Celebrating client success in the cloud
06 Apr 2015
M/C Partners, private equity firm based in Boston, has invested in and acquired a majority interest in Denovo Ventures LLC, a full-service enterprise hosting/cloud and professional services firm based in Niwot, Colorado. The financing will enable Denovo to make acquisitions and invest in the development of its cloud and managed services offerings as well as provide liquidity for Denovo’s founders.
The terms of the deal were not disclosed publicly, but satisfaction from both sides was expressed in the news release announcing the acquisition. “We couldn’t be more excited to join forces with M/C Partners. M/C’s expertise in the technology sector and their ability to identify and stay ahead of market disruptions was key for Denovo,” said Mark Goedde, President and COO, Denovo.
“We envision Denovo playing a leading role in consolidating ERP consulting, managed services and hosting providers serving small to medium enterprises,” said Gillis Cashman, a managing partner at M/C Partners, “…we are excited to partner with Denovo’s founding management team.”
Denovo is represented by Ireland Stapleton’s corporate group including lead attorney Michael Miller. The firm provides legal advice to Denovo on finance and merger and acquisition transactions in addition to other significant contractual matters. “The transaction with M/C Partners will help catapult Denovo forward in its growth strategy. Our understanding of Denovo’s business strategy and future goals allowed us to be agile and efficient when providing legal advice to Denovo and helping structure a deal that is a win-win for both parties involved,” said Miller.