P&M Corporate Finance (“PMCF”) is pleased to announce that it served as exclusive financial advisor to MIPRO Consulting (“MIPRO”) in its acquisition by Kastech Software Solutions Group (“Kastech”).
MIPRO is based in Milford, Michigan and was founded in 2005 to provide high quality customer service for organizations using the Oracle program, PeopleSoft. MIPRO invests the time to understand what success looks like for each individual customer and works to deliver value through optimizations, upgrades and implementations of the PeopleSoft ERP/Financials, Supply Chain, Human Capital and Asset Lifecycle Management solutions. Over the years, MIPRO has earned a reputation for integrity, honesty and always “doing the right thing.” Being recognized repeatedly as a 101 Best & Brightest Companies to Work For and as a Crain’s Cool Places to Work has enabled the Company to attract and retain top talent for its customers.
Kastech was incorporated in 2007 with a mission to serve as a strategic partner to organizations from various industry verticals and offer cost-effective, reliable, and high-quality IT solutions and services leveraging their experienced resources and thought leadership. Kastech’s founding members have years of experience in the fields of strategic IT consulting, program management, implementation, service delivery and value added tools & products. Headquartered in Houston, TX, Kastech currently has a physical presence in 6 countries, and services clients in 15 countries. Kastech takes pride in working with Fortune 500 companies and mid-sized to large-scale public sector agencies in setting up and managing their enterprise applications, including ERP systems.
“We have known MIPRO for more than a decade as one of the industry leaders in providing niche services in the Oracle PeopleSoft space” said Suresh Katamreddy, Vice President and COO of Kastech. “The acquisition of MIPRO is a strategic move for us as Kastech has been focused on PeopleSoft practice from its inception as well and with Kastech’s diverse portfolio of products, services and the global presence, this partnership will help both organizations expand their footprint and provide best in class services to both customers and employees as well.”
Jim Prokes, MIPRO former President / CEO added “Selecting PMCF as our investment banker was one of the best decisions we have made for MIPRO. Matt and his team provided highly personalized, comprehensive service and expertise at all stages of the process and led a successful transaction from start to finish. They delivered an outcome that positions MIPRO for growth and success alongside our new partner and secured the Company’s legacy.”
The transaction closed in September 2023. Varnum LLP served as legal advisor to MIPRO. Coats Rose served as legal advisor to Kastech.
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on plastics & packaging, business & technology services, industrials, healthcare, and consumer & retail industries.
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