BV Investment Partners Sells TopBloc to ASGN Incorporated
BV Investment Partners (BV), a well-known private equity firm focusing on tech-enabled business services, announced a significant move today. They have reached a definitive agreement for the sale of TopBloc, a notable Workday consultancy, to ASGN Incorporated (NYSE: ASGN).
TopBloc: A Leader in Workday Consultancy
Founded in 2016, TopBloc has established itself as a leader in providing Workday deployment services. Their expertise extends across various domains, including human capital management, financial management, and payroll management. Over the past five years, the company has achieved over 300 Workday installations, helping medium and large businesses optimize their use of Workday's innovative solutions.
Growing Demand for Workday Services
TopBloc has gained a reputation as a certified Workday Services Partner, catering to clients in multiple industries. With a team of more than 500 experienced consultants, they are well equipped to enhance the performance of enterprises through effective Workday implementations. The increasing reliance on Workday's critical solutions for growth and automation signifies a rising demand for services like those provided by TopBloc.
Insights from TopBloc Leadership
Christopher Skinner, the Chief Executive Officer of TopBloc, expressed his satisfaction with the growth achieved alongside BV. He stated, "Our collaboration has enabled thousands of enterprises to maximize the benefits of the Workday platform, ensuring effective installations and continual optimization." This partnership has positioned TopBloc to take advantage of the growing interest in Workday solutions.
Looking Ahead
Matt Kinsey, Managing Partner at BV Investment Partners, praised TopBloc's journey since their investment in 2020. He noted the significant improvements in TopBloc's technology and service offerings, emphasizing its importance within Workday's ecosystem. "TopBloc has found a strong home as part of ASGN," he remarked, highlighting the decision's strategic value.
Transaction Details and Future Prospects
The deal, which is contingent on the Hart-Scott-Rodino (HSR) process and customary closing conditions, is expected to conclude in the first quarter of 2025. This integration of TopBloc into ASGN signifies an expansion of ASGN's Consulting Services division, promising opportunities for growth and enhanced service delivery.
About BV Investment Partners
Since its inception in 1983, BV Investment Partners has been a significant player in the private equity landscape of North America. The firm has invested approximately $5.6 billion, with a focus on tech-enabled sectors. Currently investing from its 11th private equity fund, BV closed this fund in September 2023 with $1.75 billion in pledged capital. Recognized in Inc. magazine's 2024 list of Founder-Friendly Investors, BV's commitment to fostering growth in its portfolio companies is evident.
Contact Information
For further information, reach out to Chris Tofalli at Chris Tofalli Public Relations, LLC, via phone at 914-834-4334.
Frequently Asked Questions
What is the significance of the sale of TopBloc to ASGN?
This sale represents a strategic move to enhance ASGN's Consulting Services and strengthen its position in the Workday solutions market.
How has TopBloc performed since its founding?
Since its inception in 2016, TopBloc has successfully managed over 300 Workday installations, gaining a strong foothold in the consultancy space.
Who is the CEO of TopBloc?
Christopher Skinner serves as the CEO of TopBloc and has been instrumental in its growth and success in the Workday consultancy arena.
What does BV Investment Partners focus on?
BV Investment Partners primarily invests in tech-enabled business services, software, and IT services sectors, targeting high-growth opportunities.
When is the expected closure date for the TopBloc acquisition?
The acquisition is anticipated to close during the first quarter of 2025, pending regulatory approvals and customary conditions.
