Coretelligent and VSS Announce Acquisition of United Technology Group, LLC by Coretelligent
Westwood, MA – April 3, 2019 – Coretelligent, a leading provider of comprehensive managed IT and private cloud services, and portfolio company of VSS, a private investment firm, today jointly announced the acquisition of managed services IT firm United Technology Group, LLC by Coretelligent. Financial terms of the private transaction were not disclosed.
United Technology Group specializes in co-managed technology services, including cybersecurity, professional services, hardware and software sourcing. United Technology Group is a leading cloud reseller and IT managed services provider in the Southeast, offering collaborative support and business technology alignment to a broad base of customers in the region.
With this acquisition, Coretelligent cements their nationwide reach by adding an office in Atlanta, joining the four current Coretelligent locations including their Boston headquarters and offices in New York, Philadelphia and San Francisco. The acquisition brings together two organizations that are focused on creating a superior service model for their clients and extends Coretelligent’s White Glove service model throughout the Southeast. “Coretelligent’s focus on being a true partner for our clients means always looking for ways to improve our service offerings and depth of knowledge. Our acquisition of UTG reinforces our commitment to support organizations in high-touch sectors such as financial services and health sciences with technology support and security services that they can trust”, states Coretelligent Founder and CEO, Kevin J. Routhier. Routhier will serve as President and CEO of the combined companies.
“UTG’s comprehensive managed services offering and long-tenured customer base in the Southeast is a great fit for Coretelligent,” said Trent Hickman, Managing Director, VSS. “The acquisition reflects VSS’s ability to partner with outstanding management teams to identify and execute upon growth opportunities, both organic and through strategic acquisitions, that improve the growth trajectory of their businesses.”
Hickman said that several UTG leaders will be joining Coretelligent’s Executive Team in the coming months, including Brian Miller, President of UTG and Eric Dykes, CEO of United Technology Group.
“United Technology Group has developed core competencies and deep client relationships that will only be enhanced by the national platform and technology resources that will now be accessible as it joins Coretelligent. Today’s announcement is very good news for our clients and for our team”, states Price Harding, Chairman of United Technology Group and Founding Partner at CarterBaldwin Executive Search. Brian Miller, who will be joining Coretelligent’s Executive Team as SVP Business Development, Southern Region, notes: “The connections that we have formed as a part of United Technology Group will thrive with the addition of Coretelligent’s robust suite of resources to our services lineup. Clients will appreciate the consistency of continuing to work with their known partners, while gaining access to world-class tools and advanced security processes from Coretelligent.”
“It is always crucial for our clients to feel confident that their needs will be considered during an acquisition,” states Eric Dykes. “My new role as SVP Operations, Southern Region, for Coretelligent will allow me to weave together best practices from both organizations in a way that supports the needs of our constituents while causing minimal disruption to operations.”
The acquisition brings together the two organizations under the name Coretelligent, resulting in an expanded base of 140 full-time employees.
VSS has strong experience investing in lower middle market companies, including information technology businesses where its flexible capital approach to investing can be used to support growth through strategic acquisitions and other transactions. The firm invested in Coretelligent in October 2016.
Coretelligent is a leading provider of comprehensive managed IT, Security and cloud services, enabling organizations to seamlessly power and successfully grow their businesses. Founded in 2006 and led by world-class experts, Coretelligent’s key services – Managed IT, Security and Cloud Solutions – are relied on by top-tier organizations in the financial services, life sciences, legal and technology industries among others. Coretelligent and its team are recognized as leaders by the Boston Business Journal, CRN, Inc., MSPmentor and the U.S. Chamber of Commerce. It is headquartered in Westwood, Mass., with offices in New York City, Philadelphia and the San Francisco Bay area. For more information, please visit www.coretelligent.com or follow us on Twitter, Facebook & LinkedIn.
VSS is a private investment firm that invests in the information, education, healthcare, and tech-enabled business services industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions, and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. For more information, please visit: www.vss.com.