Century Park Capital Partners has acquired Accelalpha, a provider of business and IT consulting services, and has completed an immediate add-on acquisition with the buy of Prolog Partners, also a provider of IT consulting services.
Accelalpha is active with Fortune 500 and middle-market companies and its consulting services includes cloud-based supply chain and logistics applications such as global trade management, transportation management, warehouse management, configure price quote (software systems that help sellers quote complex and configurable products), and enterprise resource planning.
The buy of Bellevue, Washington-based Accelalpha was made in partnership with founder and CEO Nat Ganesh, who maintains an equity interest in the company, and he will continue as CEO.
“I wanted to work with a private equity firm that shared our commitment to customers, partners, and employees, so I strategically selected Century Park, whose values and vision for growth align with our own,” said Mr. Ganesh. “Combining with Prolog was the first step in our acquisition growth plan, which enables us to be the ‘go-to’ partner for Oracle cloud logistics deployments, irrespective of the level of complexity.”
Prolog Partners’ consulting services include warehouse management, transportation management, and global trade management. The company was founded in 2017 by Alfonso Ibanez and Harrison Hudgins and is headquartered in Atlanta. Both Prolog founders will remain active in the business and will maintain an equity stake in the merged company.
“Accelalpha and Prolog bring innovative and experienced management teams to the partnership with a sterling reputation for delivering outstanding customer service,” said Marty Sarafa, a managing partner with Century Park. “We are exceedingly impressed with the business and service delivery model that Nat Ganesh and his team have created. The company’s focus on building cost-effective solutions that enable customers to realize an accelerated time-to-value for their investment, along with being recognized as a trustworthy and reliable Oracle partner, serves as a force-multiplier in expanding market opportunities.”
Century Park invests from $10 million to $40 million in middle-market companies that have revenues of $20 million to $100 million and EBITDA of $3 million to $15 million. Sectors of interest include chemicals, medical products and services, business services, engineered products, and consumer products. The firm is based near Los Angeles in El Segundo, California.
Century Park and Accelalpha continue to seek add-on acquisition opportunities. “We think the Accelalpha platform offers selling founders and entrepreneurs a compelling platform to team-up with, particularly in this time of uncertainty and change,” said Tony Trevino, a principal at Century Park. “We will be looking to leverage the company’s scale, strong balance sheet, and infrastructure and look to partner with service providers that offer complementary solutions, geographic expansion, and highly effective talent, as demonstrated by our recent investment in Prolog Partners.”
Financing for the platform acquisition and add-on was provided by Cadence Bank, Graycliff Partners, and ORIX Private Equity.
Private Equity Professional | April 22, 2020