Private equity investment firm Sverica Capital Management, along with Ross Beattie and Gerry Lawless, has acquired iWave Information Systems (iWave) from Jamie Hill of Charlottetown PEI.
This acquisition marks Sverica’s third investment made from its fourth fund. iWave is a Software as a Service (SaaS) company that offers fundraising intelligence to healthcare, education, and non-profit organisations.
Based in Charlottetown, Prince Edward Island, Canada, iWave provides access to data and proprietary analytics to help prospect researchers, fundraisers, and other development professionals determine which donor prospects to ask, how much to ask for, and when to ask. For the past five years, iWave has been one of the fastest growing prospect research software companies in North America and currently serves more than 2,000 client organisations. The partnership with Sverica will further the Company’s goal to become a stronger global prospect research data and software company.
“Partnering with Sverica will expand our capacity to deliver the best value for our client organisations, provide rewarding careers for our team members and create value for our stakeholders,” says Gerry Lawless, iWave CEO. “Most importantly, this will position us to build on our long-term strategy to produce a category leading-company that fundamentally changes the way nonprofits find major gifts to support their great causes.”
Ross Beattie is joining the Company as Executive Director and Vice Chairman, bringing deep leadership experience as the former CEO of HGS Canada.
“iWave has a great opportunity to build upon its momentum, and we are excited to partner with Sverica as we continue to grow. iWave is well positioned to become the leading provider of fundraising intelligence, and we look forward to leveraging Sverica’s experience in realizing that vision,” says Beattie.
Jordan Richards, Managing Director at Sverica, adds: “Gerry and the iWave team have built a great company that has experienced significant growth over the past five years while serving their clients with a powerful data-driven software solution. We are excited to partner with Ross and Gerry and reinvest back into the Company to create new avenues of growth and opportunity for the Company’s employees, customers, and partners.”
