Court Square-backed Thrive swoops in to buy Storagepipe

• Thrive is a US provider of cybersecurity, cloud and digital transformation managed services
• Storagepipe is the company’s third acquisition based outside of the US since 2021
• Two years ago, Court Square completed a majority recapitalization of Thrive

Thrive, a portfolio company of Court Square Capital Partners, has acquired Storagepipe, a Toronto-based cloud, data protection, managed services, and cybersecurity provider. No financial details of the transaction were disclosed.

Founded in 2001, Storagepipe provides IT infrastructure services with a scalable multi-tenant architecture delivered from data centers in Canada, the US and the United Kingdom.

Thrive is a Foxborough, Massachusetts-based provider of cybersecurity, cloud and digital transformation managed services.

Storagepipe is Thrive’s third acquisition based outside of the US since 2021. It will further expand the company’s global presence, Thrive said in a statement.

“Thrive is excited to welcome Storagepipe to help accelerate our rapidly expanding international footprint, especially in Toronto as a key financial services hub,” said Rob Stephenson, CEO of Thrive. “Storagepipe’s growing customer base across multiple industries in the enterprise, mid-Market and SMB will add tremendous value to Thrive’s managed services, cloud and cybersecurity offerings in the Canadian market.”

In 2021, Court Square Capital Partners completed a majority recapitalization of Thrive. The company’s then existing sponsor, M/C Partners, retains an interest.

Based in New York, Court Square is a growth investor focused on the US mid-market.