APC Holdings Acquires Majority Interest in Sequential Technology International
CEO Insights team, Press Release
APC Holdings (APCH), an investment firm formed to acquire and scale Fortune 500 suppliers while creating positive social and economic impact for multiple stakeholders, announces the acquisition of Sequential Technology International (STI), an innovative leader in the software, consulting and BPO sectors.
The acquisition enables APCH to offer its Fortune 500 relationships a globally relevant business process outsourcing (BPO) platform, and also become one of the largest minority business enterprises (MBEs) in the United States. Consumers are increasingly shifting to online and mobile purchases. STI utilizes proprietary software to optimize multi-channel customer experiences. Its consulting and BPO capabilities enable Fortune 500 customers to align their go-to-market model with evolving consumer preferences, reduce process complexity for employees,and ultimately drive shareholder value.
"We are very excited to partner with the APCH team. APCH possesses a wide network of contacts with Fortune 500 companies that will serve as a growth catalyst for our business".
STI supports its software, consulting and BPO businesses through its global contact center footprint in the United States,El Salvador, India, and the Philippines.
"We are always looking for opportunities to catalyze an already solid platform with compelling investment attributes. Our diligence and conversations with STI's customers highlighted its unique global capabilities, high quality management team and talented employee base. STI simplifies the complex and does it with zest and entrepreneurial spirit," said Richard Powell, the co-founder of APCH and incoming Chairman of STI.
Kent Mathy, STI's President and CEO stated, "We are very excited to partner with the APCH team. APCH possesses a wide network of contacts with Fortune 500 companies that will serve as a growth catalyst for our business. The team has a proven track-record in the BPO sector and is exceptionally engaged and committed to the success of the management team, the employees and our customers. We look forward to creating an amazing next chapter in the STI story with our new partners."
Raymond James acted as the exclusive financial advisor to STI and Jones Day served as the company's legal advisor. APCH received legal counsel from Greenberg Traurig.