BrightView Holdings' BV Partners Sells TopBloc to ASGN, Enhancing Consulting Services
- BV Investment Partners is selling TopBloc, a leading Workday consultancy, to ASGN Incorporated, enhancing ASGN's consulting capabilities.
- TopBloc has successfully executed over 300 Workday projects, positioning itself as a key player in the consultancy sector.
- The acquisition aligns with ASGN’s goals to expand its consulting services, particularly in enterprise resource planning and digital transformation.
Strategic Acquisition Enhances ASGN's Consulting Capabilities
BV Investment Partners (BV) announces a significant development in the tech-enabled business services sector with the signing of a definitive agreement to sell TopBloc, a prominent Workday consultancy, to ASGN Incorporated. This transaction, set to close in the first quarter of 2025, marks a pivotal move for both companies, highlighting the growing importance of Workday implementation and consultancy services in today’s business landscape. Established in 2016 and headquartered in Chicago, TopBloc has emerged as a leader in facilitating Workday installations, successfully executing over 300 projects in just five years. The firm caters to a diverse clientele, primarily engaging medium and large enterprises across North America, offering tailored services in human capital, financial, and payroll management.
TopBloc’s CEO, Christopher Skinner, underscores the firm’s commitment to helping enterprises fully leverage Workday’s capabilities. The consultancy’s focus on providing comprehensive services across six industry verticals positions it as a preferred partner for organizations looking to maximize their investment in Workday’s technology. With over 500 consultants on its team, TopBloc brings extensive expertise and experience to ASGN, further enhancing the latter's consulting service offerings. This acquisition aligns with ASGN’s strategic goals to broaden its consulting capabilities and deliver enhanced value to its clients, particularly in the realm of enterprise resource planning and digital transformation.
BV Investment Partners, which has invested around $5.6 billion since its inception in 1983, recognizes the strategic fit of TopBloc within ASGN’s portfolio. Matt Kinsey, Managing Partner at BV, commends TopBloc’s impressive growth trajectory since their investment in 2020, noting the firm’s successful scaling of services and enhancement of technology tools. The sale represents a culmination of TopBloc’s efforts to solidify its market position, and it provides BV with an opportunity to realize a return on its investment while allowing TopBloc to further expand under ASGN’s umbrella. The transaction is subject to standard closing conditions, including approval from the Hart-Scott-Rodino Antitrust Improvements Act.
In addition to its acquisition activities, BV Investment Partners continues to demonstrate its commitment to the tech-enabled business services sector. The firm recently closed its 11th fund in September 2023, raising $1.75 billion in capital commitments, which positions it well for future investments. Furthermore, BV’s recognition as a Founder-Friendly Investor by Inc. magazine in 2024 reflects its dedication to supporting growth-oriented businesses, showcasing its strategic vision in the evolving market landscape.
For more details about TopBloc and BV Investment Partners, interested parties can visit their respective websites.