Spire Capital Announces Sale of Holding Company, Advocate Networks, to Accenture


NEW YORK, June 9, 2022 /PRNewswire/ — Spire Capital Partners (“Spire Capital” or “Spire”), a leading private equity firm specializing in investments in companies in the business services, media, communications and technology-based education, announced that it has completed the sale of a majority stake in Advocate Networks, LLC (“Advocate” or the “Company”), a leading technology business management (“TBM”) and consulting services, to Accenture. Financial terms were not disclosed.

Advocate provides technology-enabled managed services, IT expense management services, and consulting services to enterprise clients. During the partnership with Spire, Advocate has shown strong organic growth by rapidly expanding its customer base, developing exceptional solutions and providing exceptional services to its clients.

Tim Sage, Scott Fogle and their team have led Advocate to achieve extraordinary growth and operational excellence that have positioned the company as a leader in the TBM services industry,” said David Schaible, Partner of Spire Capital. “The entire Advocate team has contributed to its success; we are proud of their accomplishments and look forward to seeing Advocate accelerate its market position within Accenture. It has been an incredible partnership and they are leading the adoption of TBM services in the broader technology market. We wish them continued success as they continue to meet the rapidly changing needs of the technology ecosystem.”

“We are extremely proud of the company’s results during our partnership with Spire,” commented Tim Sage and Scott Fogle, co-founders and co-CEO of Advocate. “The Spire team has believed in our vision and have been instrumental in providing strategic support to help us achieve our goals. We appreciate all of our customers, partners, team members and Spire’s efforts and contributions to enable the success of our business. The Spire team were great partners in every aspect and their partnership has allowed us to take this next step for the Company.” Tim Sage and Scott Fogle will join Accenture alongside his team members to further the adoption of TBM globally.

Eisner served as legal counsel to Spire Capital and Advocate.

About Spire Capital Partners

Spire Capital Partners (https://spirecapital.com/) is an active and experienced private equity firm focused on investing in small companies in the business services, media, communications and education sectors based on technology. Spire Capital Partners was founded on the principle of partnering with management teams and founders to help drive the next stage of growth for their businesses. Spire Capital Partners professionals have a broad range of past operating, investing and advisory experience that they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital Partners is a New Yorkis a registered investment adviser with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

About Advocate Networks

Founded in 2001, Advocate (https://advocateinsiders.com/), the premier TBM services company, provides technology enterprise management (“TBM”) services to enterprises seeking to optimize their technology strategy and infrastructure. Advocate is headquartered at Atlanta, Georgia. Follow Advocate on LinkedIn (https://www.linkedin.com/company/advocate/), Twitter (https://twitter.com/advocateinsider), and Facebook (https://www.facebook.com/AdvocateInsiders/).

SOURCE Spire Capital Partners


About Author

Comments are closed.