Balance Point Capital Announces Follow-On Investment in Prime Technology Group
Balance Point Capital (“Balance Point”) is pleased to announce its follow-on investment in Prime Technology Group (“Prime” or the “Company”). Balance Point invested debt and equity capital in support of Prime’s acquisition of Synerzip, a leading Agile software product development firm with over 500 employees. Frontenac, the financial sponsor and majority shareholder of Prime, led the transaction.
Synerzip works closely with clients to accelerate their product and software development roadmap, using agile development practices to scale clients’ engineering. Each client works with a dedicated team focused on driving continuous improvement through digital transformation.
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Justin Kaplan, a partner at Balance Point said, “Balance Point is excited to continue its partnership with Frontenac and Prime, and extends a warm welcome to Hemant Elhance (Co-Founder and CEO of Synerzip), Vinayak Joglekar (Co-Founder and CTO of Synerzip) and the rest of the Synerzip team. We believe the synergistic combination will result in greater scale and capabilities to enhance the experience for customers of the combined entity.”
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