Renovus Capital Companions buys IT consultancy LeapPoint
Private equity firm Renovus Capital Partners has acquired LeapPoint, a Reston, VA-based provider of technology consulting for work management.
Founded in 2006, LeapPoint helps financial services, healthcare, and retail customers use work management technology to manage projects more effectively, promote better collaboration and coordination, and improve overall team performance and business results.
The approximately 50 experts at LeapPoint have particular expertise in advising customers on Adobe and Workfront solutions. The consulting firm’s other technology partners include Microsoft, Workato and Allocadia.
Work management software has grown in importance as the rise of remote work has increased the importance of digital collaboration and teamwork. Renvous’s acquisition of LeapPoint aims to scale the company to further benefit from expected growth in demand in the region.
“During and after Covid, the importance of connected digital solutions to improve the customer and employee experience is greater than ever,” said Jesse Serventi, founding partner of Renovus. “LeapPoint’s innovative approach to connected digital experiences is transforming the world’s largest companies. As part of our partnership, we plan to help LeapPoint scale even faster to a larger group of enterprise customers.”
The LeapPoint leadership team will remain unchanged upon completion of the acquisition, for which the financial terms have not been disclosed. Renovus’ accounting advisor on the transaction was Cherry Bekaert and her legal advisor was DLA Piper. Kipps DeSanto & Co. advised LeapPoint on the sale.
“Renovus shares our mindset that people come first and we are excited to be working with them to rocket fuel our end-to-end Connected Work services for Adobe, Adobe Workfront and other technology implementations,” said Nicholas DeBenedetto, CEO of LeapPoint.
Wayne, PA-based Renovus invests in education, healthcare, business, and technology services companies with EBITDA of less than $ 10 million. The company manages approximately $ 1 billion in investments and has a portfolio of more than 20 US companies.
At the beginning of the year, the company sold its majority stake in the management consultancy KSM Consulting, which it had acquired in 2019.
Also this year, Renovus made a “substantial” growth capital investment in Thought Logic Consulting, an Atlanta-based provider of management and technology consulting services.