Private investment firm Sun Capital Partners (Sun Capital) has completed the acquisition of Exadel, a founder-owned, global provider of digital software engineering solutions and services. Terms of the private transaction have not been disclosed.
Founded in 1998 and headquartered in Walnut Creek, California, Exadel builds critical enterprise-wide platforms with a focus on accelerating digital transformation for blue chip customers around the world. With more than 20 locations and delivery centres across the US and Europe, Exadel uses agile practices to solve complex engineering problems for clients such as Deloitte, Google, HP, McKesson and Mercer.
“Sun Capital has invested in technology and technology-enabled services businesses over our history, and we are very excited that Exadel is our first tech platform investment since we formalised our focus on the technology vertical and formed a dedicated team,” says Marc Leder, Co-Chief Executive Officer of Sun Capital. “We look forward to leveraging our experience in building founder-owned businesses to accelerate Exadel’s growth.”
“It was critical for us to work with a firm that has deep expertise in supporting and growing founder-owned businesses through both strategic acquisitions and operational improvements, and Sun Capital emerged as the clear choice,” says Fima Katz, Founder, President and CEO of Exadel. “With the resources and operational experience Sun Capital brings to Exadel, we are well-positioned to continue to advance our capabilities and expand to serve a growing global market.”
Exadel is well-positioned to seize the significant opportunities created by an outsourced software development market that is accelerating at 18-20 percent annually as companies seek better engineering talent to deliver more cost effective, higher quality solutions.
“Sun Capital is excited to work with Fima and the talented team at Exadel to support their continued growth and provide capital for the Company to acquire other businesses and additional talent to serve clients in this fragmented space,” adds Elizabeth de Saint-Aignan, Managing Director, who leads the technology vertical at Sun Capital. “In addition, we will look to drive growth by applying the Sun Transformation System to enhance operations and bring Exadel’s solutions to the increasing number of companies pursuing digital transformation.”