Renovus Capital Partners, a Wayne, Pa.-based investment firm that holds stakes in nearly two dozen companies that provide education and training services, has acquired a majority interest in KSM Consulting in Indianapolis.
KSM Consulting advises firms on issues related to technology and data analytics. It is part of Katz, Sapper & Miller, a certified public accounting firm in Indianapolis with a large number of transportation industry clients.
As a result of the change in ownership, KSM Consulting President Mark Caswell will take on additional duties as CEO, replacing Charlie Brandt, and with Katz, Sapper & Miller retaining a “significant minority ownership,” according to a statement released April 9.
Terms of the transaction were not disclosed.
However, KSM Consulting said it plans to immediately hire up to 30 new employees to expand its services in data analytics, technology and project management. The company was started in 2008 and recently opened a second office in Indianapolis.
“KSMC’s growth over the last 10 years is something we’re proud to be a part of,” said David Resnick, managing partner of Katz, Sapper & Miller. “The benefits and growth that this opportunity affords will allow KSM and KSMC to continue pursuing success together.”
Atif Gilani, a founding partner of Renovus Capital Partners, said he believes the business can continue to grow “in Indiana and beyond.”
“We look forward to investing in KSMC’s leadership team and employees,” he said.
Founded in 2010, Renovus has invested more than $500 million in 22 companies that provide technology services, educational content, classroom instruction, corporate training and human capital.
Among the companies in the Renovus portfolio are: Ariel Group, providing leadership and communication skills training for executives; Hillsboro Aero Academy and Phoenix East Aviation, training commercial airplane and helicopter pilots; and TPC Trainco, providing technical skills training for industrial workers.
Katz, Sapper & Miller was founded in 1942 and provides tax and accounting services to more than 100 freight carriers in North America. In 2006, the company launched KSM Transport Advisors to provide freight network engineering, management consulting and profit improvement services to trucking and logistics companies.
KSM Transport Advisors will remain part of Katz, Sapper & Miller and is not part of the KSM Consulting business.