Ridgemont Equity Partners Leads Recapitalization of smartShift

In today's rapidly evolving digital landscape, businesses are constantly seeking innovative solutions to optimize their operations and increase efficiency. One such solution provider, smartShift, has recently made headlines with its successful recapitalization led by Ridgemont Equity Partners. With a focus on tech-enabled services for SAP custom application migrations, upgrades, and transformations, smartShift is poised to revolutionize the industry.

SmartShift's key differentiator lies in its Intelligent Automation Platform, which simplifies, modernizes, and generates maintainable code that seamlessly integrates into an SAP customer's targeted system during the application upgrade and cloud migration process. This proprietary solution has not only demonstrated its value proposition to customers but has also garnered recognition from Global System Integrator channel partners.

With the support of Ridgemont, smartShift is entering an exciting phase of growth. The strategic resources and expertise brought to the table by Ridgemont will serve as catalysts for accelerating smartShift's expansion and penetration into the vast addressable market. This partnership aims to optimize the company's go-to-market strategy, enhance its recurring solution offering, and foster a culture of continuous innovation.

Anthony Cassano, a Partner at Ridgemont, notes that smartShift's automated solution fills a critical need in the market by streamlining the resource-intensive process of migrating from a legacy SAP ERP platform to a modern cloud-based system. This unique and efficient approach positions smartShift as a frontrunner in the industry, further solidifying Ridgemont's confidence in the company's potential for success.

Rob Edwards, Managing Partner at Ridgemont, expressed the firm's commitment to identifying promising middle market companies and providing them with the necessary capital and support to execute value creation initiatives. Ridgemont's investment in smartShift aligns with their tech-enabled business services practice, which focuses on solving complex workflows and supply chain challenges for customers.

The recent recapitalization of smartShift not only highlights the company's growth and potential but also underscores the trust and confidence placed in it by industry experts. Financial advisor Canaccord Genuity, legal advisors Goodwin Procter (to Ridgemont) and Goldberg Kohn (to smartShift), as well as debt financing from Barings, all played a crucial role in facilitating the transaction.

About smartShift

smartShift offers a revolutionary approach to SAP custom code migration and optimization. Utilizing AI-powered solutions, smartShift delivers secure, stable, and optimized code in a matter of weeks, significantly reducing the time required compared to traditional methods. The company boasts an impressive track record, having modernized over 3,000 SAP systems and converted more than 2.5 billion lines of code. For more information, visit www.smartShift.com.

About Ridgemont Equity Partners

Ridgemont Equity Partners is a prominent middle market private equity firm headquartered in Charlotte. With over three decades of experience, Ridgemont has provided buyout and growth capital to leading companies in various sectors, including business and tech-enabled services, industrial growth, and healthcare. The firm's industry-focused model has proven successful in building distinctive middle market companies. For more information, visit www.ridgemontep.com.

As the partnership between smartShift and Ridgemont takes shape, the tech-enabled services provider is poised to make even greater strides in optimizing SAP custom application migrations, upgrades, and transformations. With a unique and efficient solution at their disposal, smartShift has the potential to revolutionize the industry and drive significant value for its customers globally.