Sverica Capital Management LP (“Sverica”) announced today the sale of 7Summits, LLC (“7Summits” or the “Company”), a leading Salesforce digital solutions consultancy, to International Business Machines Corporation (“IBM”). This marks the culmination of a seven-year successful partnership with 7Summits, during which the Company nearly quintupled in size while going from no Salesforce presence to being one of the largest independent providers in the ecosystem.
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“Sverica has been a remarkable partner over the years”
In 2013, Sverica partnered with 7Summits Founder & CEO Paul Stillmank to capitalize on the company’s core strength—using technology to collaborate with co-workers, partners and customers to create business growth and efficiencies. Sverica and Paul then reinvested back into the company for several years to focus on driving the Company’s Salesforce business, implementing systems and processes to enhance forward revenue visibility, and creating organizational capacity by adding talented executives. These efforts created a significant number of technology jobs in 7Summits’s hometown of Milwaukee and garnered numerous accolades including being named a Best Place to work both locally and Nationally in 2020 and making the Inc. 5000 list five times in its history with 2020 marking the second consecutive year.
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7Summits has also been recognized for its accomplishments in the Salesforce ecosystem being named a Platinum Consulting Partner in consecutive years and more recently achieving Salesforce National SI Status, one of just nine and the only independent systems integrator to do so.
“It has been an honor to go on this fantastic seven-year growth journey with Paul and the talented 7Summits team as the company scaled to become a category leader during Sverica’s ownership. For many years, 7Summits has delivered best in class, unique solutions to enterprise clients changing how people work, collaborate and communicate. I am proud to see how far up the mountain the Company has been able to climb and I am confident it will continue to grow and flourish within the IBM organization and ultimately reach the next summit,” said Jordan Richards, Managing Partner at Sverica.
Ryan Harstad, Partner at Sverica, added “7Summits is a special organization – one with a clear mission, a rich culture, and tremendous momentum. The Company’s success is not only a tribute to Paul’s compelling vision and boundless energy, but also the deep expertise and tireless dedication of the entire 7Summits team. Partnering with Paul and 7Summits has been a delight, and with both bittersweetness and excitement I wish them a happy journey with IBM.”
