Equiteq advises Salesforce consulting firm, System Partners, on its sale to DXC Technology in Australia

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System Partners, a Platinum Salesforce Partner, had established itself as one of the leading Salesforce implementation consultants. The firm had grown rapidly but required resources and a larger client base to continue its development. Equiteq were appointed as sole M&A advisor to System Partners. A full sale process was conducted, with a streamlined preparation phase to match the pace of the market. After raising significant interest, DXC Technologies was chosen as the most suitable partner. An intensive due diligence process was then conducted to meet the announcement deadline at Dreamforce 18.

Equiteq provided us with invaluable advice and support throughout the process, achieving an outcome that achieves our initial goals. The presence of their team on our side was much appreciated considering the scale and speed of the transaction.

Barret Cunningham, Maarten Baaij, Sai Lavu Founders, System Partners

The client's situation

System Partners, one of the few Platinum Salesforce Partners in Australia, had established itself as a leading Salesforce implementation consultancy. The business had grown rapidly, and the shareholders had achieved their goals in the business after 10 successful years. The firm was now at a stage where the resources and client base of a larger player were needed to continue the business’s rapid expansion.

Our approach

Equiteq conducted a streamlined preparation phase in accordance with the nature of the business and the level of activity in the market. After receiving significant interest from potential buyers, the final decision came down to strategic and cultural fit. 

An intensive due diligence process was conducted, where Equiteq managed the information flow to reduce the shareholders’ and management team’s additional workload as much as possible.

Shareholder exit goals & deal rationale between buyer & seller 

After 10 years of growing the business, and having received several unsolicited approaches, the three shareholders decided to commit to a full sale process to administer their liquidity event.

For System Partners, joining the DXC family provides strategic support and enhanced capabilities that benefit the team, their partners and their clients.

The acquisition of System Partners builds on DXC’s digital transformation strategy and cloud-first focus. With more than 100 Australia-based Salesforce certified experts, the addition of System Partners will also offer DXC a comprehensive portfolio across market-leading SaaS platforms.

How did Equiteq deliver value to the client?

Equiteq acted as the trusted advisor to System Partners, providing strategic guidance and deal support from the inception of the process.

  • During the preparation phase, the focus was to understand and align each of the shareholders’ personal and business goals
  • Throughout the management presentation and offer stages, we used our market knowledge and expertise to advise on the advantages and disadvantages of each offer and potential buyer
  • Once an offer had been accepted, we mobilized our response to the due diligence team of the much larger buyer. The difficulty of this task was compounded by the accelerated deal timeline
  • Despite the constant pressure that was placed on System Partners and its shareholders to meet each of their strategic decisions and operational deadlines, a successful transaction outcome was achieved

 

 Read the press release on this deal here.