Logicworks, a leading cloud automation and managed services provider, today announced that Pamplona Capital, together with Logicworks' management team and existing shareholders, has invested $135 million in the company. This investment follows a three year CAGR exceeding 90% for its cloud automation software business. One of the most highly credentialed Amazon Web Services (AWS) Premier Partners in the world, the company intends to invest this money in expanding its proprietary software platform, scaling its operations, entering international markets, and pursuing targeted strategic acquisitions. Seaport Capital will be selling its shares in Logicworks as part of the transaction.
'Logicworks has built an unmatched public cloud automation and management platform, serving a market projected to be one of the fastest growing segments in global IT,' said Darren Battistoni, Partner, Pamplona Capital Management. 'Having spoken to many of their customers, it's clear that Logicworks addresses a highly valued and urgent need- namely to automate and optimize public cloud deployments for compliant workloads.' Added Battistoni, 'And Logicworks has posted some of the strongest SaaS metrics we've ever seen across revenue growth, customer retention, and customer acquisition cost. We're thrilled to partner with the talented Logicworks management team to grow the business, scale their operations, and pursue this amazing market opportunity.'
Logicworks has deployed hundreds of cloud automation engagements for customers throughout the world, leveraging its automated software platform to make sense of and deliver business benefit from the extraordinary array of public cloud services now available. Maintaining many healthcare, financial services and commerce customers, the Logicworks platform rigidly enforces enterprise IT compliance, cost management, and security. Customer engagements typically include upfront assessment of technical, operational, and economic impacts of cloud adoption, and proceed through to fully managed infrastructure and CI/CD integration for automated code deployment pipelines.
'Companies across the globe have an insatiable desire to innovate faster by leveraging cloud technologies, but the talent and tooling required to make this happen is scarce and costly,' said Logicworks' President and CEO Kenneth Ziegler. 'Our new partnership with Pamplona allows Logicworks to make critical investments in innovation and scale, with the aim of helping customers across all phases of the cloud adoption lifecycle move faster and execute more effectively.'
Pursuant to Pamplona's investment, Mr. Battistoni has joined the company's Board of Directors. Logicworks is Pamplona's second investment from its new $1 billion, U.S. based private equity fund focused on growth equity and control investments in the technology, media, and telecommunications sectors. The fund is based in Boston, Massachusetts.
William Blair & Co. served as the exclusive financial advisor to Logicworks on this transaction.
About Logicworks
Logicworks is a leading cloud automation and managed services provider. As an AWS Premier Partner and a member of the AWS Managed Services Program, Logicworks has proven expertise in managing complex cloud infrastructures for enterprise clients in the healthcare, financial services, and commerce industries. Contact Logicworks at 212-625-5300 or visit www.logicworks.net.
About Pamplona Capital
Pamplona Capital Management is a London, New York and Boston based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona Capital Management, LLP manages over $10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Please see Pamplonafunds.com for further information.