Chicago-based firm Prosperity Partners, backed by private equity firm Unity Partners LP, announced that it has completed the acquisition of Vienna, Va.-based transaction services firm Pipaya.
Led by Adam Strach, who founded the firm in 2009, Pipaya is a transaction advisory firm with expertise in the aerospace, defense and government services industries that focuses on providing sell-side and buy-side quality of earnings, M&A readiness, and accounting and integration support for founder / owner operators and private equity investors. Over the past 15 years, the firm has advised on over 200 transactions totaling over $12 billion in transaction value. As part of Prosperity, Strach and his team will continue to provide the high-touch, high-quality service that Pipaya clients and industry business partners have come to expect.
“I’m thrilled to add the Pipaya team to our growing firm,” said Jeremy Dubow, CEO and co-founder of Prosperity. “Under Adam’s leadership, Pipaya has developed a reputation for making the complex simple with a solutions-oriented approach to transaction support. That ethos will remain central to Pipaya’s culture and work as part of the Prosperity platform. Adam has developed a phenomenal team and this new service line will allow us to better serve the existing clients of both Prosperity and Pipaya.”
Consistent with Prosperity’s people-first focus, all Pipaya employees will become part of Prosperity’s Employee Purpose Plan, a broad employee ownership program. As an essential aspect of each Unity Partners’ investment, the employee purpose plan allows qualifying employees to benefit from the company’s success.
“Prosperity Partners’ focus on caring for and listening to their clients and people really resonated with me,” said Strach. “I’m excited to put our combined expertise to work simplifying and improving our clients’ businesses and transactions as part of Prosperity.”
“We’re pleased that Prosperity is continuing its strong momentum with this acquisition,” added Peter Cozzi, team lead at Unity Partners. “Pipaya’s expertise and culture of exceptional service are perfectly aligned with Prosperity’s goals and their addition expands our long-term growth opportunity.”
