Middle-market private equity firm CenterGate Capital has acquired Cartridge Technologies (CTI), a portfolio company of Broadtree Partners, a lower-middle-market private equity firm. DC Advisory acted as the sell-side representative for CTI and Holland & Knight served as legal advisor to Broadtree and CTI. Financial terms of the deal were not disclosed.This is technology M&A deal number 287 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.CenterGate Capital, founded in 2014, is based in Austin, Texas. The company has 23 employees listed on LinkedIn. CenterGate Capital's areas of expertise include Private Equity, LBO, MBO, Structured Equity, Special Situations, and Distressed.
Cartridge Technologies, founded in 1990, is based in Rockville, Maryland. The company has 22 employees listed on LinkedIn. Cartridge Technologies' areas of expertise include Copy, Print, Scanning, Document Solutions, Workflows, Cloud fax, Secure e-mail, Lease/Purchase, Federal Focus, Managed Print Solutions, and Security Software.CTI is a federal government contractor and provides highly secure managed print services to over 200 unique clients across all 50 U.S. states. The acquisition will enable further growth for CTI, according to the companies.Brad Batten, Managing Partner at Broadtree, commented on the news:
“We are proud to have partnered with the CTI founders and team on what has been an incredibly successful chapter in CTI’s history. Colin Murphy’s leadership and the strength of the CTI team have carried forward the founders’ legacy and propelled the business to achieve great things.”CTI CEO Colin Murphy said:
“I am very proud of what the CTI team has been able to accomplish. CTI has become a premier managed print services provider to the federal government, and we are excited to partner with CenterGate for our next phase of growth.”
Cartridge Technologies, founded in 1990, is based in Rockville, Maryland. The company has 22 employees listed on LinkedIn. Cartridge Technologies' areas of expertise include Copy, Print, Scanning, Document Solutions, Workflows, Cloud fax, Secure e-mail, Lease/Purchase, Federal Focus, Managed Print Solutions, and Security Software.CTI is a federal government contractor and provides highly secure managed print services to over 200 unique clients across all 50 U.S. states. The acquisition will enable further growth for CTI, according to the companies.Brad Batten, Managing Partner at Broadtree, commented on the news:
“We are proud to have partnered with the CTI founders and team on what has been an incredibly successful chapter in CTI’s history. Colin Murphy’s leadership and the strength of the CTI team have carried forward the founders’ legacy and propelled the business to achieve great things.”CTI CEO Colin Murphy said:
“I am very proud of what the CTI team has been able to accomplish. CTI has become a premier managed print services provider to the federal government, and we are excited to partner with CenterGate for our next phase of growth.”
