Author: gradycampbell

Charlottetown, PE, Canada – October 20, 2022 – Sverica Capital Management LP (“Sverica”) announced today the sale of its portfolio company iWave (or the “Company”) to private equity firm Incline Equity Partners (or “Incline”). This marks the culmination of a five-year successful partnership with iWave, during which the Company tripled in size, increased profitability and solidified its market leadership in the fundraising intelligence industry.

Founded in 1991 and headquartered in Charlottetown, PE, Canada, iWave provides education, healthcare, and nonprofit organizations with an intuitive platform that aggregates wealth, philanthropic and biographic data and turns it into actionable intelligence that fundraising teams need to identify, cultivate, and retain donors. In addition to offering customers the world’s largest and most up-to-date charitable giving database, the Company’s comprehensive platform offers proprietary analytics and actionable insights to help clients improve their fundraising efforts.

iWave has experienced significant growth since Sverica’s initial investment in June 2017. Under Sverica’s ownership, iWave launched multiple differentiated features to broaden its user base, accelerated investments in integrations, and expanded its team with talented executives. As a result of these efforts, iWave has received numerous accolades including G2’s top-rated fundraising intelligence solution for ten consecutive quarters, a Platinum and two Gold Titan Awards for Customer Service Strategy, a 3-time Stevie winner for Customer Service, Top 50 Best Workplaces in Canada by Great Place to Work, and others.

Jordan Richards, Managing Partner at Sverica, said, “It has been gratifying helping build and grow a company that has enabled us to do well by doing good for so many charitable organizations that make up iWave’s client base.  I want to thank Ross Beattie, Colin Paddington and the entire iWave team who tirelessly pursued their mission to be the thought and innovation leader in the fundraising intelligence space. I am proud of what they have been able to accomplish, thankful to have been able to join them to help scale the company and wish them much success on their next chapter with Incline.”

Ross Beattie, CEO of iWave, said, “Over the past five years iWave has been transformed and engineered into a world class fundraising intelligence organization that, on a daily basis, has the privilege of serving and supporting its clients as they fulfill their respective missions to make the world a better place. This rapid evolution of iWave would not have been possible without the guidance, support and collaboration with Sverica. They have played a very strategic role in our transformation and growth and I would like to thank Jordan Richards, Ryan Harstad, and the rest of the Sverica team for their consistent engagement, steady hand, and unwavering support of the iWave leadership team and all iWave’s staff. The past five years have been an incredible journey and now the voyage continues with Incline!”

“What an honor it has been to partner with iWave – a company that thousands of purpose-driven organizations rely upon to fuel their missions, a business that grew substantially stronger during our partnership together, and a group of wonderful people. Ross, Colin, and the iWave team have built something really special, and it has been a pleasure working with them as iWave expanded its leadership in fundraising intelligence. I’m excited that iWave will empower many more of the world’s great organizations with Incline as its new partner,” said Ryan Harstad, Partner at Sverica.

About iWave
iWave, the industry’s top-rated fundraising intelligence solution, enables nonprofit organizations to fundraise with confidence. In a new era of nonprofit fundraising, iWave solves critical challenges facing fundraising professionals today: how to identify, qualify, and retain donors to raise more gifts. iWave’s intuitive and easy-to-use solutions give access to the industry’s highest quality wealth and philanthropic information so organizations can determine who to ask, how much to ask for, and when to ask. Many of the largest education, healthcare, and nonprofit organizations in the world rely on iWave to power their fundraising efforts. iWave has been recognized as G2’s top-rated fundraising intelligence solution for nine consecutive quarters and was recognized as a Top 50 Best Workplaces in Canada by Great Place to Work in 2022. Discover more at www.iWave.com, or connect with iWave on Facebook, Instagram, Twitter and LinkedIn.

Irvine, CA – September 27, 2022 – Sverica Capital Management LP (“Sverica”) announced today that its portfolio company, Synoptek (or the “Company”), has sold a majority stake to investment firm Quad-C Management (or “Quad-C”). Sverica will retain a minority position as a result of the transaction.

Founded in 2001 and headquartered in Irvine, CA, Synoptek is a leading full-service business technology solutions provider. The Company partners with customers to envision, transform and evolve their businesses to achieve better results using technology. The Company’s global technology services implementation and management platform enables customers to accelerate their use of technology and reduce technology operating expenses.

Synoptek has experienced significant growth since Sverica’s initial investment in October 2015. Under Sverica’s ownership, Synoptek completed five strategic acquisitions which helped increase the Company’s delivery capacity in various geographies and meaningfully expanded its portfolio of services. Today, Synoptek employs over 1,000 technology professionals spanning 12 offices globally. The demand for Synoptek’s services is fueled by growing business dependence on technology and the widespread adoption of cloud platforms such as Microsoft Dynamics, Salesforce, ServiceNow, Azure, AWS, Microsoft 365, and Google G-Suite.

Frank Young, Managing Partner at Sverica, said, “Synoptek has accomplished a tremendous amount since we first joined forces with Tim to further scale the business. During our partnership, the Company experienced dramatic growth, built out a global footprint, and materially expanded its portfolio of service offerings, all of which were beneficial to customers. Tim, the management team, and the employees of Synoptek were great partners throughout. The Company is extremely well positioned for the future, and we look forward to continuing to retain a minority position under the leadership of the Company by Tim and Quad-C.”

Tim Britt, CEO of Synoptek, said, “Sverica became a valuable extension of our team. They had an immediate impact by initiating a pivotal discussion of service portfolio strategy and a shift to cloud-related services. They were great partners and provided important input on the overall direction of the Company which drove accelerated growth.”

“Synoptek and Sverica forged a strong partnership, and the Company’s expanded capabilities, expertise, and resources resulting from strategic investments made with Tim and the Synoptek team position the Company well to deliver valuable full-stack service to customers. We’re excited to continue supporting the Synoptek team as they embark on a new chapter in the Company’s growth,” said Ryan Harstad, Partner at Sverica.

About Synoptek

Synoptek is a global Business and Technology Consulting and Advisory firm that helps companies envision, transform, and evolve. As a Global Systems Integrator and managed Technology Services Provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their business. With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps organizations grow their business while optimizing and protecting their IT ecosystem. With growth, ownership, inclusivity, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders. Discover more at www.synoptek.com, or connect with Synoptek on Facebook, Twitter and LinkedIn.

San Francisco, California – August 2, 2022 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic growth investment in Omeda (“Omeda” or the “Company”).

Based in Chicago, Illinois, Omeda offers a full suite SaaS marketing platform allowing organizations to grow, engage, and monetize their first-party data. With deep vertical expertise in media and information services and a fully integrated, all-in-one subscription management, customer data platform (CDP), and marketing and email automation platform, the Company has a rich history of helping organizations build multi-channel experiences for their customers, subscribers, and members. This unique single stack solution allows organizations full access and activation of their first-party data in one holistic platform. Omeda’s clients use the platform to segment, target, and engage customers through preferred marketing channels, supported by compliant data governance and intuitive workflows.

“We are extremely proud of the company we have built and the transformation we have engineered to make Omeda the full SaaS solution it is today,” said Aaron Oberman, CEO of Omeda. “Finding a great partner in Sverica will allow us to accelerate investments in our products, growth and client experience. The entire Omeda team is excited about this next phase in our company’s journey.” Oberman will continue to lead the Company with COO James Capo, while Jordan Richards, Managing Partner at Sverica, and Ryan Harstad, Partner at Sverica, will join Omeda’s Board as part of the transaction.

Jordan Richards, Managing Partner at Sverica, said, “We are very excited to partner with Aaron, James and team. Through our work we concluded Omeda has the strongest product-market fit and highest NPS score in the category. We believe Omeda is uniquely positioned to continue to gain share with its robust, yet intuitive, technology suite while providing meaningful value to its expanding customer base.”

“First-party audience data is the lifeblood of media companies and associations, and hundreds of these groups have trusted Omeda to manage, amplify, and monetize this data. With content volumes exploding, we believe many more organizations will recognize their role as publishers and the unique power of Omeda’s platform to engage their audiences. We are thrilled to start working with the Omeda team,” added Ryan Harstad, Partner at Sverica.

About Omeda

Omeda is the leading software-as-a-service audience relationship management platform built for media professionals allowing them to acquire, unify, manage and activate their data. The Company provides a real-time, single view of an organization’s audience through 24/7 data storage, data management, data matching and data activation. Offering everything from subscription fulfillment, email marketing, CDP web behavioral and activation services, Omeda delivers a full suite of customizable services to best meet the needs of any media company. Through the development of rich behavioral audience profiles, the Company delivers deep business insights and analytics while also providing new, data-driven revenue opportunities. For more information, visit www.omeda.com.

Boston, Massachusetts – June 10, 2022 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic investment in SG Homecare (“SG Homecare” or the “Company”).

Founded in 2001, SG Homecare is a leading provider of durable medical equipment, prosthetics, orthotics, and supplies (“DMEPOS”) to home-based patients throughout the California market. The Company provides a full suite of DMEPOS products and services, enabling SG to be a one-stop-shop for all their patients’ needs. The Company is a pioneer in using capitated contracts in the DMEPOS space, serving a wide range of payors and risk-bearing provider groups, acting as a value-added partner to these organizations as they seek to provide high-quality care for their home-based patient populations.

“After an exhaustive search for the right growth partner, I determined that Sverica and SG shared the same values and commitment to patient care. We look forward to the opportunity to grow and expand our footprint in the healthcare space.” said Thomas (“Randy”) Rowley, Founder and CEO of SG Homecare. Rowley will continue to lead the Company, while Gregg Osenkowski, Partner at Sverica, and Doug Patrican, Vice President at Sverica, will join SG Homecare’s Board of Directors as part of the transaction.

“We were drawn to SG Homecare because of the Company’s relentless focus on customer service, breadth of product offering, and leadership in risk-sharing payment models with payors and at-risk physician groups. As the number of physician groups taking full risk increases nationwide, we believe models such as SG Homecare will be an attractive alternative to legacy fee-for-service.” said Gregg Osenkowski, Partner at Sverica.

Doug Patrican, Vice President at Sverica, added “SG Homecare’s dedication to the highest quality patient care sets the Company apart and has driven exceptional customer satisfaction across the Company’s payor and provider base.”

About SG Homecare

For over 20 years, SG Homecare has been a leading provider of durable medical equipment, disposable medical supplies, respiratory therapies and oxygen, custom and power mobility, orthotics and prosthetics, and enteral nutrition for patients throughout California. The Company’s broad product offering enables them to meet the DMEPOS needs of nearly all home-based patients and serve as a one-stop-shop for their payor and provider partners. For the last two decades the Company has pioneered the use of capitated arrangements in the DMEPOS space in the California market, providing full alignment with their customers while delivering the highest quality patient care. The Company is based in Tustin, CA with locations throughout the state. For more information, please visit www.sgdme.com.

Boston and San Francisco – January 11, 2022 – Sverica Capital Management, a leading growth-oriented private equity firm focused on the lower middle market, announced today the promotions of Michael Dougherty to Principal and Doug Patrican to Vice President. 

Michael joined Sverica’s San Francisco office in 2012 and has over nine years of private equity experience.  He focuses on sourcing and evaluating new investments, transaction execution, and portfolio company operations for technology, technology services and software companies.  He graduated from Brown University with a degree in economics.  Michael currently serves as a Board Member at Cytracom, DeFy Security, Gorilla Logic and ShadowDragon.

Doug joined Sverica’s Boston office in 2020 and focuses on sourcing and managing healthcare investments. With six years of private equity experience, Doug is a graduate of Boston College with a degree in economics. He also holds an MBA from the Tuck School of Business at Dartmouth College.