Century Park Capital Partners, a Los Angeles-based private equity firm, has acquired Accelalpha and invested Prolog Partners, merging the two Oracle partners into one IT consulting firm. It sounds like Century Park is seeking to acquire additional Oracle partners and tuck them into the Accelalpha.
This is M&A deal number 210 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Accelalpha of Seattle, Washington, is an IT consulting services firm and that supports Fortune 500 and middle-market companies across a wide range of industries. The company is an Oracle Gold Partner and Oracle Certified Cloud Excellence Implementer. Accelalpha’s expertise spans cloud-based supply chain and logistics applications like global trade management, transportation management and warehouse management.
Founded in 2017, Prolog Partners of Atlanta, Georgia, implements Oracle cloud warehouse management, transportation management, and global trade management software solutions.
Accelalpha and Prolog Merge: Executive Perspectives
Accelalpha’s founder and CEO Nat Ganesh is CEO of the new company and maintains a significant ownership stake in the firm, the company said.
Ganesh commented on the news:
“I wanted to work with a private equity firm that shared our commitment to customers, partners, and employees, so I strategically selected Century Park, whose values and vision for growth align with our own. Combining with Prolog was the first step in our acquisition growth plan, which enables us to be the ‘go-to’ partner for Oracle cloud logistics deployments, irrespective of the level of complexity.”
Marty Sarafa, managing partner with Century Park, added:
“Accelalpha and Prolog bring innovative and experienced management teams to the partnership with a sterling reputation for delivering outstanding customer service. We are exceedingly impressed with the business and service delivery model that Nat Ganesh and his team have created. The Company’s focus on building cost-effective solutions that enable customers to realize an accelerated time-to-value for their investment, along with being recognized as a trustworthy and reliable Oracle partner, serves as a force-multiplier in expanding market opportunities.”
Both of Prolog’s founding partners, Alfonso Ibanez and Harrison Hudgins, will remain onboard and maintain a significant equity stake in the merged entity.
Accelalpha: Looking Forward
Century Park believes the Accelalpha platform offers founders and entrepreneurs who may be interested in selling a compelling team-up opportunity. As such, the two will continue seeking add-on acquisition opportunities.
Tony Trevino, Principal with Century Park, said:
“We will be looking to leverage the Company’s scale, strong balance sheet, and infrastructure and look to partner with service providers that offer complementary solutions, geographic expansion, and highly effective talent, as demonstrated by our recent investment in Prolog Partners.”
Cadence Bank, Graycliff Partners, and ORIX Private Equity Solutions provided financing for the transaction. Winston & Strawn LLP and Crowe LLP advised Century Park. Terms of the transaction were not disclosed.
M&A activity among Oracle partners remains steady worldwide. Track all of the Oracle partner M&A deals and alliances here.