Equiteq acted as exclusive financial advisor to Enowa, a Philadelphia-headquartered SAP consultancy, on its sale to Reply, an Italy-based IT consulting firm.
The Equiteq advisory team was led by Daniel Siller and provided Enowa with guidance on valuation, investor landscape, buyer outreach, and transaction terms.
“We chose Equiteq, over a range of other highly-regarded investment banks, as our advisor due to their global platform and relationships, proven-track record of successful transactions in our space, and highly-customized M&A approach,” said the Enowa team. “We are very pleased about the outcome of this sale process and excited about the additional value we can provide our clients and growing team through this combination.”
Headquartered in London, Equiteq specializes in M&A consulting for knowledge-based software and services firms. The investment bank has offices in the UK, US, France, Australia, and Singapore.
Equiteq recently advised on Prokura’s sale to Kearney, HRC Retail Advisory’s sale to Accenture, and PDS Group’s sale to Deloitte.
“We are excited to see the team at Enowa continue their successful journey of almost two decades with Reply as their partner,” said Daniel Siller, managing director at Equiteq. “We wish the combined team great success.”
Enowa’s team of more than 100 SAP consultants will bolster Reply’s global SAP practice. Enowa will lead Reply’s North American SAP competency from their Philadelphia office and will continue to support clients with services in roadmapping and strategy, migration, implementation, upgrades.
“Thanks to the strong complementarity of their services with our current offer, we will create an optimal platform that will allow Reply to further develop its footprint in the United States, the most important world market for IT services,” said Mario Rizzante, president of Reply.
Reply is based in Turin and has more than 10,000 people globally, boasting a US footprint that includes offices in Atlanta, Chicago, Detroit, Kansas City, Seattle, and St. Louis.
The firm delivers consulting, system integration, and digital services to organizations across telecom and media; industry and services; banking and insurance; and the public sector.
Reply also this month acquired The Spur Group, a Seattle-based marketing and sales consulting firm.