August 15, 2023. (Charleston, SC) SIB Holdings (“SIB”) (www.aboutsib.com) is pleased to announce that it has made a strategic investment in ProcureAmerica (www.procureamerica.org). SIB, a spend management platform and portfolio company of O2 Investment Partners, (www.o2investment.com) has completed seven add-on investments since March 2020.
ProcureAmerica is a national provider of contingency-based cost reduction and contract compliance services principally supporting the government, education, and healthcare sectors. Kevin Flounders, CEO of SIB, commented, “ProcureAmerica is a strategically important addition to the SIB platform. ProcureAmerica has deep expertise in local and state government, higher education, and healthcare. This enables SIB to firmly establish a presence in new growth sectors.”
Fred Armendariz, CEO of ProcureAmerica, added, “Partnering with SIB and O2 Investment Partners will further strengthen our capacity to deliver services and expense management programs to our clients. ProcureAmerica is honored by the opportunity of working with the SIB/O2 family of “best in class” service providers, and we are certain that our clients will greatly benefit from this added capability.”
Kevin Flounders added, “We are pleased to add Procure America to the SIB platform. Our go-to-market approach and cultures are closely aligned. Procure America can now help its clients reduce spend in a broader number of spend categories than ever before.”
The ProcureAmerica leadership team will remain in place and maintain its offices in California, Washington D.C., and Montana.
About SIB Holdings
SIB is a leader in fixed cost reduction services providing invoice analysis, vendor management, and contract compliance for customers across a variety of expense categories including telecom, utilities, treasury, shipping, and waste. The company earns contingent fees based on the savings found for clients. SIB is headquartered in Charleston, SC. SIB is owned by O2 Investment Partners.
About ProcureAmerica
ProcureAmerica is a leading service provider of contingency-based cost reduction and contract compliance services supporting government, education, healthcare, and private industry. The company has been designated by INC Magazine as one of the 5000 “Fastest Growing Companies in America” list for an unprecedented four years straight. Their areas of focus include utilities, waste, telecommunications, print management, treasury, and technology. The organization is staffed by industry specific veterans and helps its clients improve service levels, achieve vendor transparence, and reduce costs. Procure America is headquartered in San Juan Capistrano, CA.
About O2 Investment Partners
O2 Investment Partners is a Midwestern 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.