MidOcean Partners has made a majority investment in InterVision Systems, an IT solutions and managed services provider. MidOcean made this investment alongside InterVision’s current backer Huron Capital. No financial terms were disclosed. KPMG served as financial advisor to InterVision.
NEW YORK–(BUSINESS WIRE)–MidOcean Partners, a premier middle market private equity firm focused on the business services and consumer sectors, announced today that it has made a significant majority investment in InterVision Systems, LLC (“InterVision” or the “Company”) alongside its existing financial sponsor, Huron Capital. InterVision is a leading IT solutions and managed services provider with a blue-chip client base, strong leadership team and broad service offering. The Company has a true scale platform in managed and IT professional services. MidOcean’s investment will be used to accelerate the Company’s organic growth as well as support M&A in highly strategic areas such as cloud consulting and managed services, artificial intelligence and cybersecurity services. Financial terms of the transaction were not disclosed.
InterVision was founded in 1993 and has a national presence with 10 offices and 300+ employees, servicing more than 1,500 clients from coast to coast. InterVision is a leading Strategic Service Provider offering managed services, on premise technologies, IT professional services, and cloud services to corporate and public-sector clients. Over the past four years, InterVision has acquired six companies to dramatically expand its offerings across cloud transformation, networking, collaboration, security and data center infrastructure.
Elias Dokas, Managing Director at MidOcean, commented, “MidOcean has been evaluating the IT services space for a number of years and is thrilled to partner with InterVision’s exceptional management team and Huron Capital in the Company’s next phase of growth. We believe InterVision’s end markets will continue to enjoy strong growth for years to come as companies both small and large make investments in cloud and other areas of IT infrastructure to make their businesses more efficient, scalable and dynamic. We will continue to support an aggressive acquisition plan for InterVision that focuses on cloud services, networking, security, and managed services.”
“MidOcean has an exceptional track record investing in leading middle market companies that are poised for rapid growth,” said Aaron Stone, President and CEO of InterVision. “Their partnership, along with their industry knowledge and expertise, provides a strong foundation for investment in our people, product development, territory expansion and acquisitions. It enhances our ability to better serve our clients and expand into emerging markets.”
Huron Capital, a leading lower-middle-market private equity firm, partnered with InterVision in 2016 to pursue opportunities in the rapidly growing IT solutions industry and will remain an investor. Over the last four years, InterVision has acquired a number of leading firms to expand its product offering and drive value to its customers.
“We are extremely pleased with InterVision’s position in the marketplace and look forward to continuing our involvement with the organization,” said Brian Rassel, Principal at Huron Capital. “MidOcean’s investment is evidence of the growing leadership position InterVision has in strategic areas such as cloud services and IT resiliency. Both markets are poised for rapid expansion.”
Gibson Dunn & Crutcher LLP acted as legal advisor to MidOcean. KPMG served as financial advisor, and Honigman LLP acted as legal advisor to InterVision.
About InterVision Systems
InterVision’s mission is to unlock value by delivering innovative technology through a consultative approach. As a strategic service provider, the company delivers innovation through a broad portfolio of IT managed services, on-premise solutions, professional services, cloud solutions, automation and consulting services that organizations need to thrive in today’s dynamic IT market. InterVision’s vendor-certified sales and engineering staff have specialized expertise in all areas critical to IT environments. The company has regional headquarters in Santa Clara, Calif. and St. Louis, Mo., as well as offices and data centers in the Central and Western U.S. For more information on InterVision’s offerings, visit www.intervision.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages over $7.5 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of September 30, 2020.