Boston, Massachusetts – July 27, 2017 – Sverica Capital Management LLC (“Sverica”) today announced the signing of a purchase agreement to sell Offsite Archive Storage and Integrated Services (“OASIS” or “the Company”) to Montagu Private Equity.
OASIS is a fast-growing provider of Records and Information Management (RIM) solutions, including secure document storage, shredding, imaging and scanning, and data management. This marks the culmination of a very successful partnership between Housatonic Partners (“Housatonic”) and Sverica in the building of a European RIM, during which the Company executed over twenty add-on acquisitions, increasing revenue approximately 4x during Housatonic’s and Sverica’s eight-year investment period.
After becoming the first institutional investors in OASIS in 2009, Housatonic and Sverica supported an experienced management team, which were brought to the Company by the investors, in expanding the Company’s footprint from the Republic of Ireland to include the UK, Belgium and the Netherlands. The 2014 acquisition of Cintas’s European RIM assets was a transformational investment that provided a strong foothold on the European mainland with valuable data management capabilities.
Will Thorndike, Managing Director at Housatonic, said “We were very excited to partner with Dennis and Brian at Oasis which was our fourth investment (and second with Dennis at the helm) in records management — an industry which exemplifies the economic characteristics we focus on. Dennis and Brian have done a terrific job building the business and we wish them the best of luck going forward with their new partners.”
“The tremendous growth and business transformation accomplished by OASIS during our investment period would not have been possible without the deep experience of industry veteran and Executive Chairman Dennis Barnedt and the skillful leadership of CEO Brian Connolly,” said Dave Finley, Managing Director at Sverica. “We are grateful we had the opportunity to serve as the first institutional capital provider to the Company, and are pleased with what we were able to accomplish together.”
“Housatonic and Sverica have been fantastic partners and were instrumental in facilitating our growth,” said Dennis Barnedt. “Their vision of consolidating a fragmented European RIM market allowed us to take advantage of the huge market opportunity that we will continue to pursue with Montagu.”
About OASIS Group
Serving clients since 1999, OASIS Group is one of the largest and most diverse professional record and information management companies in Europe. Headquartered in Dublin, Ireland with locations across the EU, OASIS Group employs over 300 team members and offers its services to over 5,000 clients throughout several industries including financial, legal, healthcare, government and educational sectors. Most recently, OASIS Group was awarded a position on the ‘Inc. 5000 Europe 2017’ list of fastest-growing private companies in Europe. For more information, visit www.oasisgroup.com