NEW YORK | October 27, 2021 – Coretelligent, a leading managed IT solutions company and a portfolio company of VSS, announced their majority sale to Norwest Equity Partners. Drake Star Partners served as the sell-side advisor for the shareholders of Coretelligent on the transaction.
Founded by Kevin J. Routhier in 2006, Coretelligent provides top-tier organizations with the services they need to thrive in today’s digital economy through a comprehensive suite of managed and co-managed white glove IT support, cybersecurity, backup and disaster recovery, and cloud services. Since 2016 the company has more than tripled in size and has completed three add-on acquisitions that further strengthened their vertical expertise within financial services and allowed them to expand geographically.
“Jeff and Drake Star’s unparalleled experience in the IT Services Sector made them a perfect partner in managing an intricate process and achieving an extraordinary outcome,” said Kevin Routhier, CEO at Coretelligent. “The guidance they provided throughout the process from due diligence to closing delivered the assurance and support that was instrumental to our collective success” he added.
Trent Hickman, Partner at VSS, added, “Jeff Baker and his team at Drake Star did a superb job leading the sale process with Coretelligent and were a pleasure to work with throughout the process. However, what may be less recognized is all of Jeff’s help and guidance over the course of our investment, where his industry knowledge, contacts, and tenacity proved invaluable as we built the company. We very much look forward to working with Jeff again.”
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Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.