Industry Related TransactionsGryphon Portfolio Company, Highmetric, Acquired NewRocket
Buyside Advisor to Gryphon Investors
7 Mile Advisors Advises Gryphon Investors On Fourth ServiceNow Acquisition
Gryphon portfolio company, Highmetric, the leading worldwide ServiceNow provider, bolsters human experience capability with addition of renowned service portal company, NewRocket.
CHARLOTTE, NC — Highmetric, a technology strategy, design, and operations provider and an Elite Partner of cloud computing platform ServiceNow, has acquired NewRocket, an industry leader in delivering world-class employee experiences on the ServiceNow platform. This acquisition brings NewRocket’s user-focused design and innovative solutions to Highmetric, complementing its existing digital workflow optimization capabilities. Highmetric is a portfolio company of Gryphon Investors (“Gryphon”), a leading middle-market private equity firm.
7 Mile Advisors acted as the exclusive buyside advisor to Gryphon on the transaction, marking 7 Mile’s fourth successful transaction as part of the Highmetric platform.
“7 Mile is grateful to continue our support of the Highmetric growth story. Gryphon is steadfast in their commitment to building the world’s largest ServiceNow platform and it has been our pleasure to work alongside their team,” said Leroy Davis, Partner at 7 Mile Advisors.
“7MA’s mandate with Gryphon focuses squarely on identifying the best of the best, and leveraging deep expertise around core capabilities to enhance the value that the Highmetric platform is able to deliver to its clients. With the acquisition of NewRocket, Gryphon has achieved this goal, yet again,” commented Tim Frye, Director at 7 Mile Advisors.
Based in San Diego, CA, NewRocket is recognized as the leader in user experience design within the ServiceNow ecosystem, driving user adoption through thoughtful and effective design of service portals, enterprise intranets, and native mobile experiences. NewRocket uses a design philosophy rooted in user empathy to build solutions that simplify processes and deliver digital experiences that improve the lives of employees worldwide. NewRocket’s talented team of designers, engineers, and client service experts serve global clients, including Fortune 100 companies across all industries and five continents.
Highmetric offers significant solutions in customer service, HR & employee, IT service management, IT operations management, governance, compliance & risk, and security operations, and serves customers across many industries, including the Financial Services, Technology, Industrials & Energy, and Public sectors. Both Highmetric and NewRocket were recently named to the Inc. 5000 2021 list of fastest-growing private companies in America.
Gabe Stephenson, Managing Director at Gryphon, said, “As the largest pure-play ServiceNow firm in the world, Highmetric has unique capabilities to help customers leverage the power of ServiceNow to optimize digital transformation workflows. We believe the acquisition of NewRocket further strengthens Highmetric’s differentiated market leadership position.”
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
