Keystone Capital (“Keystone”) is pleased to announce that its portfolio company Movilitas (“Movilitas”) has been acquired by Engineering USA, the North American subsidiary of the Engineering Group. Terms of the transaction have not been disclosed.
Movilitas is an industry leader in digital supply chain and digital manufacturing consulting services and solutions. Keystone initially invested in Movilitas in 2013. Throughout the ownership period, Keystone and Movilitas partnered to significantly grow the business both organically and through strategic acquisitions in the U.S. and Europe. Movilitas represents another example of Keystone’s commitment in investing in the Business and Professional Services sector.
“We are extremely appreciative for the hard work, dedication and commitment from the Movilitas management team in building a market leading business and delivering a great outcome for shareholders” commented Scott Gwilliam, Managing Partner of Keystone. “We wish the Movilitas management team the best for their new chapter.”
“During our hold period, we worked with Movilitas to expand and enhance the management team, including bringing in CEO Ross Young, who Keystone had previously partnered with at Peak-Ryzex. We are proud of the work we accomplished along with the Movilitas management team to accelerate organic growth and execute strategic acquisitions to expand market share, geographic reach and service offerings to our enterprise clients,” said Chaoran Jin, Managing Director of Keystone.
Ross Young, Chief Executive Officer of Movilitas added, “The team at Keystone has been a great business partner for Movilitas. They found the perfect balance of providing guidance paired with autonomy that enabled our management team to successfully drive the agreed upon strategic and financial initiatives. With Keystone’s counsel, we also found the right strategic partner in Engineering Group as part of the Industries eXcellence Global division for the next chapter of our growth.”
Investment banking services were provided to Movilitas and Keystone by Stifel, Nicolaus & Company, Inc., and legal services were provided to Movilitas and Keystone by Honigman LLP.
Movilitas is a global consulting services and solutions company helping enterprises transform their business to meet the demands of today’s dynamic economy. Movilitas is recognized as a long-standing trusted SAP partner and strategic advisor for digital supply chain transformation. The company’s industry expertise and accelerators for SAP solutions and applications, such as Movilitas.Cloud, help businesses to future-proof operations, maintain compliance and realize new growth opportunities.