Drake Star Partners Advises Thrive Networks On Its Recapitalization With Court Square Capital

  • Year
  • Sector
    Digital Services Managed IT
  • Our Mission
    Exclusive Financial Advisor to Thrive Networks

NEW YORK | February 8, 2021 – Thrive Networks, a leading provider of technology managed services announced its recapitalization with Court Square Capital Partners. M/C Partners and the company’s management team are continuing to participate with a substantial ownership stake alongside Court Square.

Drake Star Partners acted as the exclusive financial advisor to Thrive Networks and its shareholders.

This transaction will reinforce Thrive’s prominent market position and help accelerate investments in next generation technologies including ServiceNow, automation and AI. The company is looking to expand its customer success, sales and marketing teams, technical talent, Cybersecurity and other product offerings both organically as well as via acquisitions.

“Thrive is proud to have built a company whose business model has been validated by a sophisticated technology services investor with a strong track record like Court Square.” said Rob Stephenson, Thrive CEO. “Our goal has always been to be viewed as a leader in the managed services space and this partnership will greatly benefit our existing customers, as well as provide an opportunity to expand our Cloud, Cybersecurity and ServiceNow-Powered Next Generation Managed Services Platform to new clientele.”

“Court Square is excited about the opportunity to partner with Thrive’s management team to continue to grow their managed services practice.” said Jeff Vogel, Managing Partner at Court Square. “We’ve been actively pursuing an investment in this space for a long time and believe Thrive’s NextGen Platform provides a differentiated competitive edge in the marketplace,” added Matt Dennett, Principal at Court Square.

Jeff Baker, Managing Partner at Drake Star Partners, said: “We are excited to be part of one of the largest pure play MSP transactions to date. Rob and his team along with M/C Partners have built one of the leading platforms in the segment and we expect this transaction to kick off a wave of consolidation in 2021.”


For further inquiries, please contact

Gregory Bedrosian
Managing Partner & CEO | Drake Star 

gregory.bedrosian@drakestar.com, +1-203-524-5652 

About Thrive Networks

Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application takes advantage of technology that enables peak performance, scale, and the highest level of security.

For more information, please visit thrivenextgen.com.

About Court Square

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York, N.Y.

For more information, please visit, www.courtsquare.com

About M/C Partners

M/C Partners is a private equity firm focused on small and mid-size businesses in the communications and technology services sectors. For more than three decades M/C Partners has invested $2.2 billion of capital in over 130 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and empowering strong leaders to accelerate growth, optimize operations, and build long-term value.

For more information, please visit www.mcpartners.com

About Drake Star Partners

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.


*Partner Offices