Warren Equity Partners Announces Acquisition of SSP Innovations, LLC
DENVER–(BUSINESS WIRE)–Warren Equity Partners, a middle market private equity firm, is pleased to announce its majority investment into SSP Innovations, LLC (“SSP” or the “Company”). SSP provides geographic information systems (“GIS”) implementation, customization and integration services, as well as proprietary software supporting customers’ GIS and workforce management systems (“WFM”). SSP will serve as a platform investment in Warren Equity’s strategy to build an industry leading GIS integration company. Financial terms of the transaction were not disclosed.
SSP, headquartered in Centennial, Colorado, is an IT services and software development company focused on delivering GIS and workforce management solutions to electric, gas, and water utilities as well as oil & gas pipeline operators and telecommunication providers. Skye Perry founded the Company ten years ago and has built the business into one of the preeminent providers of GIS solutions in the United States. Growth in the GIS market is being driven by utilities’ and municipalities’ accelerating investment in enterprise GIS solutions as part of their overarching smart grid programs. Mr. Perry will continue to be the CEO of SSP and will lead the Company’s efforts to build on the platform.
Mr. Perry commented, “SSP has grown significantly over the past several years, and we believe that now is the right time to bring in an experienced partner to help us to continue to scale the business. I chose to partner with Warren Equity due to their experience and familiarity with our market and their ability to bring operational and strategic insights into how we can accelerate growth.”
“Warren Equity has in depth familiarity with the demand for GIS and WFM services in the utility and government sectors, and SSP is clearly a knowledge leader in the space. Our existing portfolio company, Hydromax USA, is a utility services company that utilizes GIS tools daily, and we intend to explore sales and product synergies between these two companies going forward,” said Scott Bruckmann, Partner at Warren Equity. “We feel that SSP is extremely well positioned under Skye’s leadership and are excited to partner with the Company in its next chapter of growth.”
Skye Perry will join Scott Bruckmann and Steven Wacaster from Warren Equity on the board of directors.
This transaction is Warren Equity Partners’ fifth investment since its formation in mid-2015.
Akerman LLP acted as legal advisor to Warren Equity Partners.
About SSP Innovations, LLC
SSP, headquartered in Centennial, Colorado, is an IT services and software development company focused on delivering GIS and workforce management solutions to electric, gas, and water utilities as well as oil & gas pipeline operators and telecommunication providers. More information about SSP is available at http://sspinnovations.com/.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in small and middle market operating companies primarily in North America. The firm invests in established companies where additional capital and operating resources can accelerate growth, targeting companies in the industrial, infrastructure, and business services sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.