BOSTON and BOULDER, Colo., April 1, 2015 /PRNewswire/ -- Denovo, a
leading provider of ERP cloud hosting, consulting and managed
services, today announced that M/C Partners, a private equity firm
based in Boston, has invested in
and acquired a majority interest in Denovo. The financing will
enable Denovo to make acquisitions and invest in the development of
its cloud and managed services offerings while providing liquidity
for its founders. The terms of the transaction were not
disclosed.
"We envision Denovo playing a leading role in consolidating ERP
consulting, managed services and hosting providers serving small to
medium enterprises," said Gillis
Cashman, a managing partner at M/C Partners. "Denovo
has built a strong brand in the JD Edwards community and we are
excited to partner with Denovo's founding management team."
In conjunction with M/C's investment, Marty Snella is joining Denovo as Chief
Executive Officer. Snella has played integral roles in several very
successful M/C Partners investments over the past 11 years,
including ICG Communications and Zayo Group. "I am very excited to
join the Denovo leadership team. Denovo has done a phenomenal job
growing its business and developing customer loyalty. This is a
tremendous opportunity to build upon their success and continue to
grow the business both organically and inorganically," said
Snella.
"We couldn't be more excited to join forces with M/C Partners.
M/C's expertise in the technology sector and their ability to
identify and stay ahead of market disruptions was key for Denovo,"
said Mark Goedde, President and COO,
Denovo. "We are equally thrilled to have Marty Snella join Denovo as CEO, Marty's
extensive industry knowledge, expertise and valuable insight to
market trends will allow Denovo to accelerate our strategies and
uniquely positioned us to deliver enterprise applications via
multiple cloud solutions, coupled with impeccable customer
service."
Media Venture Partners (MVP) served as the exclusive financial
advisor to Denovo in this transaction. MVP is an
investment banking firm serving companies in the technology,
communications, media and renewable energy sectors with a
comprehensive array of services, including merger and
acquisition advisory, debt and equity financing, and
restructuring advisory.
About Denovo
Established in 2003, Denovo Ventures, LLC is a full-service
Enterprise Hosting/Cloud Computing and Professional Services firm
with extensive expertise in designing, implementing and supporting
enterprise software and hosting/cloud solutions. Denovo
delivers enterprise hosting/cloud computing and extensive
managed services from their SOC 2 certified data centers located in
the United States. As an Oracle Platinum Partner,
Denovo's Professional Services team has over 150 years of
Oracle J.D. Edwards and ERP experience and has successfully
completed Oracle ERP implementation projects for a wide
variety of commercial and public sector clients. The company
is headquartered in Niwot,
Colorado in the Denver-Boulder technology corridor and serves a
worldwide client base from its East, Central, and West regional
offices. Visit www.denovo-us.com for additional
information.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the
communications, media, and information technology industries. The
firm has invested over $1.5 billion
into nearly 100 companies in those sectors. Companies M/C has
backed include Cavalier Telephone, Fusepoint, GTS Central Europe,
ICG Communications, Involta, Legendary Pictures, Lightower,
MetroPCS, NuVox, Open Mobile, and Zayo Group. The firm has strong
institutional backing from the nation's leading pension funds and
endowments as well as a long track record of success. M/C Partners
has offices in Boston and
San Francisco. For more
information, visit www.mcpartners.com.
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SOURCE M/C Partners