CIVC Partners, L.P. (“CIVC”), a Chicago-based middle market private equity firm focused on investments in the business services sector, is pleased to announce its investment in Highstreet IT Solutions (“Highstreet” or the “Company”) in partnership with CEO Nick Magliato, CFO Ben Davies, and the Highstreet management team.
Highstreet, headquartered in Rockville, Maryland, is a rapidly growing, cloud-focused Oracle implementation and managed services provider offering services across a client’s entire cloud lifecycle. The Company provides a full suite of services, from up-front strategy and design assessments, to implementing and migrating to cloud environments, to long-term managed services. The entire Highstreet management team will remain in place following the transaction. For additional information about Highstreet,
“We are thrilled to be partnering with a team at CIVC that shares our vision for Highstreet,” said CEO Nick Magliato. “CIVC has been an active investor in the IT services sector and has the resources and capabilities to help us execute on our growth strategy while continuing to provide unmatched services to our clients.”
Also Read: Arity Launches Arity IQSM on Google Cloud’s Analytics Hub
Marc McManus, Partner at CIVC, commented, “Highstreet is a rapidly growing implementation and managed services provider with an exceptional track record of exceeding client expectations driven by deep technical expertise and end user focus. We are excited to partner with Nick and Ben to support the Company in accelerating organic growth and pursuing strategic acquisitions.” Andrew Roche, Principal at CIVC, added, “Highstreet is an exciting investment opportunity for CIVC and a strong fit with our experience investing in high-growth service-oriented businesses.”
The partnership with Highstreet builds on CIVC’s investment experience in IT services. Other representative investments include Datavail (data managed services), Industrial Networking Solutions (industrial IoT solutions), Allata (digital engineering services), iVision (managed IT services), and KeyData (cybersecurity services).
Kirkland & Ellis LLP served as legal counsel to CIVC on the transaction. Guggenheim Securities acted as Highstreet’s financial advisor, and Winston & Strawn LLP served as legal counsel to Highstreet.
SOURCE: PRNewswire