Mill Point Capital Completes the Sale of Verinext

DULUTH, Ga.--(BUSINESS WIRE)--Mill Point Capital LLC (“Mill Point”), a private equity firm focused on control investments in middle-market companies in North America across the Business Services, Industrials and IT Services sectors, announced today the sale of Verinext Corp. (“Verinext” or the “Company”), a leading IT services platform providing end-to-end technology solutions for mid-market and enterprise clients, to Arctiq, Inc. (“Arctiq”), a leading provider of professional IT solutions and managed services.

“It has been a pleasure partnering with the Verinext management team and dedicated employees. Their relentless efforts have transformed the Company into a scaled and diversified platform centered on high-growth technology areas and capabilities, while meeting the increasing demands and needs of their customers. We look forward to their continued success alongside Arctiq,” said Michael Duran, Managing Partner at Mill Point.

Verinext Chief Executive Officer Brian Glahn added, “With Mill Point’s guidance and support, we have successfully completed many strategic and value enhancing initiatives across all areas of our business. I am proud of the accomplishments of our team and believe we are well positioned to continue the momentum in our next chapter with Arctiq.”

“Brian and the Verinext team have been critical partners over the years. The entire organization’s dedication to Verinext has been clear, and we look forward to seeing the Company reach even greater heights,” commented Michael Perdue, Executive Partner of Mill Point.

Guggenheim Securities acted as the exclusive financial advisor to Verinext and McDermott Will & Schulte acted as legal advisor to Verinext.

About Verinext

Verinext delivers transformative business outcomes through technology and services so customers are ready for everything that comes next. From intelligently automating time-consuming tasks and protecting data assets to securing infrastructure and improving customer experiences, Verinext activates the innovation that makes technology truly work so businesses can make their next move with confidence. For more information, please visit www.verinext.com.

About Arctiq

Arctiq is a global, intelligence-driven technology services firm delivering professional and managed services across Enterprise Security, Modern Infrastructure, and Autonomous Operations & Intelligence. Arctiq helps organizations operate, secure, and modernize complex environments by unifying infrastructure, networking, data, security, automation, and observability under a single, integrated operating model. Arctiq’s work focuses on helping customers reduce operational friction, improve resilience, and make better, faster decisions as their environments evolve. For more information, please visit www.arctiq.com.

About Mill Point

Mill Point is a private equity firm focused on control investments in lower-middle market companies across the Business Services, Industrials and IT Services sectors throughout North America. Mill Point’s experienced team of investment professionals, Executive Partners and Functional Experts seeks portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.