Equiteq advises Groundswell Cloud Solutions on sale to GyanSys

20 January 2022 Consulting.ca 2 min. read
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Investment bank Equiteq advised Groundswell Cloud Solutions, a Vancouver-based Salesforce consulting firm, on its sale to GyanSys Inc., an Indianapolis-based IT consulting firm.

Alex Floess, director, led the Equiteq team which served as exclusive financial advisor to Groundswell.

“We have an enormous amount of respect for the Groundswell team and the leading platform they had built over the past decade,” Floess said. “Groundswell’s niche position in the Salesforce vertical, proven track-record of delivering highly complex digital transformations, scalable business model, and innovative culture all combine to position the business very well for success going forward.”

Equiteq specializes in M&A consulting for knowledge-based software and services firms, and has offices in the UK, US, France, Australia, and Singapore.Equiteq advises Groundswell Cloud Solutions on sale to GyanSys The investment bank recently advised on the sale of Enowa, a Philadelphia-headquartered SAP consultancy, to Reply, an Italy-based IT consulting firm.

“The Equiteq team’s emotional intelligence, unwavering resolve, and technical expertise set us up for success as we embarked on a process,” said Brian Wiebe, CEO of Groundswell. “We are truly thrilled with the result and the home they found us at GyanSys, where we can continue on our growth journey.”

Groundswell was founded in 2012 and has since grown to more than 100 on-shore consultants. The privately held firm delivers Salesforce advisory and implementation services across sales, marketing, commerce, and experience clouds – working with clients in consumer goods, retail, technology, and life sciences.

GyanSys’ acquisition of Groundswell will boost its global Salesforce practice to more than 250 people.

GyanSys is a mid-tier IT consulting and systems integration firm with more than 2,000 consultants serving clients in the Americas, Europe, and Asia-Pacific. The firm provides solutions and services across IT advisory, implementations, managed services, and data analytics for enterprise applications including Salesforce, SAP, and Microsoft.

“This new chapter helps GyanSys scale our strategic partnerships with Salesforce while expanding our coverage throughout the US and Canada to better serve our customers globally," Rajkishore Una, GyanSys CEO, said.

Financial terms of the transaction were not disclosed.