Renovus Capital Partners Announces Majority Investment in Performive

News provided by

Nov 04, 2024, 07:30 ET

WAYNE, Pa., Nov. 4, 2024 /PRNewswire/ -- Renovus Capital Partners, a private equity firm based in the Philadelphia area, is excited to announce its majority investment in Performive, a leading provider of managed IT services for mid-market enterprises. The investment will enable Performive to accelerate its growth across product innovation, customer experience enhancement, partner enablement, and other strategic initiatives.

Founded in 2005, Performive is a managed services provider focused on cloud services, infrastructure services, and cybersecurity. The Company prides itself on offering mission critical services to its thousands of customers, helping them scale, secure their environments, and optimize their operations, and is well-recognized in the industry for its technical expertise and exceptional service.

The strategic investment from Renovus will enable Performive to continue to build out its solution offerings, grow its best-in-class team, and pursue acquisitions that align with its commitment to delivering high value, customer-focused services.

"We're incredibly proud of the foundation we've built at Performive and excited for what's ahead," said Gary Simat, Co-Founder and CEO of Performive. "This partnership with Renovus is a pivotal moment that will fuel our continued innovation and allow us to enhance the customer experience and drive greater value for our clients. With this investment, we're ready to accelerate our goal of becoming a leading MSP serving mid-market enterprises across the U.S."

"We built a thesis on investing in differentiated MSPs with highly recurring revenue, critical service offerings, and a relentless focus on customers, and Performive fits this profile perfectly," said Jason Tanker, Managing Director at Renovus. "We see tremendous growth potential in Performive's platform and are excited to partner with the team to accelerate the company's expansion, both organically and inorganically."

Performive is Renovus' first platform out of Renovus IV, which launched in October 2024 with $875 million of total commitments.

Layer 7 Capital served as exclusive financial advisor and McDermott Will & Emery served as legal counsel for Performive. DLA Piper served as legal counsel for Renovus.

About Performive
Founded in 2005, Performive is a leading managed IT services provider, specializing in managed IT infrastructure, cloud solutions, and cybersecurity for mid-market enterprises. With deep technical expertise and a relentless focus on customer success, Performive empowers businesses to optimize their IT operations and achieve sustainable growth.

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 $2 billion of assets across its several sector focused funds. The firm's current portfolio includes over 30 U.S. based businesses specializing in education and workforce development and services companies in the technology, healthcare, and professional services markets. Renovus typically makes control buyout investments in founder owned businesses, leveraging its industry expertise and operator network to make operational improvements, recruit top talent and pursue add-on acquisitions. Visit us at www.renovuscapital.com and follow us on LinkedIn.

SOURCE Renovus Capital Partners LLC