VSS Capital Partners invests in Centroid
NEW YORK–(BUSINESS WIRE) – VSS Capital Partners (“VSS”), a private investment company investing in the business services, healthcare, education and information sectors, and Centroid Systems Inc. (“Centroid” or the “Company”), a provider of managed cloud services and enterprise workload advisory services, today announced that VSS has made a significant growth investment in the Company. Financial terms of the private transaction were not disclosed.
Based in Troy, Michigan, Centroid is one of the few Certified Oracle Cloud Service Providers (CSPs) in all of North America, where it has won 14 North American Partner of the Year Oracle awards. Centroid provides Oracle enterprise workload management and consulting services to all major public cloud providers, including Azure, Amazon, Google, IBM and Oracle, as well as private cloud technology, and serves American companies in different sectors including technology, manufacturing, automotive, healthcare and medical devices, among others. Core offerings include managed cloud services, consulting services and technical solutions.
“Centroid addresses the high demand for digital transformation services from today’s fast growing businesses that require significant Oracle expertise to accelerate and implement their cloud solutions and digital transformation,” said Trent Hickman, Managing Director by VSS. “Many of these projects that require full cloud support services generate recurring revenue and involve multi-year contracts that help ensure that the cloud migration, integration, managed services and remote IT needs of the Oracle ecosystem are managed in an efficient and transparent manner. ”
The Oracle Enterprise Resource Planning (ERP) services market is a highly fragmented, high-growth, and complex market where companies increasingly seek specialized expertise to successfully implement digital transformation strategies of new generation as cloud computing continues to evolve.
“We couldn’t be more excited to partner with VSS at a time when a large number of companies are expected to migrate their ERP systems to the public cloud in North America over the next five to 10 years,” said Scott Morrell, CEO and Director. Centroid partner.
Eric Reed, Managing Partner of Centroid, added, “We believe this backlog creates a strong, secular tailwind to drive demand for in-depth industry knowledge, experience and a wide range of capabilities for years to come. ”
Jim Brull, Managing Partner of Centroid, said: “Together with VSS, we have already identified several strategic acquisition opportunities to further strengthen our managed services, digital transformation, analytics and the capabilities of our public cloud solutions. . ”
“This transaction demonstrates our ability to structure flexible capital solutions that allow companies owned by founders like Centroid to seize new growth opportunities, benefit from the additional operational, financial and IT resources that VSS brings to the table, and ” strongly align the management of investors and companies. interests, ”said Yash Kandoi, director of VSS.
Willkie Farr & Gallagher LLP provided legal advice to VSS in connection with the transaction. American Discovery Capital LLC acted as financial advisor and Morgan, Lewis & Bockius LLP provided legal advice to Centroid in connection with the transaction. CIBC Innovation Banking provided senior debt financing to facilitate the transaction.
VSS Capital Partners (“VSS”), a private equity firm, invests in the business services, health, education and information sectors. Based in New York City, VSS provides capital for growth financing, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and executive teams with the goal of building businesses organically as well as through the through targeted complementary acquisition programs. VSS makes privately traded investments throughout the capital structure and invests in situations requiring controlled and non-controlling stocks, mezzanine securities and structured equity securities. VSS has more than three decades of experience, has invested in 90 portfolio companies, with more than 370 complementary acquisitions, and has managed nearly $ 3.5 billion of global committed capital in 7 funds. For more information, please visit: www.vss.com.
Headquartered in Troy, Michigan, and fFounded in 1997 as an Oracle consulting services business, today Centroid is a provider of managed cloud services and enterprise workload consulting services on cloud platforms Oracle, Amazon, IBM, Microsoft and Google. WWith additional US locations in San Francisco, Los Angeles, Dallas, and New York, and a large office in Hyderabad, India, for 24/7 support, the company employs approximately 140 people.
Centroid has achieved many key milestones, including being an Oracle Premier Partner and recognition as Oracle’s North American Partner of the Year for Engineering Systems, Oracle Technology and Infrastructure as a Service for the past 5 years. For more information, please visit: https://www.centroid.com/.