Background

Based in Reading, Invenio is a global provider of SAP enterprise solutions and consultancy, focused on tax and revenue management for the public sector, and on media and entertainment, manufacturing and pharmaceutical domains in the private sector. Invenio is backed by BGF, who appointed FRP to take them through a refinancing and fund-raising process to acquire LSI Consulting. Based in the United States, LSI is a leading provider of SAP enterprise solutions to government, utility, healthcare and educational institutions.

Action

FRP’s Debt Advisory team was engaged by BGF to guide them through refinancing their existing debt facilities and raising additional funds to support the acquisition of LSI Consulting, as well as to provide working capital facilities. This involved presenting to potential lenders, structuring the transaction, securing credit approvals, negotiating all senior terms and banking legal documentation.

Outcome

The successful merger of Invenio and LSI Consulting brought together two well-established, high-growth SAP implementation and consultancy partners with compatible SAP-based solutions for the public and private sectors. The two firms have merged to form a global SAP enterprise with over 1,000 employees and offices across four continents. Invenio has a strong presence in Europe, the Middle East and Asia Pacific, while LSI has a strong position in the US and Canada. The newly merged organisation will act as the premier global SAP partner for public services.