Inverness Graham Announces the Sale of Swipeclock
20 Mayo 2024 - 9:13AM
Business Wire
Inverness Graham (“IGI”), a Philadelphia based buyout firm that
acquires innovative companies where technology is transforming
traditional industry, is pleased to announce the sale of
Swipeclock, a leading provider of cloud-based integrated human
resource management software solutions, to IRIS Software Group.
Inverness Graham established the South Jordan, UT based Swipeclock
platform in June 2017 as a SaaS-based point solution focused on
time & attendance, and through two strategic acquisitions as
well as several organic initiatives, IGI transformed the business
into a leading, fully integrated human resource management
solutions provider, focused on helping small and medium sized
businesses onboard and manage their workforces.
“Swipeclock’s transformation during Inverness Graham’s ownership
is a testament to our Strategic Platform Build approach to scaling
assets into businesses of enduring value,” stated Trey Sykes,
Managing Principal of Inverness Graham. “Leveraging our deep
operational resources, and previous experience in software and
tech-enabled services, we pulled key levers in the business that
drove substantial value creation and resulted in robust top and
bottom-line growth, doubling revenue and tripling EBITDA.”
Coleman Barney, Chief Executive Officer of Swipeclock, stated,
“In partnership with Inverness Graham, we have been able to invest
in key areas of the business – such as building-out our management
team, augmenting our go-to-market approach through channel partners
with a direct-to-end market capability and expanding our offering
through two strategic add-ons – to drive accelerated growth and
create an end-to-end human resource platform. We are proud of what
we have accomplished with Inverness Graham and look forward to the
next phase of our journey.”
Terms of the transaction were not disclosed.
Piper Sandler acted as exclusive financial advisor, and Paul
Hastings LLP served as legal advisor to Swipeclock.
About Inverness Graham Investments
Inverness Graham is a Philadelphia based buyout firm that
acquires innovative companies where technology is transforming
traditional industry. The firm’s Flagship strategy focuses on
high-growth businesses in Healthcare, Tech-Enabled Services /
Software and Advanced Manufacturing. The firm’s Green Light
strategy targets tech-enabled businesses where Environmental
Sustainability is a key driver of accelerating growth. Inverness
Graham executes a differentiated, repeatable model for value
creation through its proprietary Strategic Platform Build approach.
Founded by senior executives of the Graham Group, the firm builds
upon a 60-year legacy of operational excellence, bringing
substantial value creation resources and an innovative mindset to
support its portfolio company partners.
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Wilson Tong (wtong@invernessgraham.com) Phone:
610-722-0300