Bunker Hill Capital Makes Significant Investment in Vesta Partners, LLC: Combination of /N SPRO and Vesta Creates a Leading

  Bunker Hill Capital Makes Significant Investment in Vesta Partners, LLC:
  Combination of /N SPRO and Vesta Creates a Leading “Emerging
  Technology-Centric” SAP Services Firm

Business Wire

BOSTON -- December 12, 2012

Bunker Hill Capital, a Boston-based private equity firm, announced today that
it has made a significant investment in Vesta Partners, LLC (“Vesta” or the
“Company”), the leader in SAP Enterprise Asset Management (“EAM”) consulting
and implementation services and technologies. The transaction represents the
third investment under a consolidation strategy focused on building the
leading “emerging technology-centric” SAP services firm. Vesta provides
functional and technical consulting services to Fortune 500 companies
utilizing SAP in the utilities, mining, rail, oil and gas and manufacturing
industries. The investment was made through Bunker Hill Capital’s portfolio
company, IT Holdings, and will enhance and accelerate the rapid growth of
Vesta’s services. The Company’s founders will remain significant shareholders
and the management team will continue in their current roles.

Bunker Hill Capital closed on its initial investment, /N SPRO, in August 2009.
/N SPRO provides high value, specialized consulting services in SAP’s emerging
solutions areas including: SuccessFactors, SAP mobile solutions, SAP Human
Capital Management (“HCM”), SAP Customer Relationship Management (“CRM”) and
SAP solutions for Environmental Health & Safety (“EH&S”). In October 2011, /N
SPRO acquired DeyFischer, a provider of platinum-level SAP functional and
technical consulting services to Fortune 500 companies in the retail, consumer
products and agricultural industries. Under the leadership of Steve Hatcher,
/N SPRO has developed the leading SAP for Retail services team in North
America. In June 2012, /N SPRO acquired Javelin ERP, a Toronto-based
organization specializing in SAP HCM and Payroll Solutions to further
penetrate the Canadian market place. Luc Hédou, Co-Founder of /N SPRO, stated
that “the investment in Vesta is a continuation of our strategy of building a
company with expertise in emerging SAP technologies. Our deep knowledge in
SuccessFactors, mobility, SAP for Retail, HCM, CRM, EH&S and elite services
combined with Vesta’s market leading position in EAM and HANA creates a very
valuable platform for all of our customers.”

Headquartered in Stamford, CT, Vesta has built the industry leading SAP EAM
consulting practice while servicing global enterprise implementations. When
combined with /N SPRO, the consolidated company will have a global presence
with offices in the U.S., Canada, Europe and Australia and expects to open an
office in Singapore in 2013. Vesta’s founders and senior management team will
continue to oversee the Company’s operations and corporate development
initiatives. Mike Maiolo, CEO of Vesta, stated, “We decided to partner with
Bunker Hill Capital to accelerate our growth while better serving our clients
through expanded solution offerings. /N SPRO is a leader in SuccessFactors,
mobility, SAP HCM and CRM consulting in North America, and we look forward to
introducing these capabilities to our clients.” Carl Graves, Vesta CFO, added,
“The potential synergies between the two companies, including multiple service
offerings, geographic expansion and specific industry expertise, are exciting,
and we look forward to working with the /N SPRO team to take full advantage of
these opportunities.”

Since closing the original investment in August 2009, Bunker Hill Capital has
continually modified its consolidation strategy to remain ahead of market
trends. According to Rufus Clark, a Managing Partner at Bunker Hill Capital,
“We continue to believe there is a great opportunity to partner and
consolidate companies in the SAP ecosystem, and all of us are eager to further
the platform’s success in the global market.” Max McEwen, a Vice President at
Bunker Hill Capital, commented, “The IT market’s rapid evolution combined with
the enterprise shift towards hybrid environments comprised of on-premise,
mobile and cloud solutions, is producing increased demand for focused niche
services. A mid-sized emerging technology-centric platform, such as IT
Holdings, is delivering solution sets and ROIs unmatchable by large system

About Vesta

Founded in 2005, Vesta operates a functional and technical consulting practice
focused on EAM solution architecture and configuration for customers in asset
intensive industries. The functional consulting practice is focused on
architecting and integrating SAP EAM modules, which help customers track,
manage and report on capital asset usage, with expertise in utilities, mining,
rail and oil & gas. In addition to its consulting services, the Company offers
proprietary software solutions addressing niche EAM demands. As a leader in
the EAM space and an SAP Select Consulting Partner, the Company is regularly
hired by Fortune 500 customers to design and implement master IT roadmaps
specifying enterprise application architecture and configuration. For more
information, please visit www.vestapartners.com.

About /N SPRO

Founded in 2003, /N SPRO provides a high-value offering for the increasing
market need of specialized consulting services in SAP’s emerging solutions
area. As SAP AG continues to expand its solution portfolio, /N SPRO stays
focused on being the “first on the first wave” of new SAP product
innovationand gaining deep knowledge about new products ahead of mainstream
market adoption. /N SPRO offers an elite team that is first to market and
delivers high-quality consulting. They are driven to help customers achieve
success with SAP software such as SuccessFactors, SAP for Retail, SAP mobile
solutions, SAP HCM, SAP CRM, and SAP solutions for EH&S. As an end-to-end
consulting services provider, /N SPRO offers business consulting that provides
trusted guidance for maximum business impact, implementation services to help
customers become a best-run business, and service desk assistance for
continued business success. For more information, please visit www.n-spro.com.

About Bunker Hill Capital, L.P.

Bunker Hill Capital is a private equity firm that makes investments in lower
middle market companies with enterprise values up to $150 million. The
principals of Bunker Hill Capital have invested over $425 million in 30
transactions and target opportunities across four industry sectors including
industrial products, business services, consumer products and specialty
retail. Bunker Hill Capital’s current portfolio company investments include
California Family Fitness, the leading owner and operator of fitness centers
in the greater Sacramento, CA area; Papa Gino’s/D’Angelo, a dominant quick
service restaurant operator in New England; Smith & Wollensky, a premier
steakhouse concept in the United States; SunBriteTV, the world’s leading
designer, manufacturer and supplier of all-weather outdoor televisions and
related accessories; and IT Holdings, a leading SAP services firm. For more
information on Bunker Hill Capital, please visit www.bunkerhillcapital.com.


Bunker Hill Capital
Robert L. Clark, Jr., 617-720-4032
Managing Partner
Mark DeBlois, 617-720-4035
Managing Partner
Max McEwen, 617-720-4031
Vice President
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