TopBloc Sold to ASGN Incorporated by BV Investment Partners
Deal News | Feb 05, 2025 | BV Investment Partners
BV Investment Partners has announced a definitive agreement to sell TopBloc, a leading Workday consultancy, to ASGN Incorporated. TopBloc, founded in 2016 and based in Chicago, specializes in Workday deployment and management services, assisting enterprises across North America in optimizing their use of Workday's software solutions. With an impressive record of over 300 installations and a team of more than 500 consultants, TopBloc has positioned itself as a major partner in Workday's ecosystem. This acquisition will see TopBloc's team integrating into ASGN's Consulting Services division. This transaction underlines the ongoing demand for tech-enabled business services and is set to conclude in Q1 2025, pending regulatory approvals.
Sectors
- Tech-enabled Business Services
- Software and IT Services
- Private Equity
Geography
- North America – TopBloc serves enterprise customers across North America and BV Investment Partners operates from North America, making this the relevant geographical context.
- United States – As both TopBloc is headquartered in Chicago and the transaction involves entities operating primarily in the United States, this country is key to the article.
Industry
- Tech-enabled Business Services – TopBloc is a leading consultant in the tech-enabled business services sector, especially focusing on Workday installations and management, making this industry classification pertinent.
- Software and IT Services – TopBloc's involvement with Workday software deployment positions it firmly within the software and IT services industry, which is relevant to the scope of the transaction.
- Private Equity – BV Investment Partners, a private equity firm, is selling one of its portfolio companies, thus the private equity industry is central to the transaction discussed.
Financials
- $5.6 billion – Total amount invested by BV Investment Partners since its founding.
- $1.75 billion – Capital commitments for BV Investment Partners' 11th fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BV Investment Partners | Private Equity Firm / Seller | Company | BV Investment Partners is a private equity firm specializing in investments in the tech-enabled business services, software, and IT industries. |
| TopBloc | Target Company | Company | TopBloc is a consultancy specializing in Workday deployments headquartered in Chicago. |
| ASGN Incorporated | Buyer | Company | ASGN Incorporated is a professional services company acquiring TopBloc to enhance its consulting services. |
| Christopher Skinner | CEO of TopBloc | Person | Christopher Skinner is the CEO of TopBloc, responsible for its leadership and strategic direction. |
| Matt Kinsey | Managing Partner at BV Investment Partners | Person | Matt Kinsey is a Managing Partner at BV Investment Partners, overseeing investments and transactions. |
| Chris Tofalli Public Relations, LLC | Public Relations | Company | A PR firm likely responsible for managing communications regarding the transaction. |