Private Equity Firm Invests In Canadian VAR, Managed Cloud Provider
Decisive Technologies (a Canadian VAR) and sister company BriteSky Technologies (a managed cloud services provider) have attracted private equity funding from Third Century Investment Associates. The deal also includes funding from Roynat Capital Inc., the companies have confirmed.
Decisive is an enterprise IT infrastructure solutions company that partners closely with major names like Cisco Systems, Dell EMC and VMware, among many others.
Decisive spun out BriteSky Technologies as an enterprise cloud provider in 2013. Details about the BriteSky vision are here:
BriteSky and Decisive are now affiliate companies, and they continue to share some staff and resources, according to Ottawa Business Journal.
Although financial figures are undisclosed, it sounds like both firms wanted to accelerate their growth. So the firms turned to FirePower Capital Corp.. an entrepreneurial investment bank and investor, for advice on how to move forward. FirePower, in turn, provided advice on the private equity funding and financing.
Decisive President Mike Smith tipped his hat to FirePower’s guidance, and expects the Third Century investment to fuel more company growth. Smith in a prepared statement said:
“We’ve had great success in building the business organically over the past five years. But we reached a juncture where we needed access to additional capital to help accelerate the company’s growth. FirePower worked hard to understand our priorities. Our deal with Third Century fits our objectives and allows us to continue to build the company with an investor that shares our vision. In addition to finding a buyer that recognized the potential in our company, FirePower’s investment banking team guided us through essential discussions to ensure our values and vision were aligned with that of the buyer.”
We’ll be watching for next moves.