Century Park Capital Partners ("Century Park") is pleased to announce that International Business Machines Corporation ("IBM") (NYSE:IBM) has entered into a definitive agreement to acquire its portfolio company, Accelalpha, Inc. ("Accelalpha"). The transaction is expected to close in Q4 2024, subject to customary closing conditions and regulatory approvals. Financial details of the transaction were not disclosed.
Accelalpha is a leading global provider of Oracle Fusion Cloud Applications consulting, implementation and managed services. Its highly skilled team serves clients across North America, Europe, Asia, the Middle East and South America, with a focus on distribution, industrial and financial services sectors. Accelalpha was founded in 2009 by its current CEO, Nat Ganesh. Century Park invested in Accelalpha alongside Nat Ganesh and a meaningful group of employee equityholders in 2020.
In partnership with Century Park, the Accelalpha team transformed the business over the last four and a half years. The Company invested more heavily in sales & marketing, implemented a robust ERP system, started a managed services practice, and created nearshore and offshore delivery centers. In addition, the Company completed four add-on acquisitions, expanding Accelalpha's Oracle service capabilities to become one of the preeminent Oracle software application consulting firms across the globe. Through this combination of organic growth and acquisitions, Accelalpha's revenue more than quadrupled under Century Park's ownership.
Tony Trevino, Partner with Century Park, commented, "We're incredibly proud of what the Accelalpha team has accomplished during our partnership and feel privileged to have been part of this journey. The future is bright for Accelalpha, particularly as they join forces with an organization with the depth of capabilities and reputation of IBM."
Marty Sarafa, Managing Partner with Century Park, added, "For 25 years we've partnered with founders like Nat Ganesh and pride ourselves on helping them build best-in-class and enduring businesses. Accelalpha is a perfect case study. The transformation that took place during our partnership took incredible drive and determination, and we are grateful for the tireless effort the entire Accelalpha organization put into making this a successful outcome."
"I greatly appreciate the partnership we have built with Century Park over the last four and half years. Century Park promised to be collaborative, supportive, and to put the culture and employees at the forefront of our strategy. They delivered on that promise," said Nat Ganesh, CEO and Founder of Accelalpha. "We are excited to be joining IBM, with its long-established scale and reach in more than 175 countries. We can't imagine a better fit for the next stage of our growth and we're thrilled to bring our expertise and domain knowledge to bear together with IBM's strength in AI and hybrid cloud to benefit our joint clients."
Guggenheim Securities, LLC served as lead financial advisor, Robert W. Baird & Co. served as co-financial advisor, and Winston & Strawn LLP served as legal advisor to Century Park and Accelalpha in this transaction.
About Century Park Capital Partners:
Century Park Capital Partners is a Los Angeles-based private equity group established in 2000 that invests in family businesses, owner-operated firms and corporate divestitures with the purpose of accelerating growth and transforming these companies into leading industry players. We specialize in acquiring strategically well-positioned yet under-resourced middle market companies with identifiable potential for value creation. We leverage our C-level executive partners ("Century Leaders") in targeted sectors to build an investment thesis, evaluate opportunities, and lead portfolio companies through the value creation process. We further support our investments with proven operational and best practice initiatives, led by our operating team, including buy-and-build acquisition integration programs and infrastructure additions. For more information on Century Park, please visit www.centuryparkcapital.com.
About Accelalpha:
Accelalpha is a leader in solving critical business challenges through a unique combination of industry insight, technology depth, and a world-class team with an unmatched level of experience and domain expertise. Accelalpha leverages its expertise in end-to-end enterprise solution implementations to help companies build integrated logistic capabilities, optimize sales processes, modernize the supply chain, and realize benefits of the cloud. Our rigorous, result-oriented approach to developing solutions allows us to deliver tangible results in a shorter time frame. Accelalpha is recognized by Fortune as a best small and medium workplace and certified as a great place to work. For more information on Accelalpha, please visit www.accelalpha.com.
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