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.”
Deal Team Contacts:
- Ed Bagdasarian, Managing Director
- Christopher Park, Managing Director and Head of Software & Services
Headquartered in Edison, N.J., with a global center of excellence in Chennai, India, Avaap is one of the largest Infor-only IT services and software development firms with deep industry expertise in equipment rentals and sales, healthcare, public sector, manufacturing and distribution, food and beverage, retail and fashion. Avaap delivers Infor-specific software solutions and IT services designed to help address specific business outcomes, technology optimization and operational excellence. Avaap’s portfolio of JumpStart solutions can help accelerate technology installations and are designed to help customers achieve more immediate value from their Infor software investments. Avaap has earned numerous industry accolades, including being named on Computerworld’s list of “100 Best Places to Work in IT” in 2014 and 2015; recipient of Infor’s Alliance Partner of the Year award in 2014 and 2015; 2013 Infor Service Partner of the Year; five year honoree on the Inc. 500, recipient of NJBIZ 50 Fastest Growing Companies 2015 and Best in Biz Awards in 2015. For more information, visit www.avaap.com.
About New MainStream Capital
New MainStream Capital is a New York and Dallas-based private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. New MainStream focuses on companies headquartered in the United States poised to benefit from demographic and other secular growth trends. The firm invests across a broad spectrum of industries, with particular concentration on: Healthcare Services, Consumer Products and Services and Specialized Business Services.
About Intrepid Investment Bankers
Intrepid Investment Bankers provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning of the client’s story and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through active membership in M&A International, an exclusive global alliance of M&A advisory firms.
About Intrepid’s Software & Services Practice
We find that accessing capital or achieving an exit at a premium valuation requires an entrepreneur to have a unique and disruptive idea, a scalable business model, vision for sustained growth, and the right team to execute. Our bankers take the time to understand a company’s model and assist it in clearly defining and articulating its vision to the market. Intrepid’s Software & Services practice is an innovative and focused strategic advisory unit that has deep industry expertise assisting entrepreneurs and middle-market business owners across subsectors, including: SaaS, Cloud Computing, Big Data and Analytics, Tech-Enabled Business Services, eCommerce and Digital Media.