FORT WASHINGTON, Pa. & PROVIDENCE, R.I.--(BUSINESS WIRE)--Nautic Partners (“Nautic”) is pleased to announce that it has finalized the recapitalization of IT Solutions Consulting, Inc. (“ITS”), a market-leading managed information technology (IT) service provider servicing commercial clients throughout the northeast, in partnership with ITS management.
Headquartered in Fort Washington, PA, ITS is a full-service IT services company providing network management and support as well as custom application and web development services to clients across the Greater Philadelphia and Mid-Atlantic regions for more than 25 years. The new partnership is expected to further support investment in ITS’ innovative technology and capabilities in core areas such as delivery, customer success, technical talent, and new technologies. The team further intends to expand core solution offerings into adjacent solutions such as cybersecurity and cloud, and will leverage these investments to accelerate its geographic expansion.
Garrett Graney, ITS’ Chief Executive Officer, said, “I am incredibly proud of the culture and success our employee owners have achieved at ITS over its 25-year history. We are excited to announce the partnership with Nautic, particularly given their experience and relationships within the managed IT and security services landscape. The partnership has highlighted our shared vision of serving businesses across the country while maintaining an employee ownership culture and service excellence.”
Jim Higgins, Vice President of Sales and Marketing, added, “Our team is excited for the Nautic investment that will further enhance our market-leading ability to deliver the expertise and support our clients rely on to manage and protect their IT environment.”
Mark Perlberg, Managing Director at Nautic, said, “Our investment in ITS expands on our commitment to supporting best-in-class management teams across the managed IT service landscape. We have been thoroughly impressed with the culture and team ITS has developed across its rich history, and are eager to empower the team to drive future growth, both organically and via strategic M&A.”
“Nautic remains active in evaluating and partnering with industry-leading managed IT and security service providers, and we are excited for the ITS team to join the portfolio. We believe ITS represents a differentiated platform given its entrepreneurial and accountable culture that has fostered a high level of commitment to client delivery and success,” S. Shahan Zafar, a Managing Director of Nautic, added.
Charlson Braber McCabe & Denmark along with Menke & Associates served as legal advisors to ITS and their ESOP shareholders. Locke Lord LLP served as legal advisor to Nautic.
ITS is a leading managed services provider with a focus on proactive and strategic support for small and mid-market businesses. Founded in 1994 by Ted Swanson and headquartered near Philadelphia, PA, ITS partners with clients to align technology with business goals, secure data and networks, and improve processes through tailored, innovative solutions. In addition to providing comprehensive managed IT services, ITS offers cybersecurity, cloud, custom application development, and business intelligence services. Visit www.itsolutions-inc.com to learn more.
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrials, and services. Nautic has completed over 150 platform transactions throughout its 35-plus year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. For more information, please visit www.nautic.com.