KSM Consulting, a technology services and data-analytics consultancy operating under the umbrella of Indianapolis-based accounting firm Katz Sapper & Miller, announced Tuesday that Philadelphia-based private equity firm Renovus Capital Partners has acquired a majority interest in the company.
Katz Sapper & Miller—the city's largest accounting firm—had owned 100 percent of KSM Consulting. The firm has retained a significant minority ownership in KSMC and a seat on the board of directors, company officials said.
Founded in 2008, KSM Consulting operates out of two offices—one on East 96th Street on the north side and the other downtown on Monument Circle.
KSM Consulting has 135 employees and said it plans to add 30 employees this year to support growth. Those employees will work out of the firm’s local offices. No layoffs are planned as a result of the acquisition, company officials said.
KSM Consulting has been awarded more than $27 million in Indiana state government contracts over its decade in business, according to public records. The company’s work with the state spans several agencies, from the Department of Workforce Development to the Indiana Office of Technology to the Family and Social Services Agency and the Department of Corrections.
As a result of the ownership change, President Mark Caswell has been promoted to CEO “to lead the organization into its new phase of growth,” the company said. Caswell replaces KSM partner Charlie Brandt, who will remain on the board.
No other management changes will be made, company officials said.
Caswell said the firm’s massive growth triggered the sale to Renovus.
KSMC has experienced incredible growth over the last 10 years,” Caswell told IBJ. “Recently, that growth has accelerated, and we anticipate that it will continue to do so. As we think about the next high-growth phase of KSMC, adding the support of Renovus Capital Partners will best serve our company, employees, and clients."
KSM Consulting joins Renovus’ portfolio of companies in a range of industries, including education, technology and human capital services.
“We feel very fortunate to have found an Indianapolis company with such a history of success and great potential for growth. We look forward to investing in KSMC’s leadership team and employees to grow the company’s influence in Indiana and beyond.” Atif Gilani, Renovus founding partner, said in a written statement.