Pittsburgh-based Tier1, a technology services company, has raised an undisclosed amount of funding. The investor was Tecum Capital Partners.
Pittsburgh, Pennsylvania – Tecum Capital Partners (“Tecum”) is pleased to announce its new investment in Tier1, Inc. (“Tier1” or the “Company”). Tecum partnered with Rob Guidarelli, Tier1 Chief Executive Officer, to recapitalize the Company in support of future growth.
Founded in 2003 and headquartered in Pittsburgh, PA, Tier1 is a leading technology services firm focused on the delivery of Enterprise Resource Planning software consulting and implementation, cloud migration and hosting, and managed services. The Company’s offerings are focused on Oracle Corporation’s applications, including E-Business Suite and Hyperion. Tier1 serves a variety of customers including manufacturers, health care providers, educational institutions, and non-profits in Pennsylvania and around the country.
Mr. Guidarelli and Tecum are excited by the future growth prospects of the Company resulting from accelerating trends in cloud computing technology. Tier1 is a first-mover in cloud migration for Oracle products and is currently in the process of adding Microsoft Azure capabilities to its product suite. The cloud adoption trends by industry participants continue to increase quarter over quarter, and the Company is uniquely positioned to capture share in the growing market.
Mr. Guidarelli is bullish on his Company’s future and the new relationship with Tecum, stating “I could not have found a better partner than Tecum to help take Tier1 to the next level. Their approach of providing personalized service and developing deep relationships mirrors the culture we have at Tier1, which has enabled us to achieve the success we have had over the past 15 years. I am very excited about the opportunity to expand our solution offerings while continuing to provide the same level of total customer satisfaction that our customers have come to expect from Tier1.”
Stephen Gurgovits, Jr., Managing Partner of Tecum, added “We are thrilled to count Tier1 and Mr. Guidarelli as partners in our portfolio. The Company’s success in cultivating long-term, recurring customer relationships gives us great confidence in their ability to execute on growth initiatives.”
About Tecum Capital
Tecum Capital is a Pittsburgh-based private investment firm with over $450 million of committed capital under management providing mezzanine debt, subordinated notes and private equity for middle market businesses. Tecum has invested more than $250 million in over 50 companies over the past 10 years throughout the Midwest, Mid-Atlantic, Northeast, and Southeast. Tecum generally invests amounts ranging from $5 million to $15 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts. For more information, please visit www.tecum.com.