Sep 22, 2016
Collaborative Solutions, a leading business transformation consultancy, announced today that it has received a growth investment from WestView Capital Partners, a Boston-based private equity firm. Westview’s investment in Collaborative represents the first institutional funding taken by the company and will help fuel its continued rapid growth and expansion in the global cloud consulting services space.
Collaborative Solutions is the longest-tenured and among the largest independent Workday services partners, deploying Workday’s solutions for Financial Management, HCM, Payroll, and Student, and providing key strategic and change management services to its 275+ customers. Dedicated to customer success, Collaborative has earned a 98% customer satisfaction rating, which include global Fortune 500 companies, medium-sized businesses, and education and government institutions that operate in more than 125 countries. The investment by WestView will allow Collaborative to accelerate its strategic growth plans by enabling further innovation around its Cynergy™ deployment methodology and toolset, increasing the recruitment and development of its world-class expert consulting staff, and expanding its presence globally.
“I am excited about Collaborative’s partnership with Westview, and the experience that Rick and his team will bring us as we continue to grow our organization,” said Carroll Ross, CEO of Collaborative Solutions. “WestView’s experience in supporting growth-oriented companies such as Collaborative will help us as we aggressively ramp up our strategic initiatives around our people and our innovative services offerings, strengthening our ability to help our customers maximize their investments in the cloud and see the benefits of that investment more quickly.”
“We are excited to partner with the Collaborative team,” said Rick Williams, Managing Partner at WestView. “Carroll and his team have built an impressive company, highlighted by its industry-leading customer satisfaction, deep Workday experience, and strong financial performance. We look forward to supporting them as they continue to invest and build upon their strong position in the industry.”
Collaborative Solutions will continue to be majority-owned and operated by the company’s founders, with WestView Capital Partners joining Collaborative’s Board of Directors.
Childs Advisory Partners served as Collaborative’s exclusive Investment Banking advisor on the transaction.
About Collaborative Solutions:
Collaborative Solutions is a leading global Finance and HR Transformation consultancy that leverages world-class cloud solutions to help deliver successful outcomes for its customers. As one of the longest-tenured consulting partners with Workday, Collaborative Solutions has executed over 275 Workday Financial Management, HCM, and Payroll deployments for global Fortune 500 companies, medium-sized businesses, and education and government institutions. Collaborative Solutions has deployed in over 125 countries and has experience with organizations ranging from 200 to 200,000 employees. Collaborative Solutions is based in the Washington, D.C., metro area with offices in Pleasanton, CA; Chicago, IL; Atlanta, GA; Tampa, FL; New York City, NY; Toronto, Ontario and Dublin, Ireland. For more information, visit www.collaborativesolutions.com.
About WestView Capital Partners:WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in industries such as business services, software and IT services, consumer, healthcare technology and outsourcing and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more information, please visit www.wvcapital.com.