Navisite, a portfolio company of Madison Dearborn Partners, has acquired Velocity Technology Solutions Inc., a global cloud managed service provider (MSP). Navisite aims to enhance its position as a leader of enterprise resource planning (ERP) services for mid-market and enterprise customers.
“Organizations need a technology partner that not only offers modern cloud services and expertise to support their digital transformation goals, but also is capable of delivering right-sized solutions,” says Mark Clayman, CEO of Navisite. “Every step we’ve taken as a company, including this acquisition, has been focused on being that trusted partner and building a customer-centric portfolio of solutions.”
Navisite recently acquired Dickinson and Associates, a premier SAP gold partner.
Stifel, Nicolaus & Co. served as Velocity’s financial advisor, and Weil, Gotshal & Manges LLP provided legal counsel to Velocity. Jefferies LLC and TD Securities LLC served as Navisite’s financial advisors, and Kirkland & Ellis LLP provided legal counsel to Navisite.