Milwaukee-based investment bank Franklin Place Capital has completed its first transaction, advising CirrusOne LLC in its sale to Outbox Systems Inc. The transaction closed Feb. 5 for an undisclosed price.
San Francisco-based CirrusOne provides solutions for complex CPQ (cost price quote) and billing applications. It also has offices in Chicago and Georgia. It has about 40 employees.
“This will be fifth acquisition this company’s made in the last two years,” said Steve Mayer, founder and managing partner of Franklin Place. “I don’t think there’s going to be any headcount reduction.”
Sandy, Utah-based Outbox Systems (trade name Simplus) also specializes in CPQ, particularly in Salesforce. It has offices in 10 U.S. cities, and the Phillipines. It has about 150 employees.
The acquisition will provide added expertise in Oracle, as well as a broader customer base and a consultant training program.
“(Cirrus) had Fortune 500 customers that the buyer did not have, as well as some what I would call consulting type intellectual property called PS Principals, which is really guidance on how to train and acclimate and bring consultants up to speed very quickly in an organizational setting,” Mayer said.
Franklin Place Capital was founded in April 2017 by Steve Mayer and his son, Christopher Mayer.
“I had the pleasure to work with Steve and Chris to help us navigate the acquisition of our company,” said John Pora, chief operations officer at CirrusOne. “As first-time entrepreneurs, it was critical that we had strong guidance to ensure we were successful. I cannot thank Steve enough for keeping us on task, organizing the M&A process, providing exceptional guidance and getting us to the close.”
