Private Equity Firm Acquires Salesforce Cloud MSP: One Equity Partners Buys VASS
Middle market private equity firm One Equity Partners (OEP)) has acquired VASS Consultoría de Sistemas S.L., a European managed IT services provider (MSP) and Salesforce partner with digital transformation and cloud infrastructure expertise. Financial terms of the deal were not disclosed.
This is M&A deal number 537 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
VASS, based in Madrid, Spain, specializes in customer relationship management (CRM) and enterprise resource planning (ERP) applications, and associated technology infrastructure services. VASS also has big data and robotic process automation (RPA) expertise.
VASS Growth Plan: More Acquisitions
One Equity Partners (OEP) plans to tuck additional acquisitions in VASS. A comparable OEP investment in the European IT services sector, the Italian digital solutions provider Lutech, grew from €180 million to €440 million of revenues in less than three years under OEP’s ownership, Sebastian Schatton, associate at One Equity Partners, notes.
Lutech’s growth included 15 add-on acquisitions. “We are convinced that Vass is the perfect platform to execute a similar growth story in Spain and Latin America,” Schatton asserts.
Adds Joerg Zirener, senior managing director at One Equity Partners:
“After having spent the past 18 months analyzing the Spanish IT Service market in detail, we are convinced that VASS is the perfect buy and build platform as it is a best-of-breed digital solution advisor to businesses that are seeking to stay competitive through digital transformation solutions that span across the entire value chain. This transaction is representative of OEP’s approach to partnering with founders of businesses who have demonstrated a strong track record of organic growth and investing in market-leading technology businesses.”
Concluded Francisco Javier Latasa, founder and CEO of VASS:
“We’re excited about partnering with OEP and look forward to providing next-generation IT consulting solutions across Europe to companies seeking to improve their business models, deliver innovative services and enhance their customers’ experience through digital transformation.”
Latasa remains an investor in the business.
One Equity Partners: IT Services Acquisitions and Investment List
One Equity Partners has extensive experience investing in the IT services market. Recent deals include:
- July 2020: Investing $200 million in Infobip, a global cloud communications firm from Croatia.
- June 2020: Merging portfolio companies Orion Innovation and Zodiac Systems.
- March 2020: Acquiring MCL Computer & Zubehör GmbH, a German IT consulting services provider and hardware reseller.
- January 2020: Investing in Computer Design & Integration LLC (CDI LLC), a major IT solutions provider with hybrid cloud and service management expertise.
- February 2018: Acquiring Rizing LLC, an SAP-focused provider of IT systems integration and implementation services.
Meanwhile, here’s an extended list of Salesforce partner mergers and acquisitions.