[December 12, 2012] |
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Bunker Hill Capital Makes Significant Investment in Vesta Partners, LLC: Combination of /N SPRO and Vesta Creates a Leading "Emerging Technology-Centric" SAP Services Firm
BOSTON --(Business Wire)--
Bunker Hill Capital, a Boston-based private equity firm, announced today
that it has made a significant investment in Vesta Partners, LLC
("Vesta" or the "Company"), the leader in SAP (News - Alert) Enterprise Asset
Management ("EAM") consulting and implementation services and
technologies. The transaction represents the third investment under a
consolidation strategy focused on building the leading "emerging
technology-centric" SAP services firm. Vesta provides functional and
technical consulting services to Fortune 500 companies utilizing SAP in
the utilities, mining, rail, oil and gas and manufacturing industries.
The investment was made through Bunker Hill Capital's portfolio company,
IT Holdings, and will enhance and accelerate the rapid growth of Vesta's
services. The Company's founders will remain significant shareholders
and the management team will continue in their current roles.
Bunker Hill Capital closed on its initial investment, /N SPRO, in August
2009. /N SPRO provides high value, specialized consulting services in
SAP's emerging solutions areas including: SuccessFactors, SAP mobile
solutions, SAP Human Capital Management ("HCM"), SAP Customer
Relationship Management ("CRM") and SAP solutions for Environmental
Health & Safety ("EH&S"). In October 2011, /N SPRO acquired DeyFischer,
a provider of platinum-level SAP functional and technical consulting
services to Fortune 500 companies in the retail, consumer products and
agricultural industries. Under the leadership of Steve Hatcher, /N SPRO
has developed the leading SAP for Retail services team in North America.
In June 2012, /N SPRO acquired Javelin ERP, a Toronto-based organization
specializing in SAP HCM and Payroll Solutions to further penetrate the
Canadian market place. Luc Hédou, Co-Founder of /N SPRO, stated that
"the investment in Vesta is a continuation of our strategy of building a
company with expertise in emerging SAP technologies. Our deep knowledge
in SuccessFactors, mobility, SAP for Retail, HCM, CRM, EH&S and elite
services combined with Vesta's market leading position in EAM and HANA
creates a very valuable platform for all of our customers."
Headquartered in Stamford, CT, Vesta has built the industry leading SAP
EAM consulting practice while servicing global enterprise
implementations. When combined with /N SPRO, the consolidated company
will have a global presence with offices in the U.S., Canada, Europe and
Australia and expects to open an office in Singapore in 2013. Vesta's
founders and senior management team will continue to oversee the
Company's operations and corporate development nitiatives. Mike Maiolo,
CEO of Vesta, stated, "We decided to partner with Bunker Hill Capital to
accelerate our growth while better serving our clients through expanded
solution offerings. /N SPRO is a leader in SuccessFactors, mobility, SAP
HCM and CRM consulting in North America, and we look forward to
introducing these capabilities to our clients." Carl Graves, Vesta CFO,
added, "The potential synergies between the two companies, including
multiple service offerings, geographic expansion and specific industry
expertise, are exciting, and we look forward to working with the /N SPRO
team to take full advantage of these opportunities."
Since closing the original investment in August 2009, Bunker Hill
Capital has continually modified its consolidation strategy to remain
ahead of market trends. According to Rufus Clark, a Managing Partner at
Bunker Hill Capital, "We continue to believe there is a great
opportunity to partner and consolidate companies in the SAP ecosystem,
and all of us are eager to further the platform's success in the global
market." Max McEwen, a Vice President at Bunker Hill Capital, commented,
"The IT market's rapid evolution combined with the enterprise shift
towards hybrid environments comprised of on-premise, mobile and cloud
solutions, is producing increased demand for focused niche services. A
mid-sized emerging technology-centric platform, such as IT Holdings, is
delivering solution sets and ROIs unmatchable by large system
integrators."
About Vesta
Founded in 2005, Vesta operates a functional and technical consulting
practice focused on EAM solution architecture and configuration for
customers in asset intensive industries. The functional consulting
practice is focused on architecting and integrating SAP EAM modules,
which help customers track, manage and report on capital asset usage,
with expertise in utilities, mining, rail and oil & gas. In addition to
its consulting services, the Company offers proprietary software
solutions addressing niche EAM demands. As a leader in the EAM space and
an SAP Select Consulting Partner, the Company is regularly hired by
Fortune 500 customers to design and implement master IT roadmaps
specifying enterprise application architecture and configuration. For
more information, please visit www.vestapartners.com.
About /N SPRO
Founded in 2003, /N SPRO provides a high-value offering for the
increasing market need of specialized consulting services in SAP's
emerging solutions area. As SAP AG continues to expand its solution
portfolio, /N SPRO stays focused on being the "first on the first wave"
of new SAP product innovation and gaining deep knowledge about new
products ahead of mainstream market adoption. /N SPRO offers an elite
team that is first to market and delivers high-quality consulting. They
are driven to help customers achieve success with SAP software such as
SuccessFactors, SAP for Retail, SAP mobile solutions, SAP HCM, SAP CRM,
and SAP solutions for EH&S. As an end-to-end consulting services
provider, /N SPRO offers business consulting that provides trusted
guidance for maximum business impact, implementation services to help
customers become a best-run business, and service desk assistance for
continued business success. For more information, please visit www.n-spro.com.
About Bunker Hill Capital, L.P.
Bunker Hill Capital is a private equity firm that makes investments in
lower middle market companies with enterprise values up to $150 million.
The principals of Bunker Hill Capital have invested over $425 million in
30 transactions and target opportunities across four industry sectors
including industrial products, business services, consumer products and
specialty retail. Bunker Hill Capital's current portfolio company
investments include California Family Fitness, the leading owner and
operator of fitness centers in the greater Sacramento, CA (News - Alert) area; Papa
Gino's/D'Angelo, a dominant quick service restaurant operator in New
England; Smith & Wollensky, a premier steakhouse concept in the United
States; SunBriteTV, the world's leading designer, manufacturer and
supplier of all-weather outdoor televisions and related accessories; and
IT Holdings, a leading SAP services firm. For more information on Bunker
Hill Capital, please visit www.bunkerhillcapital.com.

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