KSMC’s acquisition and new CEO affirm company’s belief in Indy
Indianapolis-based KSM Consulting (KSMC) recently announced that Philadelphia-based private equity firm Renovus Capital Partners has acquired a majority interest in the company. The acquisition follows a strong history of growth for KSMC—over 500% in the past five years. That growth continues to accelerate, with 50% growth in the last year alone. Indianapolis accounting firm Katz, Sapper & Miller will retain a significant minority ownership in KSMC and a seat on the board of directors.
As part of this acquisition deal, KSMC’s president Mark Caswell was promoted to CEO. He’ll be retaining many of his current duties and will be overseeing the plans for the company’s continued upward trajectory.
More than 120 people are part of KSMC’s consulting workforce, plying their trades in many industries throughout Indiana, from construction and manufacturing to healthcare and government. When TechPoint last spoke with Mark in September 2018, the company was celebrating the opening of its second Indianapolis office to accommodate its fast-expanding team. KSMC has been operating within Indiana for 10 years and has experienced significant growth over that time; however, in the past few years, that multiple has skyrocketed.
Mark believes the company’s growth figures are not anomalous, but rather indicative of broader opportunities in the company’s future. “Through some of the amazing employees we have, we’ve solved problems and tackled things here in Indiana that are really ahead of a lot of the rest of the nation,” he said. “So we see opportunities to take some of the work we’ve done here to other states, to the federal level, to businesses and other municipalities across the country.”
KSMC joins Renovus’ national portfolio of companies in industries including education, technology and human capital services. Along with the additional capital Renovus is providing, KSMC will also gain access to a highly qualified and experienced team. With national ambitions in mind, KSMC can operationalize Renovus’ knowledge about how to break into national markets and then prepare for the growth that enables. “They’ve seen it and gone through it all before, and they can help us get through a lot of the barriers,” said Mark. “They provide a tremendous amount of sincere and thoughtful connections and partnerships.”
Being in the Indianapolis market and within the burgeoning tech community was an intentional decision made by KSMC and one they’ll continue to stand behind post-acquisition. The opportunities in Indy have helped unlock success for both the company and its clients. “Central Indiana is amazing: we have a great economy, great governmental leadership and great business leadership,” said Mark. “It spans everything: the education community, nonprofits, other businesses. This is truly a great ecosystem. And that helps us all be successful together.”
The company also announced it plans to hire up to 30 new employees into its Indianapolis headquarters on Monument Circle. The open positions include roles in data analytics, technology, management consulting roles such as project management and process improvement, and organizational health, all of which represent the increased demand for data services from KSMC’s clients. “We see growth across the whole business, and we’re looking for people across all those areas and thinking toward the future,” said Mark.
Thinking ahead, KSMC’s future is firmly in Indy. Accompanying his gratitude for the many clients who’ve enabled the company’s growth so far, Mark believes there’s even more to be accomplished in Indy as a community. “As an ecosystem, we have an incredible amount to offer here in Indianapolis to the rest of the nation,” said Mark. “I think that the more we partner with each other, and help each other, the better we’ll all be. We are this phenomenal city on purpose. And we will continue to be a phenomenal city if we continue to work with each other and with purpose.”