ATLANTA–(BUSINESS WIRE)–Atlanta-based group purchasing organization Procurement Advisors, LLC
(“PA”) today announced that it has received a significant growth
investment from New York-based private equity firm Bregal Sagemount. PA
is the leading technology and data-enabled group purchasing organization
(“GPO”) focused on the maintenance, repair, and operating supplies
(“MRO”) market. As a part of the transaction, PA founders Suja Katarya
and Keith Brower will continue to retain a significant stake in the
business.
“We are very excited to bring in the Sagemount team as a strategic and
financial partner,” commented Suja Katarya, CEO and Managing Partner at
PA. “We have a tremendously exciting future ahead of us as we grow our
membership base, strengthen our technology and processes, and expand
into new product categories to drive maximum value for our members. The
investment from Sagemount will allow us to further accelerate our
innovations in the MRO space.”
“MRO can often be an overlooked part of a company’s indirect spend,
which creates a massive opportunity to drive value,” said Gene Yoon,
Managing Partner at Bregal Sagemount. “We invested in Procurement
Advisors because its member-centric, data-driven solution represents the
market leading approach to effectively manage MRO spend.” Pavan
Tripathi, Principal at Bregal Sagemount, added, “PA’s unique combination
of purchasing power, focus on driving compliance, and constant evolution
of pricing and product enables the company to manage a previously
unmanageable category.”
Terms of the investment were not disclosed. Sagemount’s investment was
led by Gene Yoon, Pavan Tripathi, Arjun Mehta, Gerald Castaldo and
Connor Pams. Kirkland & Ellis provided legal counsel to Procurement
Advisors. Goodwin Procter provided legal counsel to Bregal Sagemount.
About Procurement Advisors
Procurement Advisors is an
Atlanta-based group purchasing organization that specializes in the
sourcing of maintenance, repair, and operating supplies and corrugated
materials for more than 500 independent and private equity-affiliated
companies in over 11,000 locations globally. The Company works closely
with its distributor base to negotiate and optimize pricing across over
4 million SKUs for its participating members. For additional information
on its leading MRO purchasing solution, please contact Procurement
Advisors directly. Call +1.404.902.5373, email [email protected],
or visit www.procurementadvisors.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused
private capital firm with over $2 billion of committed capital. The firm
provides flexible capital and strategic assistance to market-leading
companies in high-growth sectors across a wide variety of transaction
situations. Bregal Sagemount invests $40 million to $200 million per
transaction into targeted sectors including software, digital
infrastructure, healthcare IT / services, business and consumer
services, and financial technology / specialty finance. For more
information, please visit www.sagemount.com.
Contacts
Phil Nunes
BackBay Communications
[email protected]
(617)
391-0792
