The PennZone

WAYNE, Pa., Nov. 4, 2024 ~ Philadelphia-based private equity firm, Renovus Capital Partners, has recently announced its majority investment in Performive, a leading provider of managed IT services for mid-market enterprises. This strategic partnership will enable Performive to accelerate its growth and pursue various initiatives such as product innovation, enhancing customer experience, and enabling partnerships.

Performive, founded in 2005, is a managed services provider that specializes in cloud services, infrastructure services, and cybersecurity. With a strong focus on providing mission-critical services to its thousands of customers, the company has gained recognition in the industry for its technical expertise and exceptional service.

The investment from Renovus will allow Performive to further expand its solution offerings and strengthen its team. It will also provide opportunities for the company to pursue acquisitions that align with its commitment to delivering high-value and customer-focused services.

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Gary Simat, Co-Founder and CEO of Performive expressed his excitement about the partnership with Renovus stating that it is a pivotal moment for the company. He believes that this investment will fuel their continued innovation and enable them to enhance the customer experience while driving greater value for their clients. Simat also added that with this investment, they are ready to accelerate their goal of becoming a leading MSP serving mid-market enterprises across the U.S.

Renovus' Managing Director Jason Tanker shared his enthusiasm about this investment stating that they have built a thesis on investing in differentiated MSPs with highly recurring revenue and critical service offerings. He believes that Performive fits this profile perfectly and sees tremendous growth potential in the company's platform. Tanker also mentioned that they are excited to partner with the team at Performive to accelerate the company's expansion both organically and through acquisitions.

Performive is Renovus' first platform out of Renovus IV which was launched in October 2024 with $875 million of total commitments.

Layer 7 Capital served as exclusive financial advisor while McDermott Will & Emery and DLA Piper served as legal counsel for Performive and Renovus, respectively. This partnership marks a significant milestone for Performive and is expected to drive the company's growth and success in the future.

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