Renovus Capital Partners buys IT consultancy LeapPoint

Private equity firm Renovus Capital Partners has acquired LeapPoint, a Reston, VA-based provider of work management technology consulting.

Founded in 2006, LeapPoint helps clients in financial services, healthcare, and retail leverage work management technology to help them more effectively manage projects, driver better collaboration and coordination, and improve overall team performance and business results.

LeapPoint’s approximately 50 professionals have particular expertise advising clients on Adobe and Workfront solutions. The consultancy’s other technology partners include Microsoft, Workato, and Allocadia.

Work management software has taken on added importance as the growth in remote work has increased the importance of digital collaboration and teamwork. Renvous’ acquisition of LeapPoint will aim to scale the company to further capitalize on expected demand growth in the area.

"During and post Covid, the importance of connected digital solutions to improve customer and employee experiences is greater than ever," said Jesse Serventi, founding partner at Renovus. "LeapPoint's innovative approach to connected digital experiences is transforming the biggest companies in the world. Under our partnership, we plan to help LeapPoint scale even faster to a larger set of enterprise clients."

LeapPoint’s executive team will remain the same following completion of the acquisition, for which financial terms were not disclosed. Renovus' accounting advisor on the deal was Cherry Bekaert, and its legal advisor was DLA Piper. Kipps DeSanto & Co. advised LeapPoint on the sale.

"Renovus shares our people-first mindset and we are excited to work with them to bring rocket fuel to our end-to-end Connected Work breadth of services for Adobe, Adobe Workfront and other technology implementations,” said Nicholas DeBenedetto, CEO of LeapPoint.

Based in Wayne, PA, Renovus invests in education, healthcare, business, and technology services firms with Ebitda of less than $10 million. The firm manages approximately $1 billion in investments, and has a portfolio of more than 20 US-based businesses.

The company earlier this year sold its majority stake in management consultancy KSM Consulting, which it had acquired in 2019.

Renovus also this year made a “significant” growth capital investment in Thought Logic Consulting, an Atlanta-based provider of management and technology consulting services.