Private investment firm Charles Thayne Capital (CTC) has acquired managed cloud services provider and AWS partner nClouds alongside the company’s CEO Shaun Ritchie. Financial terms of the deal were not disclosed.
This is technology M&A deal number 470 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Charles Thayne Capital Acquires nClouds
Headquartered in the San Francisco Bay area, nClouds serves start-up, small and medium business (SMB) and enterprise customers across a range of industries. The company’s customers include Alation, E. & J. Gallo, Lucid Group, Shell, Siden and the state of California, among others.
nClouds is an AWS Premier Tier Services Partner with specialties in the areas of DevOps, cloud migration and modernization, including infrastructure-as-a-service (IaaS), containerization and serverless computing.
Shaun Ritchie will lead nClouds as its CEO in its next phase of growth, the company said. Jatinder "JT" Giri, nClouds' co-founder, will remain with the company as an advisor, according to the company.
CTC Acquires nClouds: Accelerating Growth
Shaun Ritchie, CEO, nClouds, commented:
"I am thrilled at the opportunity to join the nClouds team. JT has built an exceptional organization with differentiated delivery capabilities and scalable process that maintains superior quality. The addition of Scott, Kelly, and Adam to the talented team already in place will allow us to accelerate growth and deliver even more value to customers."
In a blog post announcing the sale, Ritchie said the company will continue to invest in its employees:
“For nine years, nClouds has been a remote-first organization, enabling it to find and develop talent on a global scale. While talent is relatively evenly distributed, I deeply believe that opportunity should be more evenly distributed. Therefore, I also believe that if we provide opportunities to talented individuals wherever they are, we’ll be able to unlock massive value. We would include the concept of an internal “university” to continue training and developing that talent, and create more of it.”
Brian Gornick, co-founder and managing partner, CTC, added:
"We believe that we are still in the early innings of the transition to the public cloud, and we expect high growth rates in the sector to continue. We couldn't be more excited about the team we are partnering with and the opportunities ahead for nClouds."
About Charles Thayne Capital
Charles Thayne Capital is a growth-oriented investment firm focused on market-leading technology and technology-enabled companies.
CTC provides minority and majority investment capital to companies that are at a significant inflection point in their growth journey, according to its website.
