Escalon Acquires Full Stack Finance to Further Support Its Growth Strategy
Companies' Shared Culture of Focus on Customer Success Ideal to Advance Escalon's Leadership Position in the Essential Business Services Sector
PALO ALTO, Calif., April 14, 2022 (Newswire.com) - Escalon, a leading Essential Business Services (EBS) provider, announced today the acquisition of Full Stack Finance, a leading provider of CFO, controller, accounting and HR services to high-tech, high-growth clients. The acquisition is part of Escalon's overall growth strategy to further strengthen its leadership position in the over $300 billion EBS category. The EBS market encompasses back-office operations such as CFO, accounting, taxes, insurance, HR, payroll, benefits and recruiting.
According to Ruby Sahiwal, CEO of Escalon, the Full Stack Finance acquisition brings highly valued assets and capabilities to Escalon. "Our mission is to bring the benefit of our mantra of 'Escalon, And Done' to as many entrepreneurs as possible," said Sahiwal. "Full Stack Finance is a market leader in the EBS category in the Los Angeles market and their integration with Escalon is extremely exciting in terms of growth potential. They share a deep commitment with us around client satisfaction and client success. This fits perfectly with our culture."
"The acquisition allows us to leverage Escalon's world-class delivery capabilities with its technology and global resources to improve our ability to serve customers better, " said Ivan Ivankovich, co-founder of Full Stack Finance. "We also felt there was a strong cultural alignment with our desire to help customers and employees be successful and Escalon's focus on customer and employee success. We feel this is a win-win for both of us as we continue to drive our leadership in the EBS category."
Escalon also announced management changes driven in part by the acquisition. Ivankovich becomes the new COO of the combined companies (Escalon) and Maureen Cheong, Full Stack Finance's SVP of its Human Resources Practice, becomes the new head of Escalon's PeopleOps.
"We have a very aggressive growth strategy, and we see this acquisition as a way to support that growth," said Sahiwal. "As well, the acquisition improves our presence in the Los Angeles market where Full Stack Finance has seen remarkable success. With the addition of its management team, we further solidify Escalon's management capabilities. We are extremely excited about the possibilities this acquisition brings as we continue to grow and lead the EBS sector."
Escalon is the one-and-done solution for all Essential Business Services (EBS), including FinOps (CFO services, bookkeeping and accounting), PeopleOps (human resources, benefits, recruiting, and payroll) and Risk (business insurance). Since 2006, Escalon has helped over 5,000 companies across a range of industries and in 22 countries optimize their back offices. Escalon has been named to Inc. Magazine's Inc. 5000 list four times over the past five years.