D.A. Davidson Advises Global Provider of Digital Services and Technology Enabled Digital Operations, ThoughtFocus, on Its Growth Investment from H.I.G. Capital

November 4, 2022

D.A. Davidson & Co. announced today that it has served as the exclusive financial advisor to ThoughtFocus, on its growth investment from H.I.G. Capital, a leading global private equity and alternative assets investment firm with $52 billion of equity capital under management.

ThoughtFocus is a global provider of digital services and technology-enabled digital operations focused on the financial services, manufacturing, and education end-markets. Headquartered in the U.S. and founded in 2004, the company provides a broad suite of technology services and business solutions to leading enterprises, including product and application development, advisory services, process automation and outsourcing. The company has a global delivery model with employees across 12 locations in five countries.

“My partners and I started ThoughtFocus in 2004 with one goal: to deliver world-class technology and business solutions by applying our deep domain expertise, strong values and integrity, and robust execution capabilities to every engagement. So when we decided to bring in strategic investment to accelerate growth, it was imperative for us to find an investment bank partner that embodied the same beliefs — D.A. Davidson was that partner for us. The team at D.A. Davidson was essential to us achieving this fantastic outcome,” said Suman Atreya, Chief Executive Officer of ThoughtFocus.

“Suman Atreya, Shylesh Krishnan, and Rajiv Goyal, along with the rest of the ThoughtFocus team, have done a remarkable job in building a leading provider of digital transformation strategies, solutions, and services supported by deep domain knowledge and technical expertise that helps its clients transform and grow,” said Derek Bell, Managing Director at D.A. Davidson’s Technology Investment Banking Group. “We are excited about the partnership between ThoughtFocus and H.I.G., and look forward to what lies ahead.”

“The founders of ThoughtFocus and their team are true innovators at heart and continue to deliver best-in-class solutions to their customers, which has translated into them building a true market leader in the space,” said Aalap Merchant, Managing Director, Co-Head of Technology Investment Banking at D.A. Davidson. “H.I.G.'s expertise, partnership approach, and extensive operational and M&A capabilities are the right fit for ThoughtFocus.”

This transaction represents another successful closing by D.A. Davidson's Technology Investment Banking Group, highlighting a deep domain expertise in the tech-enabled services space and successful track record generating highly favorable outcomes for robust business services companies globally. Since January 2021, the Technology Group has completed nearly 80 advisory and public equity transactions representing more than $20 billion in value.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

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Deal Team Contacts

Derek Bell, Managing Director | New York | [email protected]
Aalap Merchant, Managing Director and Co-Head of the Technology Investment Banking Group | New York | [email protected]
Ken Marlin, Vice Chairman of the Technology Investment Banking Group | New York | [email protected]
Joseph Tamburello | New York | [email protected]

Media Contact

Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]