Forward support Invenio on merger with LSI

Forward is delighted to have supported market leading SAP solutions provider, Invenio Business Solutions on its merger with US based, LSI Consulting.

Invenio is a global provider of SAP enterprise solutions and consultancy for the public sector focused on tax and revenue management and for the private sector focused on media and entertainment, manufacturing and pharmaceutical domains. US-based LSI Consulting is a leading provider of SAP enterprise solutions to government, utility, healthcare and educational institutions.

The merger brings together two well-established, high growth SAP implementation and consultancy partners with compatible SAP-based solutions for the public and private sectors. Invenio has a strong presence in Europe, the Middle East and Asia Pacific, while LSI has a strong position in the United States and Canada. Both companies are of similar size, with proforma revenues for year ending 31st March 2021 expected to be north of $100 million.

BGF followed their 2019 investment with further funding to support the merger. The newly merged organisation will act as the premier global SAP partner for public services, delivering significant benefits to existing customers and driving growth globally.

Forward provided support to Invenio during the process, assisting in pulling together a combined financial model to support BGF and bank funding.

Commenting on the transaction Stephen Coxhead, Invenio Group CFO said, “Forward provided great assistance in helping us to cleanly present the combined business to the bank and BGF, and model the new funding.”

Sarah Moores, Director Forward Corporate Finance commented, “This is a transformative deal for Invenio. It was a pleasure to work with Steve and the team to help get this deal over the line.”