“Ommid shares Lotus’ passion for helping technology companies reach their goals," said Christian Mack, Managing Director of Lotus Innovations. "We're confident that his leadership will help us build value for our shareholders and our portfolio companies."
IRVINE, CA (PRWEB) March 29, 2016
Orange County private equity firm Lotus Innovations announced today the addition of Mr. Ommid Bavarian to its executive team as Chief Financial Officer. Ommid joins Lotus as the firm continues its drive into the private equity market with a highly successful Fund I, and a tripling of its soon-to-close Fund II. The addition of Mr. Bavarian, who brings a diverse mix of operational, technical and strategic accounting skills to the role, will help Lotus continue to acquire, grow, and exit undervalued software and services companies.
Christian Mack, Managing Director of Lotus Innovations, is enthusiastic about the addition of Ommid to the team. “Ommid shares Lotus’ passion for helping technology companies reach their goals. Not only that, he is both a creative and strategic force in the finance world. We are confident that his leadership will help Lotus build value for our shareholders and our portfolio companies.”
Mr. Bavarian joins Lotus with well over a decade of direct experience in operational, technical, and strategic accounting culled from Fortune 500 firms in various Accounting and Finance positions such as Dover Corporation, Raytheon, and Amcor; as well as more than seven years of Public Accounting experience most recently with Ernst & Young. His ability to establish robust operational procedures aligned with growth objectives will serve him well in his new role with Lotus as the firm prepares for a new round of acquisitions in 2016.
“I am extremely excited to join Lotus Innovations as the new CFO,” said Ommid. “The firm’s team of investment bankers, technology industry veterans, and business services professionals combined with a culture of teamwork and professionalism make it a dynamic environment I am proud to be a part of. I’m looking forward to lending my unique perspective to the team as we look to building our portfolio in the coming months.”
ABOUT LOTUS INNOVATIONS
The Lotus Innovations Fund, located in Irvine, California, is a private equity fund focused on transforming Enterprise IT Professional Services companies into SaaS-based companies. By operationalizing a repeatable process with Lotus Innovations’ proprietary methodology and embedded management, the fund creates a new paradigm that accelerates growth and valuations.