H.I.G. did not indicate if they've gained majority control of Eze Castle Integration. I suspect the investment therefore represents a minority position in the MSP.
Eze Castle Integration CEO John Cahaly, in a prepared statement, said:
"Eze Castle Integration is at an exciting time in its evolution as the market demand for the company's managed services is at an all-time high across the entire financial sector and beyond. The investment by H.I.G. will support the company's next phase of product innovation, continued global expansion and increased sales execution and reach."
The company did not indicate whether the private equity funding will be used for potential acquisitions.
Eze Castle Integration: Company History, Focus
Eze Castle, founded in 1995, has roughly 650 customers across the United States, United Kingdom and Asia. Pushing beyond traditional remote IT services monitoring, the company recently launched Eze Hybrid Cloud platform, which combines the security and control of a private cloud platform with the application flexibility of the Microsoft Cloud, the company says. Also, the MSP has been extending beyond the financial services sector, Eze Castle indicates.
The company's products and services portfolio includes:
- Cloud Services;
- Managed Cyber Security Solutions
- Technology Consulting
- Outsourced IT Support
- Project & Technology Management
- Professional Services
- Telecommunications & Voice over IP
- Business Continuity Planning and Disaster Recovery, Archiving, Storage and Colocation.
Private Equity Firms and MSP Investments
This is the latest in a growing list of MSPs that have received private equity funding. Private equity deals that surfaced in May 2018 included:
- Abry Partners merged Breakthrough Technology Group (BTG) and NexusTek, two cloud-focused MSPs.
- Private equity firm Symphony Technology Group (STG) has acquired Winshuttle Holdings, an SAP partner and solutions provider focused on data automation.
- Mayfair Private Equity UK-based GCI, a major communications and telecom service provider.