Sverica Capital Management has acquired Irvine, California-based
Synoptek LLC, a provider of information technology management services. No financial terms were disclosed.
SAN FRANCISCO–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today that it has acquired Synoptek LLC (“Synoptek”) on October 30, 2015, which marks Sverica’s first investment made from Fund IV. Synoptek is an outsourced IT managed services provider that delivers a comprehensive suite of solutions for clients including 24 x 7 help desk support, cloud hosting, disaster recovery, as well as consulting and project management services.
Synoptek is headquartered in Irvine, CA with major offices in Denver, Sacramento, San Francisco, and Boise. By planning, building, monitoring, and operating complex IT infrastructure on behalf of clients, Synoptek allows its customers to focus on the key strategic initiatives facing their businesses.
“We bring enterprise technology services to organizations that don’t have large IT departments. Ultimately our customers have better IT capabilities and services by leveraging Synoptek’s shared IT services such as cloud computing infrastructure, network management services, security services, and help desk services,” said Tim Britt, Chief Executive Officer of Synoptek. “Our partnership with Sverica will enable us to continue to execute our aggressive plans for acquisitive and organic growth as we strive to become the leading branded IT managed services provider in the country.”
Frank Young, Managing Director at Sverica, added: “We started tracking Synoptek in 2013 and first met Tim early in 2014. He and the team have impressed us with the tremendous growth they have experienced in that timeframe. Synoptek is now emerging as one of the largest managed service providers in the country, and we are very excited to partner with them to continue on their path of innovation and growth.”
Synoptek provides information technology management services and support to organizations worldwide. The company offers solutions to manage and operate IT infrastructure using their advanced IT service management (ITSM) capabilities, automated toolsets, and skilled technologists. Synoptek’s trusted team of IT professionals provides superior end user and device management support to improve business performance and success. Synoptek offers a complete suite of managed IT services at the service levels necessary for customers to excel as high performing organizations. For more information, please visit www.synoptek.com.
About Sverica Capital Management
Sverica Capital Management is a leading private equity firm that has raised over $500 million of investment capital across four funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993, Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.