BV Investment Partners, a middle market private equity firm focused on technology, software and IT services industries, has made a significant, growth investment in Marlabs Inc., a digital services company.
Marlabs is an end-to-end IT services provider enabling its clients to build and manage IT applications and infrastructure. The firm delivers its services to healthcare, life sciences and financial services industries. The firm has over 900 U.S. employees and 1,500 in India.
“As enterprises accelerate investment in research and next generation product development, demand for digital transformation services is growing rapidly,” said Siby Vadakekkara, chairman and CEO of Marlabs. “BV’s strong track record of relevant and specific success in the IT services industry with businesses like ours will be helpful as we expand our services to help deploy solutions that help our customers with their unique and complex needs.”
“Marlabs’ distributed workforce across the U.S. and India enables enterprise clients to extend and optimize their development efforts across high-demand skillsets,” added Sam Axelrod, Principal of BV Investment Partners. “We look forward to working with Siby and his team to continue to strengthen and grow the business, through both organic initiatives and selective strategic M&A.”
EY served as financial advisor to Marlabs and Masuda, Funai, Eifert & Mitchell, Ltd. served as legal counsel to Marlabs. Choate, Hall & Stewart LLP served as legal counsel to BV in the transaction.