Industry Related TransactionsModernist Studio Acquired by Gorilla Logic, a Sverica Capital Management Portfolio Company
Sellside Advisor to Modernist Studio
7 Mile Advisors Announces Acquisition of Modernist Studio by Gorilla Logic, a Sverica Capital Management Portfolio Company
This partnership enables Gorilla Logic to support clients from the inception of an idea all the way through to the final stages of execution.
CHARLOTTE, NC — Modernist Studio, a high-quality design and ideation boutique in Austin, Texas, that helps clients envision and design valuable products and services, has been acquired by Gorilla Logic, a world-class software development services provider backed by the private equity firm Sverica Capital Management. 7 Mile Advisors acted as the exclusive sellside advisor to Modernist Studio throughout the transaction.
“Combining Modernist Studio’s creative, design, and product innovation expertise with Gorilla Logic’s exceptional nearshore product development capabilities will create a rare asset in the market that is delivering high-end products from front-end design through execution. We look forward to seeing continued success and differentiation in the market from this group,” said John Cooper, Managing Director at 7 Mile Advisors.
“The team at 7 Mile Advisors supported us throughout the entire process, providing guidance and mentorship, as well as finding us a fantastic partner,” said Jon Kolko, Chief Operating Officer at Modernist.
“Historically, clients come to us with their vision and we provide the know-how to build it. Modernist Studio joining Gorilla Logic gives us the ability to offer a much more complete set of product and software services—Ideate, Innovate, Design, Build, and Deliver. This span of services truly differentiates us in a growing market,” says Gorilla Logic CEO, Daniel Berg.
Founded in 2002, Gorilla Logic is the first premier nearshore provider of custom software development services for mobile, web, and enterprise applications. The Gorillas, as they like to call themselves, deliver innovative, strategically sound solutions to solve clients’ most complex challenges. With 700+ employees throughout Colombia, Costa Rica, and the United States, Gorilla Logic will partner with the team at Modernist Studio to offer a more holistic experience to their clients.
This acquisition ensures that the designs created by Modernist Studio can be fully realized by skilled developers, and positions Gorilla Logic for continued growth and expansion. According to Berg, “Adding ideation and innovation to our build and deliver offerings will enable us to support more companies in their digital innovation. We’ll have increased opportunities to get in on the ground floor of projects and design with development in mind. This synergy will create a more seamless client experience.”
Gorilla Logic builds products for a variety of industries, including Media and Entertainment, Retail and E-commerce, Healthcare, Travel and Leisure, Technology, Financial and Legal Services, and Infotech and Industrial Goods. Their track record of delivering successful outcomes for clients will only be bolstered by the expanded capabilities of this partnership.
“By combining Modernist’s strategic thinking and craft with the speed and capability of a world-class development team, our ability to help our clients realize change will be stronger than ever,” Matthew Franks, CEO of Modernist Studio, says. Franks will join the Gorilla Logic Executive Team and continue running Modernist Studio with his co-founders, Jon Kolko and Chad Fisher.
This acquisition is one of 18 transactions completed by the 7 Mile Advisors team already this year. As the demand for digital innovation continues to increase for companies across the globe, M&A activity will remain robust as investors and strategic acquirers make key acquisitions to strengthen their service offerings. For more information on M&A trends in the IT Services market, visit 7mileadvisors.com.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Gorilla Logic
Gorilla Logic provides nearshore Agile teams to Fortune 500 and SMB companies, bringing unparalleled expertise in the delivery of full-stack web, mobile, and enterprise applications. Their highly collaborative Agile Gorillas are uniquely qualified to implement complex software initiatives and are skilled at large Agile implementations as well—they are a Scaled Agile® Silver Partner. With offices in the United States, Costa Rica, and Colombia, Gorilla Logic helps clients gain competitive advantages to achieve results faster.
