September 21, 2020
Transact Capital Completes Recapitalization of GlideFast and Pharicode with a Significant Investment from BV Investment Partners
Transact Capital Securities announced the recapitalization of GlideFast Consulting, LLC, and Pharicode, LLC, two Elite ServiceNow sister companies, through a significant investment by BV Investment Partners, one of the oldest and most experienced sector-focused private equity firms in North America. Transact Capital served as the exclusive financial advisor for both companies.
GlideFast Consulting and Pharicode, were both founded by Lloyd Godson, Michael Lombardo, and Stephen Light. Since inception, they have grown rapidly to serve enterprise, commercial, and public sector customers delivering ServiceNow solutions and implementations. Within three years, GlideFast Consulting had become a ServiceNow Elite partner and recognized as #341 on the Inc. 5000 list of the 2020 fastest-growing companies in the United States. Pharicode became a ServiceNow Elite Partner in 2020.
“We have an exciting vision for the future of both GlideFast Consulting and Pharicode, and we look forward to leveraging BV to help us scale faster and solidify ourselves as the top partners in the industry. Our commitment has always been, and always will be, to the success of our customers and our team,” says Michael Lombardo, CEO of GlideFast Consulting.
Stephen Light, CEO of Pharicode stated: “We pride ourselves in providing top-tier services to our customers and now with additional capital and support from BV, we can better execute our plans to position Pharicode as a top ranking ServiceNow partner in the public sector space.” Light added “Transact Capital played a major role in making this happen with solid strategy and execution. We felt like they were fully part of our team the entire way with the strong trust and relationship we developed with them.”
Lombardo further explained: “Transact Capital’s disciplined process and relentless pursuit of our goal made for a great partnership. ”
Transact Capital’s team was led by Steve Zacharias, Patrick Morin and Ross Harris and the deal was fully completed within six months.
About GlideFast Consulting
GlideFast, LLC is a ServiceNow Elite Partner and professional services firm that provides tailored solutions and professional services for ServiceNow implementations, integrations, managed support services, application development, and training. Learn more at www.glidefast.com.
Pharicode, LLC is a ServiceNow Elite partner that provides cutting edge technology services, managed services, and staff augmentation to public sector organizations. Their service mobilizes the right people, skills and technologies to help organizations improve their performance in the realms of software development, engineering, cloud solutions, process improvement, and sustainment support. Learn more at www.pharicode.com.
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $3.7 billion, actively targeting investments in the business services, software and IT services industries. For more information, please visit www.bvlp.com.
About Transact Capital Partners
Founded in 2001, Transact Capital Partners, LLC is an independent, merger & acquisition advisory firm headquartered in Richmond, VA, with additional offices in the Midwest and Southeast. Transact provides financial advisory services for privately-owned companies, including company sales, recapitalizations, corporate carve outs, management buyouts, acquisitions, corporate valuations and business consulting. Transact serves clients in a range of industries, including healthcare, business services, manufacturing, consumer products, IT-based software providers and logistics/transportation services. For additional information please visit www.TransactCapital.com. Securities are offered through Transact Capital Securities, LLC a wholly-owned Affiliate of Transact Capital Partners LLC, and member FINRA & SIPC.