Q3 2020 and we are very excited to welcome the SDS team to the Dynamic Quest family.”
Founded in 2005, SDS offers managed IT, disaster recovery and hosting services to businesses and enterprises across a wide variety of verticals. Approximately 75% of SDS’s revenue is recurring with a strong, loyal customer base. The SDS team members will join Dynamic Quest and continue to serve the Georgia market.
Jeff Davis, President of SDS relayed, “We are thrilled to be joining Dynamic Quest and positioning ourselves to better serve our current customers by leveraging Dynamic Quest’s infrastructure, broader solution set and scale. Our team and customers look forward to the significant benefits we’ll soon be delivering.”
The transaction will enhance Dynamic Quest’s market share in Georgia and provide the ability to cross-sell some services to SDS’s customer base that are not currently offered. Dynamic Quest will look to leverage its infrastructure including its data center, centralized remote delivery team and sales and marketing initiatives to enhance service solutions for end clients and accelerate growth.
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Dynamic Quest
Founded in 2000, Dynamic Quest is a managed service provider for IT services to enterprises and mid-sized businesses. Dynamic Quest offers a broad set of services including hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina. Dynamic Quest currently has satellite offices in Winston-Salem and Raleigh, North Carolina; Atlanta and Valdosta, Georgia; and Clark, Philippines. For more information, visit https://dynamicquest.com/ or follow Dynamic Quest on LinkedIn
About Southern Data Solutions
Founded in 2005 and based in Atlanta, Georgia, Southern Data Solutions is a managed service provider for IT services to small to medium sized businesses. For more information about Southern Data Solutions, visit the company website https://www.therightmsp.com/.
Media Contact: David Schaible
Phone: (212) 218-5454
The combination creates a dominant U.S. provider of testing, inspection, certification and compliance services.
NEW YORK (August 5, 2020) – Spire Capital Partners (“Spire Capital” or “Spire”), a leading New York-based private equity firm specializing in the technology-enabled business services, media, communications and education sectors, today announced an investment in DBI Group (“DBI”). Founded in 1992 and headquartered in Lenexa, KS, DBI is a leader in providing non-destructive testing, mechanical integrity inspections, pipeline integrity inspections and heat treat services throughout the U.S.
Spire’s simultaneous acquisition of DBI and merger with existing portfolio company ERI Solutions (“ERI”), brings together two leading testing, inspection, certification and compliance providers. The combination of DBI and ERI bolsters the market presence and service offerings of both enterprises. The go-forward business will be led by Nathan Vander Griend, President & CEO of ERI, and will continue to be supported by both ERI and DBI management teams.
“DBI’s great industry reputation, top-notch team, blue-chip client roster, and safety record make them a great addition to ERI,” stated Nathan Vander Griend, President & CEO of ERI. “Furthermore, we believe that this integration will lead to significant business growth, providing opportunities for the members of the team to grow professionally, for our combined clients to have access to a more diverse suite of service offerings, and for our shareholders’ value to increase.”
“We are excited about our future together with ERI and view this as an opportunity for growth in expanded geographies and with additional technologies. Our customers will continue to receive excellent service as we strengthen the combined company with client-facing enhancements and a more diverse service line. We also believe this merger will provide professional growth opportunities for the members of our team,“ stated Jeff Hilfiker, President & CEO of DBI.
“With this combination, ERI and DBI will serve a broad base of energy and infrastructure customers across the U.S., playing a critical role in mitigating business and regulatory compliance risk,” said Brad Johnson, Vice President at Spire Capital. “As a single company, ERI and DBI will be able to provide comprehensive service offerings to customers across the country. Spire is excited by the growth prospects of the combined company and looks forward to working closely with management.”
Dentons US LLP served as legal counsel to Spire Capital. Bridgepoint Investment Banking acted as exclusive financial advisor to DBI, while Koley Jessen served as legal counsel.
About ERI Solutions
Founded in 2007, ERI is a leading provider of risk control solutions that were specifically designed to control operational risks in higher-hazard businesses. Its service categories include safety, process safety management (PSM), industrial hygiene (IH), environmental compliance, asset integrity management and inspection, training, and insurance program management services. The team at ERI believes that all incidents (excluding acts of God) are preventable and is passionate about turning that belief into a reality in its clients’ businesses.
About DBI Group
Founded in 1992, DBI, is a leader in providing non-destructive testing, mechanical integrity inspections, pipeline integrity inspections, heat treat services, industry training and consulting services throughout the United States. DBI follows the basic principles on which the company was founded, providing non-destructive testing and inspection services that are cost-effective, while assuring reliability, responsiveness, and code and job specification compliance.
About Spire Capital
Spire Capital is an active and experienced private equity firm with an investment focus in small market companies within the technology-enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences that they leverage to assist portfolio companies in accelerating growth, guiding strategic direction and executing their business plan. Spire Capital is a New York based investment advisor registered with the Securities and Exchange Commission under the Investment Act of 1940. Market conditions can vary over time and past fund performance does not guarantee future fund results.
For more details, contact:
Bruce M. Hernandez
Spire Capital Partners
(610) 397-1704 direct
bhernandez@spirecapital.com
Spire Capital backed Dynamic Quest Completes Second Acquisition of 2020 to Continue Expansion in the Southeast Region
Greensboro, NC (July 20th, 2020) – Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses, completed the acquisition of Nexxtep Technology Services (“Nexxtep”), a Valdosta, Georgia-based managed services provider.
Dynamic Quest, led by CEO & Founder Javier Gomez, continued with its strategic vision to expand in the Southeastern United States with the acquisition of Nexxtep. This marks the fourth acquisition for Dynamic Quest since the formation of its partnership with Spire Capital in Q2 2018.
Javier Gomez, CEO of Dynamic Quest relayed, “We continue to grow organically and are strategically executing acquisitions to add greater breadth to our services portfolio and geographic reach to better serve our clients and partners. We are excited to welcome the Nexxtep team to Dynamic Quest. The founders at Nexxtep and their team have built a great company, serving critical IT services to their clients. We look forward to continuing the high-quality relationships that Nexxtep has had with their clients while also providing their clients with a broader set of services and solutions to meet their growing needs.”
Founded in 2002, Nexxtep offers managed IT, disaster recovery and hosting services to businesses and enterprises across a wide variety of verticals. Approximately 70% of Nexxtep’s revenue is recurring with a strong, loyal customer base. The Nexxtep team members will join Dynamic Quest and add to the expanding presence to serve Georgia and Florida markets.
Paul Nichols, President of Nexxtep commented “We are thrilled to partner with Javier and Dynamic Quest. They have a high integrity culture, exceptional service and partnership to their clients, and we are proud they will continue our history of client first service with expanded offerings for our customers.”
The transaction will enhance Dynamic Quest’s market share in Georgia and provide the ability to cross-sell some services to Nexxtep’s customer base that are not currently offered. Dynamic Quest will look to leverage its infrastructure including its data center, centralized remote delivery team and sales and marketing initiatives to enhance service solutions for end clients and accelerate growth.
Frontline Capital Partners acted as buyside advisor to introduce this opportunity to Spire and Dynamic Quest.
About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Dynamic Quest
Founded in 2000, Dynamic Quest is a managed service provider for IT services to enterprises and mid-sized businesses. Dynamic Quest offers a broad set of services including hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina. Dynamic Quest currently has satellite offices in Winston-Salem and Cary, North Carolina, Marietta, Georgia, Clark, Philippines and will be adding the Nexxtep location in Valdosta, Georgia. For more information, visit https://dynamicquest.com/ or follow Dynamic Quest on LinkedIn
About Nexxtep Technology Services
Founded in 2002 and based in Valdosta, Georgia, Nexxtep is a managed service provider for IT services to small to medium sized businesses. IT services include managed IT, security, UCaaS, disaster recovery, hosting and other critical application service. For more information, please visit www.nexxtep.com.