10/07/2020
Citizens Advises BV Investment Partners on Purchase of Two ServiceNow partners – GlideFast Consulting and Pharicode
PROVIDENCE, RI – Citizens M&A Advisory served as the exclusive financial advisor to BV Investment Partners ("BV"), a Boston-based private equity firm focused on information and business services and communications industries, on its simultaneous acquisition of two ServiceNow (NYSE: NOW) consulting partners – GlideFast Consulting, a Boston-based commercial partner, and Pharicode, a Huntsville-based government partner.
GlideFast Consulting is one of the largest pure play, independent ServiceNow consulting firms. Founded in 2015, the company has achieved Elite status with exceptional customer satisfaction ratings and growth (No. 341 on the 2020 Inc. 5000 list). The company implements, develops and provides process improvement to ServiceNow’s commercial customers, including some of its largest enterprise accounts.
Pharicode is a fast-growing ServiceNow consulting partner dedicated to federal, state and local government clients. Founded in 2016, the company has achieved Elite status by providing cutting-edge technology services, managed services, cloud migrating and hosting, and staff augmentation.
Matt Kinsey, senior managing director of BV Investment Partners, said: “We involved Don and the Citizens team due to their extensive experience base working with service businesses operating in high-growth SaaS end markets. They were an extension of our internal team and helped us move quickly and efficiently to complete the two transactions.”
Don Holbrook, managing director at Citizens, said: “We have been tracking the ServiceNow ecosystem for a few years and have now sold three ServiceNow consulting firms. With GlideFast and Pharicode in their holdings, BV has two of the top ServiceNow consulting firms in the ecosystem, which are well-positioned to grow and scale.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions as well as later-stage financing transactions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has closed more than 140 transactions in the last five years and has more than 80 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $179.9 billion in assets as of June 30, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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