Edgewater Strategy Group Supports Renovus Capital Partners on Its Acquisitions of K2 Services and Forrest Solutions

WAYNE, PA (November 10, 2025) – Edgewater Strategy Group (“Edgewater”), a boutique advisory firm specializing in M&A, capital raises and Office of the CFO services, today announced that it supported Renovus Capital Partners (“Renovus”), the Wayne, Pennsylvania-based private equity firm, as an embedded buy-side deal team on its acquisitions of K2 Services (“K2”) and Forrest Solutions (“Forrest”).

Renovus has made a majority investment in K2, a Chicago-based provider of technology-enabled managed services founded in 1985, whose work for clients runs from IT hosting and security operations to round-the-clock support and enterprise applications. With Renovus’s backing, K2 has acquired Forrest, a New York-based onsite outsourcing and staffing business founded in 1976, and, as part of the same announced transaction, Epiq’s Global Business Transformation Solutions division (“Epiq GBTS”).

The businesses are being brought together as a single organization of more than 4,500 professionals with onsite, offsite and offshore delivery, led by newly appointed Chief Executive Officer Michelle Deichmeister. The combination is designed to pair that scale with workflow automation and technology-enabled solutions, so that clients can hand off operational work and concentrate on their core business.

Edgewater’s engagement covered the K2 and Forrest transactions, on which it worked as an embedded buy-side deal team alongside Renovus’s investment professionals from diligence through closing. Its work spanned business and financial diligence on both companies, diligence databooks, customer surveys, validation of pipeline, backlog and margin trends, investment committee and board materials and a pre-closing memo, as well as coordination of Renovus’s third-party diligence providers.

“K2 and Forrest have spent decades inside their clients’ operations, K2 through the technology that keeps them running and Forrest through the people who staff their front and back offices. Renovus saw what both could become on one platform, and our job was to pressure-test that thesis: how durable the client relationships are, how reliably pipeline and backlog convert, and how margins hold up at scale. Working inside the Renovus deal team from the first diligence request to closing, we saw the case strengthen at every step.”

Hawken LordManaging Partner, Edgewater Strategy Group

Terms of the transaction were not disclosed.

Renovus’s full announcement is available here.

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