BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--O2 Investment Partners (“O2”) (www.o2investment.com) is pleased to announce that SIB Fixed Cost Reduction (“SIB”) (www.aboutsib.com) has partnered with the Fox Consulting Group (“Fox Consulting”). The transaction marks the platform’s second add-on acquisition as it continues to enhance targeted categories.
Kevin Flounders, CEO of SIB, commented, “Bringing Fox into the SIB family is a natural next step in our strategy as we continue to expand our service offerings and strengthen our market position. We value Fox’s excellent track record and believe their telecom and merchant services expertise will allow us to deepen relationships with existing customers. We look forward to equipping both the SIB and Fox teams with more resources to grow.”
Founded by Sean Fox in 2003, Fox provides expert cost analysis and auditing for telecommunications and merchant services. The company optimizes all facets of a client’s telecom spend, including all forms of voice, data, mobile, and cloud-based services. The company also analyzes credit card processing rates and ensures clients are benefiting from correct interchange classifications.
“I have spent nearly 20 years growing Fox Consulting to what it is today,” said Fox. “Teaming up with SIB allows us to do even more for our clients while also expanding their client offerings. This is an exciting move for us, and we’re eager to hit the ground running.”
Pat Corden, Partner at O2, commented, “O2 is very pleased to bring the capabilities of Fox Consulting into the SIB platform. The combined team has executed on several cross-selling opportunities, and we are confident that more revenue synergies will come. We thank Sean for his faith in the SIB and O2 teams and look forward to growing the platform and continuing to scale the business together.” Mr. Corden added, “We want to thank our financial partners TCF Capital Funding and LBC Small Cap Credit for their confidence and continued support in this investment.”
About SIB Fixed Cost Reduction:
SIB is a leader in fixed cost reduction services providing invoice analysis, vendor negotiation and cost monitoring for customers across a variety of expense categories including telecom, utilities, and waste management. The company earns contingent fees based on the savings found for clients. SIB is headquartered in Charleston, SC. Additional information is available at www.aboutsib.com.
About Fox Consulting Group:
Fox Consulting is a leader in telecom and merchant services spend management providing customized expense oversight solutions for all line items within the broader expense categories. Like SIB, the company earns contingent fees based on savings found for its clients. Fox Consulting is headquartered in Cincinnati, OH.
About O2 Investment Partners:
O2 Investment Partners is a Midwest-based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. Additional information is available at www.o2investment.com.