Ridgecrest Advisors’ Client Perficient Acquires Clarity Consulting
St. Louis – June 23, 2017 – Ridgecrest Advisors announced today that its client, Perficient, Inc. (NASDAQ: PRFT), the leading digital transformation consulting firm serving Global 2000 and other large enterprise customers throughout North America, today announced it has acquired Clarity Consulting, a Chicago-based $27 million annual revenue consultancy with deep expertise in custom development, cloud implementations and digital experience design on Microsoft platforms and devices.
The acquisition is expected to be accretive to adjusted earnings per share immediately.
“We are excited to further strengthen Perficient with the strategic acquisition of Clarity,” said Jeffrey Davis, Perficient’s chairman and chief executive officer. “Microsoft’s cloud momentum is accelerating and Clarity’s outstanding capabilities, impressive client roster and strong reputation expand and enhance our formidable market presence and broaden and deepen our long-standing partnership with Microsoft.”
The acquisition of Clarity:
- Builds Perficient’s Microsoft offerings and qualifications with additional software development and digital design capabilities as well as intellectual property assets;
- Increases Perficient’s presence in the North Central region and in the enterprise-rich Chicago market;
- Adds approximately 160 consulting, technology, sales and G&A professionals; and
- Brings strategic client relationships with Fortune 1000 customers across several industries.
Clarity founders Jeff Smith and Jon Rauschenberger and partner Jerry Brunning all join Perficient in key leadership roles.
“Perficient is well known for its expertise across many technology platforms and is widely-regarded as one of the largest and most capable Microsoft systems integrator partners in the country,” said Smith. “Joining the Perficient team accelerates our collective opportunities for continued growth and success.”
Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient on the transaction in his capacity as a registered investment banking agent of M&A Securities Group, Inc. “The combination of Clarity and Perficient promises to be a powerful one for driving Microsoft ecosystem solutions for enterprise clients,” said Grigg.
Perficient is the leading digital transformation consulting firm serving Global 2000® and enterprise customers throughout North America. With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Our work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Perficient’s professionals serve clients from a network of offices across North America and offshore locations in India and China. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Premier Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Adobe Premier Partner, and a Platinum Salesforce Consulting Partner. For more information, visit www.perficient.com.
About Ridgecrest Advisors
Ridgecrest Advisors is an investment banking and business consulting firm dedicated to helping technology consulting firms dramatically increase enterprise value. Ridgecrest Advisors helps clients in four core areas:
- Buy-side M&A advisory: We help technology consulting clients increase enterprise value by successfully executing transactions which fortify, extend or transform their businesses. We have run three of the most active acquisition programs in the sector over the last 15 years and bring deep insight into full lifecycle M&A efforts.
- Sell-side M&A advisory: We help technology consulting clients achieve premium valuations with attractive deal structures through a process that emphasizes speed and risk mitigation. Our deep industry expertise, expansive relationships with the buyer community and unmatched understanding of the perspectives of acquiring firms provide a unique ability to execute optimal transactions.
- Business consulting: Our Enterprise Value Optimization program helps technology consulting clients improve relative performance visibility, increase profit margins and reduce business risk. With our extensive experience from evaluating hundreds of consultancies while running acquisition programs, we bring unique insight into key performance indicator benchmarks and best practices of highly profitable firms.
- Private placements: Our ability to successfully raise capital allows our technology consulting clients to build value through funded strategic investment and reduce personal financial risk by realizing partial liquidity on their ownership positions. We have extensive relationships with private equity and debt financing providers who have experience and/or interest in the technology consulting sector.
All services involving securities are offered through M&A Securities Group, Inc. (“MAS”), member FINRA/SiPC; 4151 North Mulberry Drive, Suite 252; Kansas City, MO 64116; 816.888.7920. MAS and Ridgecrest are not affiliated entities.