NEW YORK | LONDON | PARIS | MUNICH | LOS ANGELES | BERLIN | AMSTERDAM | GENEVA | TOKYO | December 8th, 2016 – Coretelligent, a leading provider of private cloud and IT managed services and support to small and mid-sized businesses, announced that VSS has made an investment in the company. VSS is investing in partnership with Coretelligent’s existing management team, which will continue to build and support the comprehensive managed IT and private cloud services that have led the company to more than triple revenue over the past 3 years.
Founded in 2006 by Kevin J. Routhier, Coretelligent has successfully enabled private equity, venture capital, life sciences, legal services and real estate development firms to grow their business by seamlessly powering their infrastructure and cater to all their IT needs. Coretelligent has been named to the Inc. 5000 list of fastest growing companies in the U.S. for five consecutive years and is also consistently recognized in prominent industry publications, including MSP Mentor, where it ranked #21 in the tier one total service provider list, and The Channel Company’s 2016 CRN Fast Growth 150 list, where it ranked #19.
Coretelligent provides its services through 5 principal product lines – 360 Support, a suite of support, monitoring and managed solutions that secure and enhance IT operations; CoreCloud, an Infrastructure-as-a-Services (“IaaS”) platform fully managed and engineered for high availability, seamless transition, rapid deployment and enhanced security; CoreBDR provides data protection and recovery available for hosted on-premise or in the cloud environments, leveraging EMC Data Domains for storage and Veeam for back/recovery processing; CoreArmor, a state-of-the-art suite of cyber security services; and ManagedIT is a customized technology solution to improve existing network or server designs and build new corporate infrastructure.
Drake Star Partners (www.drakestar.com), a leading independent investment bank serving technology, media, communications and business services companies, served as the exclusive financial advisor to Coretelligent in this transaction.
Kevin J Routhier, Founder and CEO of Coretelligent said, “Jeff Baker and the entire Drake Star team did an outstanding job of supporting myself and Coretelligent through what has been our most important endeavor to date. They commanded a stellar process as we looked to find the right partner to help us amplify Coretelligent’s leadership position in the space and sharply focus on continued growth. The result we achieved was remarkable. Jeff and the Drake Star team provided the perfect combination of masterful negotiation and a perspective of real world advisement rooted in a deep understanding of Coretelligent’s market and relative opportunity.”
“It was a pleasure partnering with Kevin and the team at Coretelligent to help them achieve this outcome and position the company for its next phase of growth. They have built a leader in the managed services marketplace and are well positioned to maintain that leadership role with the support of VSS as their partner.” – Jeff Baker, Partner at Drake Star Partners.
For further inquiries, please contact
Gregory Bedrosian - Managing Partner & CEO | Drake Star
About Coretelligent, LLC
Coretelligent (www.coretelligent.com) is a leading provider of comprehensive managed IT and private cloud services, enabling organizations to seamlessly power and successfully grow their businesses. Founded in 2006 and led by world-class experts, Coretelligent’s five key services – 360 Support, ManagedIT, CoreCloud, CoreBDR and CoreArmor – are relied on by top-tier organizations in the communications, education, financial services, life sciences, retail, 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
VSS (www.vss.com) is a leading private investment firm that invests in the information, education, healthcare IT and tech-enabled business services sectors in North America and Europe. VSS provides capital for growth, 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. It has previous investment experience in the IT services space, including its investments in Hostway, a provider of web hosting and global hosting solutions, and IT-Ernity, a provider of business critical manager services and shared hosting for small and mid-sized businesses in the Netherlands.
VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine and structured equity securities.
For more information, please visit www.vss.com
About Drake Star Partners