EverService: Empowering Growth and Expansion in Tech-Enabled Business Solutions
Gracie Gottlieb | 14 September, 2023
In a strategic move to support organic growth and pursue mergers and acquisitions, Audax Strategic Capital ("ASC") and Sunstone Partners have made a structured equity investment in EverService. EverService, a Sunstone portfolio company specializing in tech-enabled business solutions, will benefit from the capital infusion to further enhance its offerings and expand its market reach.
Based in Phoenix, Arizona, EverService is a vertically focused provider of customer acquisition and engagement services. The company's comprehensive solution set includes website managed services, lead generation, inside sales, appointment scheduling, and customer and patient engagement services. These tailored offerings cater to small and mid-sized enterprises in the legal, home services, and healthcare sectors.
The partnership between Audax Strategic Capital and Sunstone Partners offers immense potential for EverService's growth trajectory. Gustavo Alberelli, Co-Founder and Managing Partner of Sunstone, emphasizes the significance of this collaboration in extending the buy-and-build runway for EverService. Leveraging the complementary capabilities of Audax, this investment opens up compelling growth opportunities for EverService.
As part of the capital infusion, EverService recently acquired iLawyer Marketing, a legal-focused digital marketing solutions company. This acquisition strengthens EverService's end-to-end solution set in a key vertical and marks the eighth acquisition since Sunstone's initial investment in 2018. The company's proven ability to source, integrate, and realize considerable growth from complementary add-ons exemplifies its potential for success.
Kumber Husain, a Managing Director at ASC, highlights how the investment in EverService aligns with Audax Strategic Capital's vision. EverService's impressive growth under Sunstone's guidance, coupled with its ability to execute on its expansion strategy, makes it an ideal investment. By tailoring their investment to EverService's specific needs, Audax aims to catalyze Sunstone's investment and support the pursuit of transformative initiatives.
EverService's value proposition lies in its ability to empower clients to drive bookings and revenue through specialized technology, training, and bespoke processes. By improving retention rates and enhancing conversion rates, EverService helps its clients achieve sustainable growth. Jeff Mosler, CEO of EverService, expresses gratitude for the continued support of Sunstone and welcomes Audax Strategic Capital as a value-added partner. The collective efforts and expertise of these partners will position EverService as a preferred solutions provider in the legal, home services, and healthcare markets.
Sunstone Partners, founded in 2015, is a growth-oriented private equity firm that invests in technology-enabled services and software businesses. With over $1.7 billion committed to its three funds, Sunstone Partners has been recognized as one of Inc. magazine's "Founder-Friendly Investors" multiple times. Their investment in EverService reflects their commitment to driving growth and success in their portfolio companies.
Audax Strategic Capital, headquartered in New York and London, acts as a flexible partner to private equity sponsors seeking tailored equity solutions to fuel continued growth in their portfolio companies. By providing capital solutions for add-on acquisitions and organic growth initiatives, Audax supports PE sponsors in maintaining control and ownership of performing assets while pursuing future growth opportunities.
EverService's global presence is marked by its comprehensive suite of tech-enabled business solutions. The company assists companies of all sizes in growing and scaling through digital marketing, website design and development, scheduling and booking services, 24/7 answering services, inbound and outbound sales, live virtual receptionists, client and patient intake, and IT services. EverService collaborates with leading brands such as Alert Communications, Blue Corona, Nexa Receptionists, Mid-State Communications, Client Chat Live, Mainline Telecommunications, Nexa Healthcare, RYNO Strategic Solutions, and iLawyer Marketing to provide end-to-end solutions for the legal, medical, home services, retail, and technology industries.
In conclusion, the partnership between Audax Strategic Capital and Sunstone Partners marks an exciting chapter in EverService's journey of growth and expansion. With a focus on organic growth and mergers and acquisitions, EverService is well-positioned to deliver specialized, tech-enabled business solutions to its clients in the legal, home services, and healthcare sectors.
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