E78 Partners, a provider of finance and accounting solutions to private equity clients, has acquired Cadilus Inc., a Richmond, VA-based company offering consulting, managed services, and technology in financial planning and analysis (FP&A).
Founded in 2018, Cadilus supports mid-market and Fortune 1000 companies tackle challenges in business planning and budgeting, financial modeling and forecasting, performance measurement and reporting, and business analytics and insight.
The firm helps clients design their FP&A operating model and implement the firm’s Datapax FP&A technology platform, and also provides managed services for the finance function.
Cadilus has approximately 40 employees, according to LinkedIn.
E78 Partners’ acquisition of Cadilus will bolster the firm’s finance and accounting consulting practice and its technology services and solutions practice. Cadilus co-founders Nick Fischer and Dan Shin and their team will join E78 as part of the deal, which closed on February 28.
“The addition of the talented Cadilus team and its powerful DataPAx technology platform, coupled with E78’s in-depth understanding of private equity and portfolio company operations, will enable us to serve the market with the most comprehensive portfolio-monitoring solutions available,” said John Signa, E78 Partners founder and CEO.
E78 was founded in 2018 and is based in Chicago. The firm has rapidly grown to more than 300 professionals who deliver services in finance and accounting consulting and outsourcing, transaction execution, technology, and fund administration. E78 focuses on private equity clients and their portfolio companies, but also works with corporate clients.
The company has acquired four firms in the last two years: Agile Fund Solutions, a provider of outsourced CFO, COO and CCO consulting services to the alternative investment industry; NextLevel, a provider of C-suite financial and operational management consulting services; 9Gauge Partners, a firm specializing in serving the needs of venture capital- and private equity-backed portfolio companies; and Stride Accounting Solutions, a finance-as-a-service firm that delivers a range of managed accounting and finance services.
“After experiencing remarkable growth since our founding in 2018, we’re excited to join the E78 family,” said Fischer and Shin. “Our shared vision, values, and focus on delivering value for our clients will only be strengthened through a broader portfolio of services and deeper bench of expertise.”
E78 in December 2021 received an investment from Further Global Capital Management, a private equity firm focusing on financial services businesses. The partnership provided additional capital to expand E78’s service offering and geographic footprint, according to a press release from the firm.