Great Hill Partners said June 26 that it agreed to sell its stake in Symmetry Holding Inc to Secure-24 Intermediate Holdings Inc. Financial terms weren’t announced. Secure-24 is a unit of NTT Communications. Symmetry provides enterprise application management, hybrid cloud services and GRC software solutions with a SAP focus.
Great Hill Partners Agrees to Sell Symmetry Holding, Inc.
BOSTON – June 26, 2019 – Great Hill Partners, a leading growth-oriented private equity firm, today announced that it has entered into a definitive agreement to sell its interest in Symmetry Holding, Inc. (“Symmetry”), a leading U.S.-based provider of mission-critical enterprise application management, hybrid cloud services and GRC software solutions with a SAP focus. Financial details of the private transaction with Secure-24 Intermediate Holdings, Inc., a wholly owned subsidiary of NTT Communications, were not disclosed.
Founded more than 20 years ago in Brookfield, Wisconsin, Symmetry delivers extensive expertise in SAP managed services to large enterprise clients in diverse industries including consumer products, life sciences, manufacturing and high-tech in the U.S., the world’s largest market for managed services. Symmetry also offers migration and operations services for SAP® S/4 HANA, as well as comprehensive governance, risk and compliance software solutions that help reduce the total cost of ownership and maximize the performance and security of our customers’ most mission critical systems.
“We want to congratulate Symmetry’s management team for this milestone, which highlights their success driving sustainable growth in a rapidly changing marketplace,” said Drew Loucks, Principal, Great Hill Partners. “As a result of a fantastic partnership, intuitive market knowledge and high-touch client-centric business model, Symmetry is well-positioned to continue driving the evolving IT strategies of next generation enterprises.”
“For over 20 years, Symmetry has been committed to delivering the highest quality SAP cloud hosting and application management services to the market and our customers,” said Pete Stevenson, Chairman and CEO of Symmetry. “We look forward to delivering even greater value to our customers with the expanded offerings and global resources that Secure-24 offers, without sacrificing the high level of support and commitment to success our team executes on and our customers have come to expect.”
Great Hill Partners received financial advice from William Blair and legal advice from Choate Hall & Stewart on the transaction.
About Great Hill Partners
Great Hill Partners is a private equity firm that has raised over $5 billion in commitments since inception to finance the expansion, recapitalization, or acquisition of growth companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to $200 million. For more information, visit www.greathillpartners.com.
Secure-24, an NTT Communications Company, has 18 years of experience delivering mission critical application hosting, comprehensive managed IT, and cloud services to enterprises worldwide. Secure-24’s focus on superior service, support, governance and compliance has driven industry-leading client satisfaction rates. The company is an SAP certified Hosting, HANA, and Cloud Partner, a Microsoft Gold Partner and an Oracle Gold Partner managing Oracle E-Business Suite, PeopleSoft, JD Edwards and Hyperion applications across all industries for businesses of every size. Secure-24 has been named one of Computerworld’s 100 Best Places to Work in IT for six consecutive years. Visit www.secure-24.com to learn more about Secure-24 products and services.