Synoptek Announces Majority Investment From Quad-C Management
IRVINE, Calif.--(BUSINESS WIRE)--Sep 27, 2022--
Synoptek, a leading global business and digital transformation advisory and consulting firm, today announced a majority recapitalization with a leading mid-market private equity firm, Quad-C Management, Inc. (“Quad-C”). Quad-C’s experience investing in high-growth service firms like Synoptek will support its growth initiatives and its ability to drive even more substantial business results and digital transformation for its valued customers.
“As customers move to cloud platforms, Synoptek has grown its capabilities to deliver more value and Quad-C’s investment will be instrumental in our continued organizational expansion,” said Tim Britt, Synoptek’s Chief Executive Officer. “This investment will enable us to grow and extend our service offerings for clients as well as create new and strategic career opportunities for our team. The partnership is a strong fit for us both.”
“We are honored to partner with Tim Britt and his team at Synoptek who have done a remarkable job scaling the business over the past few years,” added Jack Walker, Partner at Quad-C. “This platform is ideally positioned to capitalize on the continued digital transformation of the economy, and we look forward to working closely with the team to drive outsized growth for the company and deliver even better outcomes for their clients.”
Synoptek’s former private equity partner, Sverica Capital Management (“Sverica”), invested in the company in 2015 and has plans to remain a minority stakeholder moving forward. Canaccord Genuity served as financial advisor to both Synoptek and Sverica.
Sverica’s funding was a catalyst in the significant growth that Synoptek experienced since 2015 and the full-service business technology and digital solutions provider anticipates additional organic and M&A expansion opportunities will be supported under Quad-C’s ownership.
Synoptek, which was recently recognized as Microsoft Partner of the Year 2022, employs over 1,000 technology professionals spanning 12 offices across the globe. Increasing demand for the firm’s elite service offerings is fueled by its results-oriented approach and the growing dependence that businesses have on technology as well as the widespread adoption of cloud platforms such as Microsoft Dynamics, Microsoft Azure, Microsoft 365, ServiceNow, Salesforce, AWS, and Google G-Suite.
“We are excited for the future of what this partnership with Quad-C holds and know that it will be a driving force in helping us advance the digital transformation needs of every customer we serve,” concluded Britt.
To learn more, visit www.synoptek.com.
About Synoptek: Synoptek is a global, full-service business and digital technology solutions provider and advisory firm that helps companies envision, transform and evolve. As a systems integrator and managed technology group, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their businesses. With its comprehensive offerings, global workforce and strategic technology partnerships, Synoptek helps companies grow their business while optimizing and protecting their IT ecosystem. With growth, ownership, inclusivity and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders. Discover more at www.synoptek.com, or connect with Synoptek on Facebook, Twitter, and LinkedIn.
About Quad-C Management: Founded in 1989 and headquartered in Charlottesville, Va., Quad-C is a mid-market private equity firm focused on investing in well-established business and consumer services, healthcare, industrial, specialty distribution, food & beverage and consumer products, and transportation/logistics companies. In its three-decade history, Quad-C has invested more than $4 billion of capital in 80 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. Learn more about Quad-C at www.quadcmanagement.com.
About Sverica Capital Management: Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in, and actively builds companies that are, or could become, leaders in their industries. Since its inception, Sverica has followed a "business builder" approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for investors. For more information, visit www.sverica.com.
About Canaccord Genuity: Through its principal subsidiaries, Canaccord Genuity Group Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the company has been driven by an unwavering commitment to building lasting client relationships. It achieves this by generating value for its individual, institutional, and corporate clients through comprehensive investment solutions, brokerage services, and investment banking services. The company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man, and Australia. Its international capital markets division operates in North America, the UK, Europe, Asia, Australia, and the Middle East. Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX. For more information, visit www.canaccordgenuity.com/.
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