Sverica Capital invests in Synoptek LLC

Sverica Capital Management LLC has acquired a majority stake in Synoptek LLC. Financial terms weren’t announced. Irvine, California-based Synoptek is an IT management and computing company. The Bank Street Group LLC advised Synoptek.

PRESS RELEASE

IRVINE, CA (PRWEB) NOVEMBER 09, 2015
Synoptek LLC is pleased to announce a majority investment by Sverica Capital Management LLC, in our global IT management and cloud computing company.
The Bank Street Group LLC acted as Synoptek’s exclusive financial advisor. Synoptek helps companies plan, build, and operate IT systems that improve business results. As of the past five years, Synoptek is one of the fastest growing IT managed services providers in the US. This transaction with Sverica International will enable Synoptek to continue on this path.
With this strategic move, Synoptek will be better positioned to execute imminent acquisition opportunities. Synoptek has shown 500% growth since 2012, and this partnership with Sverica will ultimately further Synoptek’s goal to become a stronger, more robust national IT management and cloud computing company. It will continue to improve Synoptek’s ability to provide enterprise quality IT services to companies that need support in managing their information technology infrastructure. Synoptek’s growth is based on a combination of organic and acquisition based growth in a consolidating market.
“Our partnership with Sverica International will strengthen our mission to deliver premium results for our customers, provide challenging careers for IT professionals, and produce strong returns for our investors,” said Tim Britt, Synoptek CEO. “Most importantly, this move will position us to build on our long-term strategy to produce a lasting company that fundamentally changes the way technology-intensive companies do business.” Synoptek continually aims to improve the way companies plan, invest, and consume IT services by leveraging shared cloud opportunities and offering enterprise quality IT management and superior customer service.
“Synoptek will be a valued investment to the Sverica portfolio, as the company integrates well with our focus on niche information technology providers that have shown proven successes and incredible growth,” commented Frank M. Young, Managing Director at Sverica International. “We are impressed by Synoptek’s level of sustained growth while driving profitability, and we are excited to partner with the Synoptek team to expand their leadership position in the global managed services provider (MSP) space.”
About Synoptek
Synoptek offers IT consulting, managed services, cloud services, and on-premise IT management as well as 24×7 end user support. With over 215 employees and more than 400 active customers in the United States and abroad, Synoptek provides comprehensive information technology management services and support. Synoptek leverages ITIL service management processes, customer-focused IT architecture, and operational excellence to deliver uninterrupted services demanded by today’s market. Over the past four years, Synoptek has been consistently recognized for thought leadership and growth as confirmed by industry awards and recognition including a #15 ranking in MSP Mentor’s “World’s Top Managed Services Providers” in 2015, and a #2 MSP ranking in the state of California. To learn more about Synoptek, visit http://www.synoptek.com.
About Sverica International
Sverica International is a leading private equity investment firm based in San Francisco that has raised over $500 million in investment capital across four funds. The firm acquires, invests in, and actively builds companies that are leaders in their industries. Since 1993, Sverica International has maintained a “high-touch” operating philosophy that includes taking an active role in portfolio companies. Sverica International devotes significant internal resources to help its management teams develop and execute growth strategies for positive results. To learn more about Sverica, visit http://www.sverica.com