Intrepid Investment Bankers, a leading middle-market investment bank, today announced the recapitalization of its client, Avaap, a premier provider of implementation services and proprietary product solutions for Infor software solutions, with New MainStream Capital, a growth-oriented middle-market private equity firm. With the support of its value-added partner, Avaap will accelerate implementation of growth initiatives, including pursuing complementary acquisitions and entering new markets.
“Avaap remains in a high growth phase which is a direct reflection of our ability to understand our customers’ industry-specific requirements and deliver IT services and solutions that enable them to accelerate their own business goals,” said Dhiraj Shah, CEO of Avaap. “This investment will allow Avaap to support continued growth, expand into new territories, and build upon our position as a leader in Enterprise Application Services. Intrepid has been an impressive partner for us, conducting a selective and thoughtful process designed to meet our organizational goals. We could not be more pleased with their attention to detail and with the outcome they delivered. It was a pleasure working with Ed Bagdasarian and the entire team at Intrepid.”
“In less than 10 years, Dhiraj built the leading integrator of Infor software solutions in the United States, by nurturing a truly unique and a world-class management team,” said Ed Bagdasarian, Managing Director and CEO of Intrepid. “Having become a key strategic partner to Infor, Avaap asked us to help it identify a financial partner with sector knowledge to help accelerate its global expansion. After conducting a highly competitive process, we selected New MainStream Capital as the best partner to help management capitalize on significant growth opportunities. We are privileged for the opportunity to help Dhiraj and his team execute a key step in Avaap’s playbook.”
Added Tristan Snyder, Co-Head of Intrepid’s Software & Services practice: “Avaap has grown rapidly to become a quintessential ecosystem partner playing a critical role in Infor’s growing presence in the Tier I Enterprise Application Software space. We are pleased to have had the opportunity to assist Dhiraj in taking the business to the next level.”