Bowstring Advises Solstice Mobile in its Acquisition by St Ives Group
April 10, 2015 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Chicago-based Solstice Consulting, LLC d/b/a Solstice Mobile (“Solstice”), in its recent acquisition by London-based St Ives Group plc (“St Ives”). The acquisition gives Solstice a platform to extend its operations internationally, while also providing a North American foundation for the expansion of St Ives’ digital capabilities.
Founded in 2001, Solstice advises Fortune 1000 organizations on the use of emerging technologies that optimize engagements with their employees, customers and partners. With offices in Chicago, New York and Buenos Aires, Solstice has experienced rapid growth in recent years, which has positioned it as one of the largest privately held, mobile-first digital consultancies in the U.S.
Solstice Mobile will continue to be managed from its current locations by its existing management team. J Schwan, CEO of Solstice Mobile, said, “We are very excited to have found the perfect home for Solstice. As mobile continues to affirm its role as the primary digital channel for consumers and employees, we are thrilled to have a platform to expand our services on a global level. Most importantly, St Ives shares our core values of using company culture as a competitive advantage.”
Matt Armitage, St Ives Group CEO, commented, “This acquisition further strengthens St Ives’ reputation and capabilities in digital and firmly extends our digital capabilities into mobile. Strategically, the deal supports the growth of the Group’s marketing services division, whilst expanding our presence and capabilities in the Americas.”
Tom Donahue, Managing Director at Bowstring Advisors, said, “Our IT services sector focus, combined with the opportunity to work with a premier brand, led to a competitive process and identification of the right partner for Solstice. The management team and St Ives Group share the same vision for the Company’s growth and continued dedication to its clients.”
The acquisition was effective March 16, 2015.
Our IT services sector focus, combined with the opportunity to work with a premier brand, led to a competitive process and identification of the right partner for Solstice. The management team and St Ives Group share the same vision for the Company’s growth and continued dedication to its clients.