Kelso Acquires Emtec: IT Consulting Business Background
Emtec, founded in 1995, is based in Jacksonville, Florida. The company has 1,407 employees listed on LinkedIn. Key areas of expertise include:- Applications (Enterprise, custom, mobile and cloud);
- Intelligent automation;
- Analytics;
- Cybersecurity; and
- Infrastructure services.
- Consulting firms that support cloud application migrations, mobile technology services, big data and analytics. Startups should have a path to profitability within one to two years.
- Enterprise application partners that have expertise in Oracle (minimum $3 million in EBITDA) or Salesforce (minimum $2 million in EBITDA) applications.
- Application development MSPs with at least $4 million in EBITDA.
- Infrastructure MSPs that have at least $5 million in EBITDA.
- Vertical market infrastructure MSPs in the education and high-end retail sectors.
Emtec Executive Team Unchanged, New Chairman Arrives
Emtec’s existing management team, led by CEO Sunil Misra, will continue to lead the business. The Emtec team also remains "significant investors in the company alongside Kelso," though ownership percentages and deal valuation terms were not disclosed.Also of note: John Castleman, formerly CEO of digital services firms Mobiquity and Alliance Global Services, will join Emtec’s board of directors as chairman. Former Chairman Dinesh Desai remains a board member and a "meaningful" investor in the company, the firms said.The Kelso deal arrives one year after Emtec completed a strategic refinancing with Prudential Private Capital in September 2021.Kelso Acquires Emtec: Executive Perspectives
In a prepared statement about the deal, Emtec CEO Sunil Misra said:“Emtec’s success has been made possible by our talented associates and our valued clients who trust Emtec with their most demanding digital engagements. We have developed a unique culture over our history, and we are excited to welcome a partner in Kelso who shares our passion for customer service, dedication to our associates, and commitment to investing for growth.”
“I am very proud of our amazing team and happy that our new partner, Kelso, shares our ethos of ‘client for life’. I firmly believe the Kelso partnership will help our associates scale new heights and be the best at what we do, while having fun doing it."
“Emtec has an outstanding reputation for providing highly complex digital solutions and services. We are focused on continuing to develop these differentiated capabilities while thoughtfully broadening our offering over time to address the diverse digital needs of our customers.”
“At Kelso, we look for opportunities to back high-quality managers with successful track records, and we are thrilled to partner with Sunil, John, and the Emtec leadership team."
"We are excited to support the company with additional resources and capital as it accelerates an already impressive growth trajectory in a highly attractive market."