McLean, VA (PRWEB) May 01, 2014
Capstone Strategic, Inc., a leading consulting firm specializing in mergers and acquisitions, announced today that South Carolina Financial Solutions (SCFS) has acquired Innova Plan Strategies (Innova).
SCFS is a credit union service organization owned by South Carolina Federal Credit Union (South Carolina Federal) located in Charleston, SC. Innova offers comprehensive employee benefit solutions and was located in Charlotte, NC. As experts in privately held not-for-sale acquisitions, Capstone advised SCFS on structuring the deal to the mutual benefit of SCFS and Innova. Capstone’s position as a third-party advisor helped accelerate the negotiation process and facilitate a successful transaction.
The new acquisition is part of SCFS’s strategy to expand its benefit solutions business by providing comprehensive benefit packages to credit unions and other business entities. Innova has been rebranded as Innovatus Benefit Solutions, LLC and operates as a subsidiary of SCFS, with the former owner of Innova, Jim Fede, as President.
“Capstone was thorough and approached the entire process with a high level of professionalism,” said Jim Fede.
“Capstone helped us thoroughly evaluate this purchase opportunity," said Bonnie Ciuffo, President of South Carolina Financial Solutions. "The approach was not just about the financials but the cultural fit with our organization. When we are ready to consider other purchase opportunities, Capstone will be the first company we call.”
“Given SCFS and Innova’s existing partnership, it was essential to build upon their joint successes while protecting their relationship when structuring the transaction,” said Capstone Managing Director John Dearing. “As a result of the acquisition, SCFS now has the key team members and expertise in-house to expand exponentially in their targeted benefits growth area. We are happy to see SCFS and Innova’s partnership continue and look forward to working with SCFS in the future.”
About Capstone Strategic, Inc.
Capstone is a consulting firm located outside of Washington, DC that specializes in growth strategies, primarily Mergers & Acquisitions. Founded in 1995 by CEO David Braun, Capstone has facilitated over $1 billion of successful transactions in a wide variety of manufacturing and service industries. Capstone utilizes a proprietary process to provide tailored services to clients in a broad range of domestic and international industries. For more information about Capstone and its growth strategy and advisory capabilities, visit CapstoneStrategic.com. For timely commentary and insights into the M&A market, visit the Successful Acquisitions blog at SuccessfulAcquisitions.net. Capstone can also be reached at 703.854.1910 or Growth(at)CapstoneStrategic(dot)com.
About South Carolina Financial Solutions, LLC
South Carolina Financial Solutions (SCFS) is a credit union service organization that is a member of the South Carolina Federal Credit Union family of service organizations. SCFS provides credit unions of all sizes with affordable, business-enhancing services. With the credit union philosophy of “people helping people” in mind, SCFS and its associated service organizations offer industry professionals with extensive experience to enhance a credit union’s functionality, agility and business processes. More information about South Carolina Financial Solutions can be found at SouthCarolinaFinancialSolutions.org.