• Enterprise application software company with $1B+ annual revenue


  • At time of PE investment, company had $600M of revenue; investment thesis focused on improving performance margins in core business, strategies to sustain and accelerate growth (organic and tuck-in acquisitions) and increasing cloud revenue mix


Waterstone developed and advised on execution of a phased roadmap for Cloud growth and Services transformation.

  • Defined, launched and provided execution oversight for Cloud Services business (application management and hosting), leveraging existing product portfolio
  • Identified and acted on improvement initiatives within Services business focused on improving utilization, driving standardization in bid/quote and resource scheduling process and lowering costs through updated delivery models and automation
  • Adapted services business for both organic and acquired SaaS applications; key focus areas included: service offering structure, subscription pricing models, customer success functions and enablement and financial metrics and planning


  • Cloud Services business was the fastest organic growth story at client; grew from start-up to ~$40M business with 25%+ margin
  • SaaS business growing at ~20% YoY
  • PS operations and margin improvement: 17% to ~25%+ margin improvement
  • Above initiatives contributed in part to >5x return on original PE investment