BV Investment Partners Completes Major Sale of TopBloc to ASGN Incorporated

On February 4, 2025, BV Investment Partners, a distinguished middle-market private equity firm, announced the signing of a definitive agreement concerning the transfer of TopBloc, a prominent consulting firm specializing in Workday solutions, to ASGN Incorporated. The transaction signifies a major development in both firms' strategic growth trajectories and sets the stage for enhanced service offerings in the tech-enabled business consulting domain.

Understanding TopBloc

Founded in 2016 and based in Chicago, TopBloc has quickly established itself as a frontrunner in the Workday consultancy space. Over the past five years, the firm has successfully executed more than 300 Workday installations, demonstrating its robust capabilities in areas such as human capital management, payroll, and financial management.

By attaining the status of a certified Workday Services Partner, TopBloc has secured its place among medium to large enterprises across North America, helping them to optimize their Workday platforms effectively. The company's clientele spans various industries, including financial services and HR management, reflecting its versatility and expertise.

The Details of the Transaction

Upon the completion of this acquisition, TopBloc's highly skilled workforce, comprising over 500 professional consultants, will join ASGN’s Consulting Services, further strengthening ASGN's competitive edge in the market. ASGN Incorporated is known for its agile consulting services and has built a solid foundation focusing on IT and tech-enabled solutions.

Christopher Skinner, CEO of TopBloc, emphasized the company’s growth journey, saying, “Our journey with BV has allowed TopBloc to thrive and enable countless enterprises to harness the capabilities of Workday. The increasing reliance on sophisticated Workday solutions by companies underscores the importance of our services.”

Matt Kinsey, Managing Partner at BV Investment Partners, expressed confidence in TopBloc's future under ASGN, praising the leadership and operational enhancements achieved during BV's investment. Kinsey noted, “TopBloc has shown robust performance during our tenure. The team’s focus on technology and operational scaling has positioned them for greater achievements.”

Looking Ahead

The acquisition transaction remains contingent on standard Hart-Scott-Rodino (HSR) review and other customary closing conditions, with expectations to close within the first quarter of 2025. This transaction highlights the ongoing trends in tech-enabled consulting services where firms are increasingly pivotal to operational success for large organizations.

About BV Investment Partners

BV Investment Partners boasts a long history as one of North America's most prominent sector-focused private equity firms. Established in 1983, BV has directed approximately $5.6 billion into diverse markets, currently managing its 11th private equity fund that secured $1.75 billion in capital commitments as of September 2023.

The firm has consistently delivered substantial value to its portfolio companies, enhancing their capabilities and market reach. The firm’s recognition as a Founder-Friendly Investor in the 2024 list by Inc. Magazine underscores its commitment to nurturing strong partnerships and driving growth through innovative investments.

With this strategic sale of TopBloc, both BV Investment Partners and ASGN Incorporated are poised for significant growth, reflecting the dynamic landscape of tech-enabled services in today’s business environment. For more information about TopBloc, visit www.topbloc.com.