BOSTON, July 14, 2021 – BV Investment Partners (“BV”), a middle-market private equity firm focused on the tech-enabled business services, software and IT services sectors, announced today the sale of Apps Associates, an enterprise application services provider, to Quad-C Management Inc. (“Quad-C”).
Founded in 2002 and headquartered in Acton, MA, Apps Associates is an enterprise applications services provider focused on helping organizations strategize, execute and integrate digital transformation initiatives across the enterprise. The Company has long-standing partnerships with several leading technology companies, such as Oracle, Amazon Web Services (AWS), Salesforce and Snowflake. By leveraging its global delivery platform with over 950 employees spanning the U.S., Germany and India, Apps Associates delivers on its commitment to provide technical expertise around business-critical applications.
Matt Kinsey, Senior Managing Director of BV Investment Partners, said, “Our investment in Apps Associates was an opportunity to support a founder-owned business in one of BV’s core sectors in order to help scale the business and position it for sustainable long-term growth. Since 2017, we have added more depth to the senior management team, completed several strategic acquisitions, strengthened and expanded capabilities and scope of technology partnerships, and broadened the base of customers. This was a very productive effort that resulted in a great outcome for all stakeholders.”
Adrian King, Chief Executive Officer of Apps Associates, said, “BV was an instrumental partner, in helping to strategize and execute on a successful growth-oriented strategy and ultimately establish Apps for what it is today, a solidified leader in enterprise application services. The growth we’ve achieved and the market positioning and opportunity ahead, were recognized by Quad-C. All of us at Apps Associates are proud of what we’ve accomplished with BV and the foundation we’ve built together; and we’re excited to embark on this next chapter of growth with Quad-C.”
Sridhar Bogelli, Founder and Chairman of Apps Associates, added, “We want to thank BV for backing Apps Associates’ vision and thank our associates and customers for the continued growth of our business. We are delighted that Apps is continuing this exciting journey with Quad-C and wish Apps ongoing success.”
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $4.0 billion, actively targeting investments in the tech-enabled business services, software and IT services industries. For more information, please visit www.bvlp.com.