Indianapolis-based KSM Consulting, which has been in expansion and acquisition mode for the past 18 months, has itself been acquired. Global investment group Investcorp has acquired a majority interest in the Indiana technology and data consulting firm.

Terms of the transaction were not disclosed.

KSMC says Renovus Capital Partners will retain minority ownership and continue to sit on the board of directors.

“As we continue to expand the reach of our difference-making work, our partnership with Investcorp puts us in the best position to boldly solve new, complex challenges, while growing our exceptional team and investing in our home state of Indiana in big ways,” said Mark Caswell, chief executive officer of KSM Consulting. “We owe much of our success over the years to our incredible clients and communities, and we look forward to a new, exciting chapter of growth—together.”

KSM has acquired three firms over the past 18 months, which the company says exceeded its five-year investor goals. Two weeks ago, KSM acquired Tempus Nova, a Google Cloud solutions company headquartered in Denver.

Caswell says growth is expected to continue, as KSMC plans to increase its workforce by at least another 20% this year.

“We believe that KSM Consulting is well-positioned for growth as the need for organizations to adopt and realize value from digital solutions will continue to generate demand for the company’s mission-critical services,” said Steve Miller, Investcorp managing director and head of professional services, private equity–North America. “We have a successful history of partnering with professional services and tech-enabled businesses and we look forward to supporting CEO Mark Caswell and President John Roach as they continue growing KSMC.”