VSS Capital Partners, a private investment firm investing in the business services, healthcare, education and information industries, completed a growth investment in Centroid Systems Inc., a provider of managed cloud-services and enterprise workload consulting services.
“Centroid is meeting the strong demand for digital transformation services from today’s fast-growing businesses that require significant Oracle expertise to accelerate and implement their cloud-based solutions and digital transformation,” said Trent Hickman, managing director of VSS. “Many of these projects that require comprehensive cloud support services generate recurring revenue and involve multi-year contracts that help ensure the migration to cloud, integration, managed services and remote computing needs of the Oracle ecosystem are managed effectively and seamlessly.”
“We could not be more thrilled to partner with VSS at a time when a large number of businesses are expected to migrate their ERP systems to the public cloud in North America over the next five to 10 years,” said Scott Morrell, CEO and managing partner of Centroid.
Eric Reed, managing partner of Centroid added, “We believe this backlog creates a strong secular tailwind to drive demand for deep industry knowledge, experience and broad range of capabilities for years to come.”
“This transaction demonstrates our ability to structure flexible capital solutions that enable founder-owned companies like Centroid to pursue new growth opportunities, benefit from the additional operational, financial and IT industry resources that VSS brings to the table, plus strongly align investor and company management interests,” said Yash Kandoi, Principal at VSS.
Willkie Farr & Gallagher LLP provided legal advice to VSS in the transaction. American Discovery Capital LLC acted as financial advisor and Morgan, Lewis & Bockius LLP provided legal advice to Centroid in connection with the transaction. CIBC Innovation Banking provided senior debt financing to facilitate the transaction.