Tenzing Announces Leadership Change and Expanded Investment from Eventi Capital Partners
TORONTO – July 21, 2015
Successful e-commerce Entrepreneur and Investor Bill Di Nardo to Assume CEO Role
Tenzing Managed IT Services, the leading commerce managed service provider for mid-market retailers and merchants, is pleased to announce that it has appointed its chairman of the board of directors, Bill Di Nardo, as CEO. He will succeed Tenzing’s founder Brian Shepard, who will step down as CEO but remain a shareholder in the business.
Bill Di Nardo is a serial entrepreneur and venture investor with extensive experience building high performance teams and driving rapid revenue growth companies. He was the founder, president and CEO of e-commerce pioneer Grocery Gateway Inc., which under his leadership grew to more than 400 employees and annualized sales of close to $40 million at its peak. After leaving Grocery Gateway, Di Nardo moved from entrepreneur to investor by forming Eventi Capital Partners, an investment firm that specializes in the software/infrastructure-as-a-service (SaaS and IaaS) field with investments in companies like Tenzing and Ceryx.
“Tenzing welcomes Bill’s expertise and strong leadership into an operational role in the organization,” said Raj Atwal, president, Tenzing. “He has played an important leadership role on our board over the past 7 years and has provided sound strategic counsel. We believe that his focus on long-term growth, strategic discipline and vast experience in growing companies, specifically in e-commerce, will serve Tenzing well in this exciting period of our history as a company.”
“I look forward to working with Raj and the leadership team to accelerate the growth of the business, expand the range of products and services available and continue helping retailers from around the world consume the most advanced etail technology platforms and applications,” said Bill Di Nardo, CEO and chairman, Tenzing. “On behalf of everyone at Tenzing, I want to thank Brian for the job he has done over the last 10 years.”
The leadership change supports Tenzing’s efforts in being an industry leader in commerce managed services supporting technology platforms like Oracle Commerce, SAP Hybris, and eBay Magento.
Expanded Investment from Eventi Capital Partners
Tenzing is also pleased to announce that long-time shareholder Eventi Capital Partners (ECP) has expanded its investment in the business as part of this transition.
“ECP has been an investor in our business for many years, and has provided strategic and operational guidance that has driven our transformation into a specialized managed service provider. The expanded investment in Tenzing shows that ECP has tremendous confidence in our business and is committed to our long-term success and growth,” continued Atwal.
INFOR Financial Inc. acted as the financial advisor to Tenzing Managed IT Services on the transaction.
About Tenzing Managed IT Services
Tenzing delivers solutions and services that enhance performance, maintain security and simplify compliance for retailers and manufacturers. By combining deep technical expertise with exceptional service delivery and support, Tenzing helps clients alleviate risk and maximize revenue from their digital investments. Tenzing deploys, manages and optimizes software and infrastructure for leading commerce platforms from partners such as Oracle, Hybris, Magento, and IBM. With offices and customers in the Americas, EMEA, and APAC, Tenzing is regularly recognized as a high-growth company and industry leader. Tenzing is ISO 27001 certified, AT101 SOC audited and a Level 1 compliant and audited PCI-DSS Service Provider. Tenzing also partners with Amazon for the global delivery of managed commerce services on AWS.
About Eventi Capital Partners
Eventi is a Toronto-based growth capital investment group, specializing in commercialization of rapid growth technologies. Founded in 2002, Eventi leverages the extensive operational and investment experience of its Managing Partners to enable management teams to scale their business more predictably.