SolomonEdwards Receives Significant Growth Capital Investment from Renovus Capital Partners
SolomonEdwards Group, LLC (SolomonEdwards), a national professional services firm, today announced that it has received a significant investment from Renovus Capital Partners (Renovus). The capital injection follows a period of record growth for SolomonEdwards, which continues to drive expansion. SolomonEdwards will use the capital to make additional investments in its team and delivery capabilities, and accelerate its planned expansion as a platform company.
Founded in 1999 by CEO Ed Baumstein, SolomonEdwards is a national leader in strategy execution. With expertise and experience, SolomonEdwards provides solutions for complex situations delivered by exceptional people in the areas of accounting and finance, banking and financial services, business transformation, governance and regulatory compliance, and transactional and regulatory advisory services.
“Being a platform company for Renovus is both a privilege and an honor,” said Ed Baumstein, Founder, President and CEO of SolomonEdwards. “We are grateful for the trust in our past and excited for what we can build together in the future.”
“I believe ‘who’ you bring to your business is having a common vision, strong cultural fit and business benefits for all parties involved. I am extremely confident that SolomonEdwards and Renovus align on all three areas and are also focused on contributing SolomonEdwards will immediately benefit from Renovus Capital’s investment with the additional resources to help grow the business,” said Baumstein.
Jesse Serveti, Founding Partner of Renovus Capital Partners, notes that “We are delighted to partner with SolomonEdwards’ management team to strengthen their market leadership position. Ed and his team have done a great job growing the business so far and we’re excited to help them grow the SolomonEdwards platform further. They have exceptional leadership, infrastructure and processes. We believe this platform offers substantial opportunities to grow the business organically and through the acquisition of new service areas and new geographic markets.”
“We invested in SolomonEdwards because of its strong track record of success in solving critical challenges for its clients. SolomonEdwards’ differentiated services, exceptional relationships and customer service mentality are unmatched in the space, and we are delighted to be their growth partner,” said Lee Minkoff, Principal at Renovus.
About Solomon Edwards
SolomonEdwards is a national professional services firm focused on strategy execution. Providing exceptional people for complex situations, we provide subject matter expertise, apply proven project delivery models and design custom solutions. We focus on the areas of accounting and finance, business transformation, governance and regulatory compliance, and transaction and regulatory advisory services. For more information, please visit www.SolomonEdwards.com.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is an investment firm specializing in the knowledge and talent industries. Renovus, based in the Philadelphia area, manages over $1 billion across multiple investment vehicles. The company’s current portfolio includes more than 20 US companies specializing in education and training, B2B healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its industry expertise and access to debt and equity capital to drive operational improvements, pursue add-on acquisitions and oversee strategic growth initiatives . More information can be found at www.renovuscapital.com.