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Renovus Capital Partners Announces Sale of Portfolio Company InflowCX
Tuesday, October 31, 2023
Renovus worked closely with company's management team to establish InflowCX as an industry-leading contact center and customer experience consulting firm
WAYNE, Pa., Oct. 23, 2023 /PRNewswire/ -- Renovus Capital Partners ("Renovus"), a premier lower middle-market private equity firm specializing in the knowledge and talent industries, today announced the sale of its portfolio company Inflow Communications LLC ("InflowCX") to an affiliate of Gemspring Capital Management, LLC who intends to combine it with their portfolio company, Amplix, a provider of technology advisory services and software. Financial terms of the transaction were not disclosed.
Renovus acquired InflowCX in 2020 and shortly thereafter combined the company with PeakView, creating a leading provider of strategic advisory, deployment, and managed services for contact center, customer experience, and unified communications solutions. The transactions were the culmination of a Renovus investment thesis centering on the channel partner business model, specifically seeking opportunities centered on software ecosystems that are earlier in their growth curves and find tremendous value in premium channel and technology partners that can drive both sales and implementation cycles.
"Our firm is proud of the InflowCX management team, which transformed the company into a leading partner in the contact center and customer experience end markets," said Founding Partner, Jesse Serventi. "During our ownership period, InflowCX completed the PeakView acquisition as well as three additional acquisitions, grew revenue and EBITDA substantially, and built a reputation of excellence in the market. The business is exceptionally well positioned for continued growth under Gemspring's ownership, and we wish the entire InflowCX team continued success in the future."
"We are grateful for Renovus' support throughout our partnership," said InflowCX CEO Ken Smith. "We have worked hard to further our reputation as the leader in customer experience and contact center solutions and have continued to earn the trust of large and mid-size firms to optimize their CX strategy through enhanced technology solutions. The decisions we made in partnership with Renovus will continue to be felt in our next chapter, as we build on our vast CX experience to provide our clients with new and unique solutions to improve their businesses."
Lazard served as advisor to InflowCX.
About InflowCX
InflowCX is an innovative provider of strategic advisory, consulting, and managed services for contact centers, customer experience, and unified communications solutions to over 1,000 customers nationwide. InflowCX has grown to be a trusted advisor in its market through the high caliber of its work, problem-solving approach, and focus on client satisfaction. For more information, visit https://inflowcx.com.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $1 billion across its three sector focused funds and other strategies. The firm's current portfolio includes over 25 U.S. based businesses specializing in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, recruit top talent, pursue add-on acquisitions and oversee strategic growth initiatives. Visit us at www.renovuscapital.com and follow us on LinkedIn.
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SOURCE Renovus Capital Partners
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