Sentinel Capital Partners recapitalized New Era Technology, which provides IT services like collaboration, data networking and security. Terms of the deal were not disclosed. Sentinel Capital partnered with New Era’s management and existing investor Gemini Investors, on the deal. Over the past 12 months, Sentinel Capital made five new platform investments.
Sentinel Capital Partners, a private equity firm that invests in promising companies in the lower midmarket, today announced the recapitalization of New Era Technology, a technology solutions provider serving customers in the United States, the United Kingdom, New Zealand, and Australia. Terms of the deal were not disclosed.
New Era provides a comprehensive suite of managed services and systems integration capabilities for a wide range of IT solutions, including collaboration, data networking, and security. Employing a customer-centric business model, New Era is a trusted technology advisor to more than 6,500 worldwide customers – often name-brand, blue-chip multinational businesses – that span diverse end markets, including healthcare, education, corporate, government and financial services. Founded in 2013, New Era has driven significant organic growth and successfully completed 12 add-on acquisitions.
Sentinel partnered with New Era’s management team and incumbent investor, Gemini Investors, to complete the transaction.
“New Era is strategically positioned to capitalize on favorable secular trends underpinning the evolving technology landscape,” said Michael Fabian, a Sentinel Partner. “With a talented, highly experienced management team and a deep bench of technical professionals, New Era is well-positioned to continue along its impressive growth trajectory. We are extremely excited about the opportunity to partner with the New Era team.”
“As technology systems increase in complexity and the pace of technological change accelerates, organizations require integrated, flexible, and scalable solutions that incorporate a wide range of technologies,” said Joe Ewart, New Era’s CEO. “Partnering with Sentinel provides us a tremendous opportunity to continue our acquisition strategy, which complements our organic growth. The New Era team is excited to be working with a partner with Sentinel’s experience and continue our successful partnership with Gemini.”
The past 12 months have been highly active for Sentinel. Besides acquiring New Era, Sentinel made five new platform investments, including Apex Companies, an environmental services firm; Holley Performance Products, a designer, manufacturer and marketer of branded aftermarket automotive performance products; Mobile Communications America, a communications solutions and services provider; Pet Supplies Plus, a franchisor and operator of pet-specialty stores; and SSJA Bariatric Management, an administrative support service provider to a network of bariatric surgery offices. Sentinel also completed two exits, including CINgroup, a workflow solutions provider to the consumer bankruptcy market, and The Luminaires Group, a leader in the specification-grade lighting industry.
About Sentinel Capital Partners
Sentinel specializes in buying and building businesses in the lower midmarket in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About New Era Technology
New Era delivers technology solutions that securely connect people, places, and information in a rapidly changing digital world. New Era has an extensive team of engineers, designers, installers, technicians, and sales professionals, all of whom provide hands-on collaborative consultation backed by deep industry training and certification. From concept and implementation to training and service, New Era works in partnership with its clients to meet their goals. New Era helps more than 6,500 customers worldwide adapt to rapidly changing technological developments. For more information, visit www.neweratech.com.