Bunker Hill makes 4.5x on Rizing sale to One Equity Partners

  • Bunker Hill built SAP consulting business
  • First acquisition, /N SPRO, in 2009
  • One investment left to exit in Fund I

Bunker Hill Capital’s sale of Rizing produced a return of just over 4.5x, a source familiar with the matter told Buyouts. The company was purchased by One Equity Partners.

The transaction represents the culmination of a strategy that began with Bunker Hill’s acquisition of /N SPRO, a Canadian SAP (Systems Applications and Products) consulting business, in 2009.

Bunker Hill went on to invest in complementary companies DeyFischer Consulting, as an add-on in 2011, and Vesta Partners in 2012.

In 2014 the Boston private equity firm created Rizing to serve as the parent of Vesta and /N SPRO. Mike Maiolo, CEO of Vesta, was named chief executive of the new company.

Headquartered in Stamford, Conn., Rizing has 14 offices worldwide and offers specialized IT consulting services to businesses that use SAP enterprise software.

The deal was from Bunker Hill Capital I, which closed in 2006 on $125 million. Bunker Hill has now exited five companies from that fund’s portfolio, with one remaining. The firm wrapped up its second fund with $200 million in January 2011.

Based in New York, One Equity Partners focuses on the industrial, healthcare and technology sectors in North America and Europe. The firm was founded in 2001 and spun out of JP Morgan in 2015.

Action Item: Check out Bunker Hill’s Form ADV here.

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