Private equity firm Abry Partners has invested in Oracle software partner Inoapps. The result: Abry Partners and Inoapps CEO Andy Bird now have joint control of the IT consulting firm, and tuck-in acquisitions are planned.
Inoapps has roughly 328 employees listed on LinkedIn. The IT consulting company supports Oracle on-premises and cloud solutions. Key services include enterprise change management, hosting, training, managed support services and home-grown products.
Before the Abry Partners deal, Inoapps was previously backed by BGF -- which now exits the business.
Abry Partners Invests in Inoapps: Executive Perspectives
In a prepared statement about the deal, Nicolas Massard, partner at Abry Partners, said:
“Building on our successful track record in the specialized consulting and managed services sectors, we are excited to team up with Andy, a successful entrepreneur who has built a fast growing practice around the Oracle ecosystem.”
Added Andy Bird, CEO of Inoapps:
“Since our first meeting I recognised that Abry Partners would be a great partner for our future. Abry offers something different - a proven track record of helping technology-based businesses capitalise on both the North American and European markets. In addition, the operational support team with experts in various disciplines, made the culture a perfect fit for our next phase of growth as we head towards 1,000 employees by the end of 2022.”
Bird also noted:
“Behind these headlines, we have worked to ensure that our growth will be sustained. For example, throughout 2021, we more than doubled the value of our booked work and the amount of work won for the next financial year. Combined with a new board structure, new capital and our ongoing commitment to excellence, we are set to accelerate drastically our growth throughout North America, Europe and beyond. I would like to thank everyone involved in this transaction, as well as Kevin Lyon, Bobby Anderson, and Mike Sibson all who have left our board after great service.”
Richard Pugh, investor at BGF, noted:
“BGF has been a long-term supporter of Inoapps’ aggressive expansion, driven by a combination of ambitious management, excellent delivery and by always being at the leading edge of the Oracle suite. After nine positive years of collaboration, this new investment marked an appropriate moment for BGF to exit and we are sure Inoapps will continue to be successful.”
Abry Partners: Previous MSP and IT Consulting Investments
Abry Partners, meanwhile, has extensive investment experience in the MSP, IT services and IT consulting markets.Example Abry Partners moves include:
- May 2021: Placed a minority investment in SDI Presence LLC (SDI), an IT consultancy and MSP.
- February 2021: Acquired CloudWave, a cloud-centric MSP in the healthcare sector.
- January 2021: Options Technology, backed by Abry Partners, acquired managed trading service provider Fixnetix from DXC Technology.
- September 2020: NexusTek, backed by Abry Partners, acquired Symmetrix Solutions.
- November 2020: Searchlight Capital Partners and Abry Partners launched a new standalone UCaaS company called Clearspan.
- January 2020: Acquired Options Technology, a cloud-centric MSP in the financial services market.