Deal Expands Firm’s Comprehensive Offerings Into IT Consulting

CHICAGO, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Erie Street, an independent firm that works with founders and management teams to achieve next-level growth, today announced the acquisition of Performance Improvement Partners, the country’s largest IT solutions company exclusively serving the private equity industry.

Since its founding in 2003, Performance Improvement Partners has grown its reputation for developing, implementing, and monitoring innovative yet pragmatic value-based technology solutions that manage risk, streamline operations, and create value for businesses. The company has served more than 230 private equity firms – including Advent International, Clearview Capital, Goldman Sachs & Co., High Road Capital Partners, Incline Equity Partners, and RFE Investment Partners – generating growth for their various portfolio companies.

The acquisition of Performance Improvement Partners further spans Erie Street’s offerings which include corporate advisory services in private equity as well as business services; go-to-market strategies that allow for the creation of new products, pricing, and brand narratives; in addition to its operational and managerial expertise.

“The value creation playbook that many founders, owners, and investors have historically leaned on is being rewritten by technology every day,” said Terry Graunke, Chairman & CEO of Erie Street. “With Performance Improvement Partners and the addition of its IT consulting services, Erie Street is creating an even more comprehensive offering as well as strengthening our ability to design and deliver growth in highly disrupted business environments.”

As part of the acquisition, Performance Improvement Partners will keep retain its name and operate as an Erie Street company. Founder John Bisack will retain his leadership role as President of Performance Improvement Partners, as well as become Managing Director of Erie Street’s expanding advisory business.

“Our goal is to improve day-to-day operations and increase the value of portfolio companies through our pragmatic approach to IT consulting,” said Bisack. “We are looking forward to being part of Erie Street and working together to provide the private equity industry the type of advisory services that allow for true growth and value creation.”

Investment bank CG Petsky Prunier, part of Canaccord Genuity, represented PIP in connection with the transaction. 

MEDIA CONTACT: 
Marielena Santana, DiGennaro Communications
marielena.santana@digennaro-usa.com

ABOUT ERIE STREET
A strategic and operational growth partner, Erie Street is a Chicago-based, independent advisory firm leveraging its operational heritage and entrepreneurial spirit to work with founders and management teams to achieve next-level growth. The firm brings corporate advisory, operational excellence, and go-to-market strategies to highly disrupted and changing business environments to mitigate risk, realize potential, and deliver exceptional value. Erie Street is led by Founder, Chairman and CEO Terry Graunke, a proven leader in the marketing services and digital communications industry. For more information, please visit eriestreet.com.

ABOUT PERFORMANCE IMPROVEMENT PARTNERS
Performance Improvement Partners is America's leading technology solutions company dealing exclusively within the Private Equity industry. Headquartered in Shelton, CT, with an infrastructure office in Stamford, CT, PIP offers a number of specialized practices geared to client need and represents over 230 of America's most respected Private Equity firms. On behalf of this client list, PIP has completed thousands of portfolio company engagements across a broad range of B2B and consumer categories. For more information, please visit pip-llc.com.