AUSTIN – Sverica Capital Management LP said on Thursday it has sold its Fund V portfolio company, Coastal Cloud Holdings LLC, to Tata Consultancy Services Ltd (TCS) in a deal valued at $700 million.
The transaction marks the end of a five-year partnership between Sverica and Coastal, during which the Florida-based consultancy quadrupled in size and established itself as one of the fastest-growing Salesforce partners in the United States.
Founded in 2012 by Sara and Tim Hale, Coastal provides strategy, implementation, and managed services to help organizations modernize systems using Salesforce, Snowflake, and data-driven AI solutions. The company has completed more than 8,000 projects and holds a perfect rating on Salesforce’s AppExchange.
Under Sverica’s ownership since 2020, Coastal expanded its go-to-market function, invested in data and AI offerings, and added senior leadership including CEO Eric Berridge, a former Salesforce executive. The firm earned multiple industry accolades, including recognition as the top Salesforce consultancy by G2 and three Salesforce Partner Innovation Awards.
“This is a landmark day for Coastal as we join forces with Tata Consultancy Services,” Berridge said. “Our partnership with Sverica was critical in scaling the business and becoming the #1 Salesforce and AI consultancy in North America.”
Jordan Richards, Managing Partner at Sverica, said the sale reflects Coastal’s transformation into a “category-defining consultancy” across Salesforce, Snowflake, and AI ecosystems.
Guggenheim Securities acted as exclusive financial advisor, while Choate, Hall & Stewart LLP provided legal counsel on the transaction.