SAN FRANCISCO–(BUSINESS WIRE)–January 11, 2021–
Sverica Capital Management LP (“Sverica”) announced today the sale of 7Summits, LLC (“7Summits” or the “Company”), a leading Salesforce digital solutions consultancy, to International Business Machines Corporation (“IBM”). This marks the culmination of a seven-year successful partnership with 7Summits, during which the Company nearly quintupled in size while going from no Salesforce presence to being one of the largest independent providers in the ecosystem.
In 2013, Sverica partnered with 7Summits Founder & CEO Paul Stillmank to capitalize on the company’s core strength-using technology to collaborate with co-workers, partners and customers to create business growth and efficiencies. Sverica and Paul then reinvested back into the company for several years to focus on driving the Company’s Salesforce business, implementing systems and processes to enhance forward revenue visibility, and creating organizational capacity by adding talented executives. These efforts created a significant number of technology jobs in 7Summits’s hometown of Milwaukee and garnered numerous accolades including being named a Best Place to work both locally and Nationally in 2020 and making the Inc. 5000 list five times in its history with 2020 marking the second consecutive year.
7Summits has also been recognized for its accomplishments in the Salesforce ecosystem being named a Platinum Consulting Partner in consecutive years and more recently achieving Salesforce National SI Status, one of just nine and the only independent systems integrator to do so.
“It has been an honor to go on this fantastic seven-year growth journey with Paul and the talented 7Summits team as the company scaled to become a category leader during Sverica’s ownership. For many years, 7Summits has delivered best in class, unique solutions to enterprise clients changing how people work, collaborate and communicate. I am proud to see how far up the mountain the Company has been able to climb and I am confident it will continue to grow and flourish within the IBM organization and ultimately reach the next summit,” said Jordan Richards, Managing Partner at Sverica.
Ryan Harstad, Partner at Sverica, added “7Summits is a special organization – one with a clear mission, a rich culture, and tremendous momentum. The Company’s success is not only a tribute to Paul’s compelling vision and boundless energy, but also the deep expertise and tireless dedication of the entire 7Summits team. Partnering with Paul and 7Summits has been a delight, and with both bittersweetness and excitement I wish them a happy journey with IBM.”
“Sverica has been a remarkable partner over the years,” said Paul Stillmank, 7Summits’ Chief Executive Officer. “They stood behind our vision and enabled our purpose To Unleash People’s Potential to Create, Compete and Innovate in Entirely New Ways. They proved a valuable sounding board on corporate strategy and governance while providing our management team room to run this business at high velocity. I am extremely proud of our joint team effort building a remarkable company that has become a standout player in so many categories.”
7Summits is a digital solutions provider that uses the power of connected experiences and the Salesforce platform to unlock business value. 7Summits’ clients benefit from the fact that community-led solutions empower customers, enable partners and unleash employees to build a client’s business for them. The Company’s highly collaborative approach strengthens client solutions by combining the expertise of strategic consultants, experience designers, technical developers and success specialists. 7Summits’ client solutions launch faster thanks to their Accelerator Library of configurable Salesforce Lightning applications. 7Summits is a Salesforce Platinum Consulting Partner and is recognized annually for its rapid growth and as a best place to work. For more information, visit www.7SummitsInc.com.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit www.sverica.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210111005397/en/
Sverica Capital Management LP
- up-to-date information on the subjects of interest to you,
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more.
Source: Read Full Article