Blue Horizon Software Acquires Majority Stake in Nirvana
CHICAGO, July 15 12, 2022 (GLOBE NEWSWIRE) — Nirvana Financial Solutions Inc. (“Nirvana” or the “Company”) and Blue Horizon Software Holdings (“Blue Horizon”), a Chicago-based SaaS platform focused on acquiring and operating high-quality, customer-focused software companies, and a portfolio company of Concentric Equity Partners (“CEP”), is pleased to announce the recapitalization of Nirvana Financial Solutions, Inc.
Blue Horizon’s investment enables Nirvana to provide liquidity to some of its current shareholders and accelerate its growth through the addition of sales and marketing resources, enhanced solution offerings and expanding the markets served.
Shams Karim, Founder and CEO of Nirvana, along with the rest of Nirvana’s management team, will remain with the company in their current roles and continue to lead the company’s expansion and growth. By choosing not to sell any stake in the business, Shams will continue to maintain a significant ownership position in Nirvana. Blue Horizon’s investment in Nirvana follows its previous investment in Synthesis Technology Corp., also a technology company serving asset managers and asset owners.
Nirvana is a financial technology and services provider that provides multi-asset class portfolio management, reporting and order management solutions to asset managers and asset owners. The company’s mission is to simplify the investment implementation and decision-making process by integrating front, middle and back-office workflows into one easy-to-use application. The Blue Horizon transaction provides Nirvana with a long-term partner to support the company’s continued growth and delivery of innovative products to investment managers, family offices, hedge funds and asset management clients.
Founder and CEO, Shams Karim, said, “We are delighted with our partnership with Blue Horizon. They have a long-term investment strategy and an impressive group of former software executives who will mentor and support Nirvana’s existing team. The capital injection will allow us to invest in sales and marketing, be more competitive and accelerate our investments in technology, services and people My team and I will continue to work hard, strive to delight our customers and earn the trust of the industry.
Jeff Galowich, CEO of Blue Horizon, said, “The asset management industry is plagued by complex workflows that create extraordinary business and operational challenges for asset managers on a daily basis. Nirvana has a powerful, comprehensive solution and a culture rooted in customer satisfaction that enables asset managers to meet these challenges. Through our partnership, we see an incredible opportunity to bring Nirvana’s industry-leading software, expertise and customer-focused culture to more financial institutions around the world. We look forward to partnering with Shams and his team.
CEP and Blue Horizon actively seek to partner with profitable software companies with stable recurring revenue streams, particularly those focused on the fintech sector. If you know of any SaaS businesses that are looking for a financial/strategic partner to enable future growth, please contact us.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle-market companies by providing capital and strategic advisory services to accelerate long-term value creation. Concentric’s approach is simple: support contractors and operators by providing the resources needed to achieve extraordinary results. The firm’s investment team is comprised of individuals with distinguished backgrounds as professional traders and investors in a variety of growth-oriented middle market companies.
Concentric Equity Partners is the direct investment arm of Financial Investments Corporation, a privately held asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has partnered with private companies for over 25 years.
For more information about Concentric Equity Partners, visit https://www.ficcep.com/.
About Blue Horizon:
Blue Horizon acquires and invests in profitable software companies with stable recurring revenue streams. The company was launched by Concentric Equity Partners, a Chicago-based family investment office, and a team of entrepreneurs and operators with many years of experience growing software businesses ranging from startups to public enterprises. The Blue Horizon platform combines long-term capital and industry expertise with an operating model that allows companies and their leaders to focus on growth and profitability while Blue Horizon manages back-office operations. Blue Horizon creates value from long-term profitable operating results in a family of businesses that achieve high customer and employee satisfaction, not from continually renewing businesses after a few years of ownership.
For more information about Blue Horizon, visit www.bluehorizonsoftware.com.
About Nirvana Financial Solutions:
Nirvana is a financial technology and services provider that provides multi-asset class portfolio management, reporting and order management solutions to asset managers and asset owners. Clients using Nirvana can consolidate disparate data across multiple counterparties, multiple accounts, and multiple securities in real time, from one easy-to-use platform
For more information about Nirvana Financial Solutions, visit https://www.nirvanasolutions.com/