PHILADELPHIA (April 19, 2022) — SolomonEdwardsGroup, LLC (SolomonEdwards), a national professional services firm, today announced that it received a significant investment from Renovus Capital Partners (Renovus). The capital infusion follows a period of record-setting growth for SolomonEdwards as it continues to drive its expansion. SolomonEdwards will use the capital to make additional investments in its team and delivery capabilities, and accelerate its planned expansion as a platform company.
Founded in 1999 by CEO Ed Baumstein, SolomonEdwards has been a national leader in strategy execution. With expertise and experience, SolomonEdwards provides solutions for complex situations delivered by exceptional people in the areas of Accounting & Finance, Banking & Financial Services, Business Transformation, Governance & Regulatory Compliance, and Transaction & Regulatory Advisory Services.
“To be a platform company for Renovus is both a privilege and an honor,” said Ed Baumstein, Founder, President, and CEO of SolomonEdwards. “We’re grateful for the confidence in our past and excited for what we can build together in the future.”
“I believe that ‘who’ you bring into your business is about having a common vision, a great cultural fit and business benefits for all involved parties. I am extremely confident that SolomonEdwards and Renovus Capital align on all three areas and are equally focused on bringing value to the marketplace. SolomonEdwards will immediately benefit from Renovus Capital’s investment with the additional resources to help grow the business,” said Baumstein.
Jesse Serventi, Founding Partner at Renovus Capital Partners, notes that, “We are excited to partner with the management team at SolomonEdwards to build upon their market leading position. Ed and his team have done a great job growing the business thus far and we are excited to support them in further expanding the SolomonEdwards platform. They have exceptional leadership, infrastructure, and processes in place. We believe this platform allows for substantial opportunities to grow the company’s business organically and through the acquisition of new service areas and geographic markets.”
“We invested in SolomonEdwards because of its strong track record of success in solving mission critical challenges for its clients. SolomonEdwards’ differentiated services, exceptional relationships, and client-first service mentality are unparalleled in the space, and we’re excited to be their growth partner,” said Lee Minkoff, Principal at Renovus.
About SolomonEdwards
SolomonEdwards is a national professional services firm focused on strategy execution. By providing exceptional people for complex situations, we deliver subject matter expertise, apply proven project delivery models, and design custom solutions. We focus in the areas of Accounting & Finance, Business Transformation, Governance & Regulatory Compliance, and Transaction & Regulatory Advisory Services. For more information, please visit www.SolomonEdwards.com.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is an investment firm specializing in the Knowledge and Talent industries. Renovus, based in the Philadelphia area, manages over $1 billion across several investment vehicles. The firm’s current portfolio includes over 20 U.S. based businesses specializing in education and training, B2B healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its industry expertise and access to debt and equity capital to make operational improvements, pursue add-on acquisitions and oversee strategic growth initiatives. More information can be found at www.renovuscapital.com.
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For additional information please contact:
Ed Baumstein, CPA, President & CEO
edbaum@solomonedwards.com
484-581-2708
Lee Minkoff, Principal
Renovus Capital Partners
lee.minkoff@renovuscapital.com
215-913-2662
Jesse Serventi, Founding Partner
Renovus Capital Partners
jesse.serventi@renovuscapital.com
610-848-7703
