Industry Related TransactionsProfitOptics Acquired By Renovus Capital
Sellside advisor to ProfitOptics
Virginia-based Technology Services Firm, ProfitOptics, Acquired By Renovus Capital
7 Mile Advisors acts as exclusive sellside advisor.
CHARLOTTE, NC – ProfitOptics (“the Company”), a Richmond, VA-based digital transformation company that leverages its proprietary software platform and custom product development capabilities to automate clients’ manual workflows and optimize client profit, has been acquired by Renovus Capital (“Renovus”), a Philadelphia-based investment firm. 7 Mile Advisors acted as the exclusive sellside advisor throughout the transaction.
“ProfitOptics is a truly unique asset, converting customer sales data into prescriptive insights through bespoke software solutions to drive material ROI within its customers. It was a pleasure working with the ProfitOptics team and Renovus on this transaction and we look forward to seeing their continued success together,” commented Nick Prendergast, Vice President at 7 Mile Advisors.
ProfitOptic’s client solutions are designed, developed, and managed by an in-house team of business analysts, software engineers, and data scientists and architects. As a result of the partnership with Renovus, ProfitOptics intends to accelerate its growth by developing new and enhanced technology competencies, expanding its regional footprint, and deepening customer focus in key target industries.
“It was an easy choice to partner with Renovus. Their success record of scaling founder-owned businesses combined with their expertise in the technology services space aligned well with our transaction objectives,” said Tony Pericle, Founder and CEO of ProfitOptics. “With Renovus’ network, experience, value creation resources, and financial support, we are well positioned to execute on our growth initiatives including recruitment of top developers, strengthening our business development team, and increased adoption of our proprietary software product.”
“As a fast-growing enterprise operating at the intersection of two of our key verticals, Technology Services and Healthcare, ProfitOptics has all of the ingredients of becoming yet another successful platform for Renovus,” said Atif Gilani, Founding Partner at Renovus. “We look forward to supporting ProfitOptics on both organic and inorganic opportunities.”
This transaction marks 7 Mile’s second portfolio sale to Renovus in the past year, and the firm’s 11th IT Services transaction in 2022. For more information on recent IT Services transactions that 7 Mile has facilitated, or to learn more about relevant M&A benchmarking, visit www.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, and 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 ProfitOptics
Founded in 2008, ProfitOptics is a technology services company that uses its proprietary software to deliver customized solutions to its global clients. The Company’s offerings include data and analytics, profit optimization, and enterprise application development and are supported by its on-shore and off-shore team, known for delivering cutting-edge technology development. Since inception, the data-driven solutions architected by the ProfitOptics team have generated over $1.1 billion in profits for its clients.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is an investment firm specializing in the Knowledge and Talent industries. Renovus, based in the Philadelphia area, manages over $1 billion across several investment vehicles. The firm’s current portfolio includes over 20 U.S. based businesses across its four Knowledge and Talent verticals of Education & Training, Healthcare Services, Technology Services and Professional Services. Renovus typically partners with founder-led businesses, leveraging its industry expertise and access to debt and equity capital to make operational improvements, pursue add-on acquisitions and oversee strategic growth initiatives. More information can be found at www.renovuscapital.com.
