Acquisition by Private Equity Firm to Help Leverage High Growth Opportunities in a Market Projected to Cross $20 billion by 2020
SAN DIEGO–(BUSINESS WIRE)–BP Logix, provider of Low-Code BPM solutions for rapid digital application development, today announced that the company has been acquired by Finrock Growth Partners (Finrock), a private equity firm that acquires and operates businesses in the software sector. The acquisition expands BP Logix’s commitment to helping its clients accelerate the automation of their mission critical business processes.
The acquisition comes after more than two decades of BP Logix growth delivering high levels of product innovation and successful customer relationships. “BP Logix is experiencing exponential growth and we are delighted to provide our capital and operating expertise to help scale the business from a long-term perspective,” said Girish Pashilkar, managing partner at Finrock Growth Partners. “Their flagship Process Director platform is already highly regarded by customers and industry analysts. Our aim is to help BP Logix extend its leadership position while creating more industry-specific solutions.”
Finrock has appointed Girish Pashilkar, a seasoned executive with over 20 years’ experience in growing software and recurring service businesses, as the company’s new CEO. BP Logix co-founders Jay O’Brien and Joby O’Brien will continue on in key executive roles within the company and focus on enhancing the product and the technology platform.
Until recently, Girish was the CEO of Workplace Answers, LLC (WPA), a leading online compliance solutions business. Under Girish’s leadership, WPA featured in the Inc 500/5000 fastest growing businesses for 6 consecutive years. Before WPA, Girish was a senior executive with Infosys Technologies (NASDAQ: INFY), a leading global technology and consulting services firm. Earlier in his career Girish was at Arthur Andersen, where he advised Fortune 500 corporations undertaking process and technology transformation programs.
“Finrock has demonstrated its ability to acquire and integrate companies with great success, and its acquisition of BP Logix is an endorsement of our technology innovation and business performance,” said Jay O’Brien. “Since the beginning, our mission has been to provide truly ground-breaking technologies that provide real solutions to our customer base. Now, we can look forward to continued growth as we capitalize on new markets and directions with Finrock.”
About BP Logix
BP Logix Inc., headquartered near San Diego, pioneered predictive business process management (BPM) with its many patented innovations, empowering individuals and teams to rapidly develop, deploy, and enhance critical digital applications. The company’s flagship product, Process Director, is an AI-enabled, low-code/no-code intelligent automation platform.
BP Logix’s customers include leading corporations and public entities such as the City of Fort Worth, Leo Burnett USA, MultiPlan, and the University of Central Florida. The company is highly regarded by leading industry analysts and has received dozens of awards and recognitions, including KMWorld’s “Trend Setting Product of 2019” and the WfMC “Excellence in Business Transformation Award”, most recently in 2019. Process Director enables customers to rapidly build and enhance end-to-end, digital applications that deliver clear and measurable improvements in productivity, compliance, and customer engagement.
The BP Logix name and logo are the registered service and trademarks of BP Logix, Inc.
About Finrock Growth Partners
Finrock Growth Partners is a software focused private equity firm based in Austin, TX. Since 2009, Finrock has been investing in software businesses with a goal of helping them achieve category leadership. Finrock’s limited partners include successful entrepreneurs including several Ernst & Young Entrepreneur of the year winners, CEO’s of public companies and faculty at the Stanford Graduate School of Business. Finrock maintains a long-term investment horizon and has made ten portfolio investments since its founding. Rather than financial engineering, Finrock focuses on infusing growth capital and contributing operating expertise.