Bluewave Acquires Another Technology Advisor Firm, Bolsters Retail ExpertiseBluewave Acquires Another Technology Advisor Firm, Bolsters Retail Expertise
Compass Solutions' professional services acumen appears to align with Bluewave's vision for life cycle management.
December 20, 2022
Compass, headquartered in Cuyahoga Falls, Ohio, brings expertise in large retail and manufacturing customers to Bluewave. It also expand Bluewave’s client base to more than 4,000.
Moreover, all indications are that both entities emphasize deeper technology life cycle management than the average agent.
Bluewave’s Seth Penland
“Clients are looking for a strategic partner that can consistently deliver results that optimize client outcomes, and [Compass founder and president] Marty [Lyman] and the Compass Solutions team have built long-term relationships over the years doing just that,” said Seth Penland, founder and CEO of Bluewave. “Their ability to actively manage all phases in the customer technology life cycle is a complementary fit to Bluewave. And their unique expertise in multilocation retail solutions will strengthen the breadth of our combined services, creating even greater opportunities for us to support clients.”
And for Lyman, joining forces with Bluewave helps his firm evolve to meet customer needs.
“We believe the model for success is exactly what Bluewave has built and will continue to capitalize on. Their experienced management team has built and scaled organizations successfully. And their core values, a keen focus on customer life cycle success, and a scalable suite of service offerings make this next phase of growth the right fit for us,” said Lyman, who will join Bluewave as an ambassador and equity partner.
That role, Bluewave explained earlier this year, doesn’t engage with the company on a day-to-day basis as its managing partners do. Bluewave in a statement said Lyman will “continue focus on client success and Bluewave’s growth.”
In addition, Lyman’s team will join Bluewave.
Compass used Sampford Advisors as its exclusive investment banking advisor. It did not reveal the financial terms of the transaction.
Lyman founded Compass in 2001 after serving in sales positions at Sprint, AirTouch and CoreComm. The 1989 University of Akron graduate is described as leader in the Akron community.
Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.
The company describes its customer engagement model as consisting of seven steps, ranging from discovery to life cycle management. The firm on its website touts its professional services, which include implementation management. The company states that its hands-on approach has led to an average customer relationship of more than 10 years.
The company’s five technology categories are contact center, cybersecurity, collaboration/voice, cloud and connectivity.
Moreover, the firm has focused on nationwide retailers that operate 50 or locations.
The deal marks Bluewave’s fourth in the last quarter. The technology advisor and lifecycle management firm has used a $75 million investment from Columbia Capital to fuel M&A as well as organic growth platform. Penland has shared a vision of an agency that unites all of its acquired parties under a single process and philosophy, rather than than acquiring for financial arbitrage.
Bluewave last week announced the acquisition of Helm Partners. That deal brought one of the channel’s most successful cloud communications advisors and a skilled enterprise consultancy practice into the fold.
Other recent acquisitions include iSymplify and Virtual Telecomm.
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