IT Services Growth Capital Investments in 2020
Acquisition Volume in IT Services Growth Capital Investments in 2020 by Year
Last 5 years
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December 29, 2020
- Buyer
- Recognize Partners
- Target
- Ciklum Group Limited
- Seller
- Existing shareholders
- Industry
- IT Services
- Location
- United Kingdom
- Type
- Growth capital
Recognize Partners, a technology-focused private equity platform, has made a strategic growth investment in Ciklum Group Limited, a UK-headquartered digital transformation and custom software services firm. The investment will see Recognize partner with Ciklum’s existing shareholders and management to support capability expansion and global growth across hi-tech, fintech and consumer end markets.
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December 21, 2020
- Buyer
- CenterGate Capital
- Target
- Soroc Technology
- Industry
- IT Services
- Location
- Ontario, Canada
- Type
- Growth capital
Austin-based private equity firm CenterGate Capital made an investment in Soroc Technology, an outsourced IT services provider headquartered in Woodbridge, Ontario. The capital injection is intended to support Soroc's growth and expansion of its service offering while founder and CEO Rudy Cheddie remains in leadership.
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December 21, 2020
- Buyer
- Livingbridge
- Target
- Welltel
- Seller
- Duke Royalty Limited
- Industry
- IT Services
- Location
- Dublin, Ireland
- Type
- Growth capital
UK private equity firm Livingbridge has made an investment in Dublin-headquartered communications and IT provider Welltel to support the company’s M&A programme, organic growth and infrastructure scaling. Welltel, founded in 2007 and led by CEO Ross Murray and Executive Chairman John Quinn, serves roughly 3,500 customers across enterprise and public sectors and has completed six prior acquisitions.
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December 2, 2020
- Buyer
- LDC
- Target
- Foundation SP (FSP)
- Industry
- IT Services
- Location
- Berkshire, United Kingdom
- Type
- Growth capital
LDC has made a multi-million-pound minority growth investment in Foundation SP (FSP), a Reading-headquartered digital transformation and managed services provider. The funding will support FSP’s organic expansion of cloud, productivity, data and AI services, strengthen its management team and enable exploration of complementary acquisitions.
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November 30, 2020
- Buyer
- Olympia Capital Partners
- Target
- Maestral Solutions, Mistral Technologies
- Industry
- IT Services
- Location
- Netherlands
- Type
- Growth capital
Olympia Capital Partners (OCP) announced a strategic investment and partnership with IT services firms Maestral Solutions and Mistral Technologies, creating a combined Group headquartered in Amsterdam. OCP will support the integrated business with board appointments and operational resources to scale organically and via further acquisitions across Western Europe and North America.
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November 9, 2020
- Buyer
- Mentha
- Target
- Serac, Xperi
- Industry
- IT Services
- Location
- Netherlands
- Type
- Growth capital
Dutch SAP Gold partners Serac and Xperi are merging to create a combined one-stop-shop for mid-market organizations seeking SAP solutions. Investment firm Mentha will take a stake in the new organization to support international growth and an expanded SAP offering across BusinessOne, ByDesign and S/4HANA.
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October 31, 2020
- Buyer
- Assurance Mezzanine Fund
- Target
- Visual Connections, LLC
- Industry
- IT Services
- Location
- Maryland, United States
- Type
- Growth capital
Assurance Mezzanine Fund (Assurance) completed an investment in Visual Connections, LLC, a Windsor Mill/Columbia, Maryland-based IT and professional services provider. Assurance provided working capital and committed to finance future acquisitions to support Visual Connections' growth.
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October 21, 2020
- Buyer
- Lightview Capital
- Target
- Buchanan Technologies
- Industry
- IT Services
- Location
- Texas, United States
- Type
- Growth capital
Lightview Capital has made a strategic investment in Buchanan Technologies, a managed IT services provider headquartered in Grapevine, Texas. The partnership will provide Buchanan with capital and resources to accelerate expansion, enhance its service offerings (including its RPA tool "Abbey"), and better serve enterprise clients across North America.
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September 14, 2020
- Buyer
- BV Investment Partners
- Target
- GlideFast Consulting, Pharicode
- Industry
- IT Services
- Location
- Massachusetts, United States
- Type
- Growth capital
BV Investment Partners has made a significant growth investment in sister ServiceNow partners GlideFast Consulting and Pharicode, partnering with founders Michael Lombardo, Lloyd Godson and Stephen Light. The capital will support scaling ServiceNow-focused professional services, managed support capabilities, and expansion into adjacent ServiceNow product categories across commercial and public-sector end markets.
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September 1, 2020
- Buyer
- NewSpring Mezzanine (NewSpring), Alerion Capital Group
- Target
- MicroAge
- Industry
- IT Services
- Location
- Arizona, United States
- Type
- Growth capital
NewSpring Mezzanine, part of NewSpring, has made a mezzanine investment in MicroAge in partnership with Alerion Capital Group. The capital will support MicroAge's next phase of growth as a technology services and managed services provider, enabling investments in services-led capabilities, cloud, security, and remote-work solutions while supporting leadership transition.
-
September 1, 2020
- Buyer
- MML Capital Partners
- Target
- Roboyo
- Industry
- IT Services
- Location
- Bavaria, Germany
- Type
- Growth capital
MML Capital Partners has completed a growth investment in Roboyo, a Germany-founded leader in Robotic Process Automation (RPA) and intelligent automation services. The capital will be used to accelerate Roboyo's international expansion and innovation in automation services and its Roboyo Converge platform.
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August 27, 2020
- Buyer
- Spire Capital
- Target
- Advocate Networks, LLC
- Industry
- IT Services
- Location
- Georgia, United States
- Type
- Growth capital
New York-based private equity firm Spire Capital has made a growth investment in Advocate Networks, a TBM and TEM services provider headquartered in Atlanta. The capital will support Advocate's R&D, geographic and solution expansion, and enable complementary acquisitions while founders Tim Wise and Scott Fogle remain as Co-CEOs.
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August 18, 2020
- Buyer
- CIVC Partners, L.P.
- Target
- iVision
- Industry
- IT Services
- Location
- Georgia, United States
- Type
- Growth capital
CIVC Partners has made a growth investment in iVision, an Atlanta-based managed services and technology consulting provider, partnering with founder Gabe Damiani, President David Degitz and the existing management team. The investment will support iVision’s continued organic growth and enable the company to pursue strategic acquisitions while management retains a meaningful ownership stake.
-
- Buyer
- Marlin Equity Partners
- Target
- Pentalog
- Industry
- IT Services
- Location
- Centre-Val de Loire, France
- Type
- Growth capital
Marlin Equity Partners completed a growth equity investment in Pentalog, a global provider of software development and digital services. The investment will support Pentalog's international expansion and help accelerate its product design, engineering and digital consulting capabilities.
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August 3, 2020
- Buyer
- IMB Partners
- Target
- Ashburn Consulting LLC
- Industry
- IT Services
- Location
- Virginia, United States
- Type
- Growth capital
IMB Partners completed a growth equity investment in Ashburn Consulting LLC on July 14, 2020, partnering with the Northern Virginia IT and cybersecurity firm to support its expansion. The investment expands IMB's presence in government IT services and will help Ashburn scale its network engineering, cybersecurity, and managed services for federal, state, local and commercial clients.
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July 28, 2020
- Buyer
- TowerBrook
- Target
- Talan
- Seller
- Capza
- Industry
- IT Services
- Location
- Île-de-France, France
- Type
- Growth capital
TowerBrook has made a minority investment in Talan, with historical investor Capza fully exiting. Talan's management remains majority owner; the capital will support international expansion and accelerate growth as the company pursues its ambition to reach €1 billion in revenues.
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July 14, 2020
- Buyer
- Riordan, Lewis & Haden Equity Partners (RLH)
- Target
- MCA Connect, LLC
- Industry
- IT Services
- Location
- Colorado, United States
- Type
- Growth capital
Los Angeles-based private equity firm Riordan, Lewis & Haden Equity Partners (RLH) completed an investment in Denver-based MCA Connect, a Microsoft Dynamics systems integrator that serves manufacturing and energy clients. The capital will support MCA's growth as a national Microsoft system integrator and expand its capabilities around Dynamics 365, Power Platform and analytics.
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- Buyer
- Sverica Capital Management LP, Salesforce Ventures
- Target
- Coastal Cloud LLC
- Industry
- IT Services
- Location
- Florida, United States
- Type
- Growth capital
Sverica Capital Management and Salesforce Ventures made a strategic growth investment in Coastal Cloud LLC, a Palm Coast, Florida-based Salesforce consulting and managed services provider. The capital will be used to accelerate Coastal Cloud’s growth, expand industry-specific solutions and multi-cloud capabilities, and deepen its position within commercial, public sector and nonprofit markets.
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- Buyer
- DFW Capital Partners
- Target
- IntelliSite Corporation
- Industry
- IT Services
- Location
- South Carolina, United States
- Type
- Growth capital
DFW Capital Partners completed an investment in IntelliSite Corporation, a provider of IoT-enabled surveillance, monitoring and computer-vision solutions. The investment will support IntelliSite’s service capability expansion and growth (including potential acquisitions) and coincides with the appointment of Ken Mills as CEO.
-
- Buyer
- Knox Capital Holdings, LLC
- Target
- Collabtech Group
- Industry
- IT Services
- Location
- Arizona, United States
- Type
- Growth capital
Knox Capital Holdings, LLC has made a strategic investment in Collabtech Group to accelerate the collaboration-technology services company’s international expansion and scale its workforce and infrastructure. The capital will support hiring across HR, accounting and sales at Collabtech’s Arizona location as the firm expands its global presence and managed services offering.
-
- Buyer
- TA Associates, Basil Technology Partners
- Target
- Accion Labs
- Industry
- IT Services
- Location
- Pennsylvania, United States
- Type
- Growth capital
TA Associates has completed a strategic growth investment in Accion Labs, joining existing investor Basil Technology Partners. The capital will support Accion's continued organic growth and M&A-driven expansion as the digital engineering firm scales its U.S. and European presence.
-
- Buyer
- Baird Capital
- Target
- Aura Futures, Karlson, Intevi
- Industry
- IT Services
- Location
- England, United Kingdom
- Type
- Growth capital
Baird Capital, the direct investment arm of Baird, has made a growth investment in London-based Aura Futures, a workspace technology platform formed by combining Karlson and Intevi. Baird partners Andrew Ferguson and Michael Holgate will join the Aura board to support platform build-out and future add-on acquisitions; financial terms were not disclosed.
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March 9, 2020
- Buyer
- Bowmark Capital
- Target
- Focus Group
- Industry
- IT Services
- Location
- United Kingdom
- Type
- Growth capital
Bowmark Capital has acquired a significant minority stake in Focus Group, a UK provider of communications and IT managed services, and is providing more than £150 million of additional funding to accelerate Focus Group’s acquisition-led growth strategy. Focus Group delivers hosted voice, cloud applications, mobile, connectivity and IT services to over 15,000 businesses, with revenues above £80 million and roughly 300 employees.
-
- Buyer
- LNC Partners
- Target
- Digital Intelligence Systems, LLC (DISYS)
- Industry
- IT Services
- Location
- Virginia, United States
- Type
- Growth capital
LNC Partners completed a strategic growth investment in Digital Intelligence Systems, LLC (DISYS), a McLean, Virginia–based provider of IT staffing, consulting, and managed services. The capital will support DISYS’s growth strategy and expand its ability to serve Fortune 500 and other global-scale enterprise clients.
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- Buyer
- Morgan Stanley Expansion Capital
- Target
- cPacket Networks
- Industry
- IT Services
- Location
- California, United States
- Type
- Growth capital
cPacket Networks raised a $15 million growth equity investment from Morgan Stanley Expansion Capital to accelerate product innovation and customer growth. The funding will support expansion of cPacket's high-performance network visibility products and AIOps-driven analytics for hybrid/multi-cloud, data center and branch environments.
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February 21, 2020
- Buyer
- Abry Partners
- Target
- Asignet
- Industry
- IT Services
- Location
- New Jersey, United States
- Type
- Growth capital
Boston-based private equity firm Abry Partners completed a significant growth investment in Asignet, a Parsippany, New Jersey‑based provider of RPA-driven IT and telecom lifecycle expense management software and managed services. The capital will accelerate product development and the upcoming launch of Asignet’s Robot4IT platform, and support expansion of its ITAM, SaaS, Cloud, and ITSM offerings.
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February 10, 2020
- Buyer
- LDC
- Target
- Solid Solutions
- Seller
- BGF
- Industry
- IT Services
- Location
- Warwickshire, United Kingdom
- Type
- Growth capital
LDC has made a minority growth investment in Solid Solutions, the UK and Ireland's leading reseller of SOLIDWORKS, to accelerate organic growth and pursue complementary acquisitions. Existing backer BGF will exit its minority stake; Solid Solutions (headquartered in Leamington Spa) employs over 230 people, operates from 23 offices and generates annual revenue in excess of £50 million.
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- Buyer
- Stone-Goff Partners, Five Points Capital
- Target
- Adar (Adar Inc./Adar Holdings, Inc.)
- Industry
- IT Services
- Location
- Illinois, United States
- Type
- Growth capital
Stone-Goff Partners has made an investment in Adar (Adar Inc./Adar Holdings), a Skokie, Illinois‑based provider of outsourced IT-as-a-Service (ITaaS) for SMBs. Five Points Capital provided unitranche financing and an equity co-investment to support the transaction; proceeds will fund Adar's growth initiatives including expansion of sales and marketing and rollout of a new Azure-based offering.
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January 7, 2020
- Buyer
- Cohere Capital
- Target
- ClearScale
- Industry
- IT Services
- Location
- California, United States
- Type
- Growth capital
Boston-based private equity firm Cohere Capital has completed a strategic growth investment in ClearScale, a San Francisco–based cloud-native systems integrator and application development firm. The investment will fund ClearScale's expansion of managed services, sales, marketing and service delivery capabilities, and growth of its data analytics and machine learning practices across additional U.S. locations.
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January 7, 2020
- Buyer
- Abry Partners
- Target
- Options (Options Technology)
- Industry
- IT Services
- Location
- England, United Kingdom
- Type
- Growth capital
Abry Partners, a Boston-based private equity firm, has made a significant growth investment in Options, a London-headquartered provider of cloud-enabled managed IT services to the global capital markets. The deal will fund Options’ accelerated growth strategy, strategic M&A, further investment in its technology platform and expansion into key financial centers globally; terms were not disclosed.
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- Buyer
- Capitala Group, Members of Source Support senior management (including CEO Mike Stolz)
- Target
- Source Support Services
- Seller
- Mark Oldfield
- Industry
- IT Services
- Location
- Georgia, United States
- Type
- Growth capital
Capitala Group has made a growth investment in Source Support Services, acquiring the company alongside members of Source Support's senior management from founder Mark Oldfield. The capital will be used to scale Source Support’s global platform, expand into information, medical and industrial automation technology markets, and enhance its service and technology capabilities.
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January 5, 2020
- Buyer
- Horizon Capital
- Target
- Sapphire Systems Limited
- Industry
- IT Services
- Location
- England, United Kingdom
- Type
- Growth capital
Horizon Capital has made an investment in Sapphire Systems Limited, a UK-based provider of ERP and financial management solutions and a partner of SAP and Infor. The funding will support Sapphire's organic growth and buy-and-build strategy — accelerating expansion, enhancing support/hosting capabilities and pursuing complementary acquisitions.
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