Tower Arch Capital LLC has sold Corbett Technology Solutions Inc to a Wind Point affiliate. No financial terms were disclosed. Cowen and Company, LLC, Kirkland & Ellis LLP and RSM US LLP advised Tower Arch on the deal. CTSI is a communications solutions provider.
SALT LAKE CITY and CHANTILLY, Va., June 23, 2020 /PRNewswire/ — Tower Arch Capital LLC (“Tower Arch”) is pleased to announce that it has sold Corbett Technology Solutions, Inc. (“CTSI”) to an affiliate of Wind Point Partners (“Wind Point”).
CTSI is a leading communications solutions provider focused on identifying the specialized needs of its customers to deliver advanced technology solutions that produce positive business outcomes. CTSI designs, installs, and maintains complex audiovisual, sound, safety, healthcare, and education communications technology solutions for clients across multiple end-markets, including corporate, government, healthcare, education, senior living, multi-family residential, and houses of worship.
CTSI CEO Gino Ruta said, “Tower Arch has provided the strategic guidance, capital, and support we needed to continue to scale into a leading communications solutions provider across the mid-Atlantic. Since 2016, we have successfully worked together to grow our leadership team, capabilities, and geographic reach. We have been fortunate to expand CTSI’s scale significantly during our partnership with Tower Arch, and we look forward to continuing CTSI’s positive momentum with Wind Point.”
Ryan Stratton, a Partner at Tower Arch commented, “CTSI’s world class engineering and design capabilities are truly differentiated in the industry and have allowed CTSI to become the go-to provider for complex communications solutions. We have really enjoyed partnering with Gino Ruta and the entire CTSI organization.” Tower Arch Partner David Topham added, “CTSI is representative of Tower Arch’s focus on partnering with and growing family and founder-owned businesses to help them reach their next level of growth and success. We appreciate everything that CTSI’s founder, Chris Corbett, has put into building CTSI’s culture and customer-first focus since the company’s founding 50 years ago, and we are grateful that he trusted us to be stewards of his business. CTSI has found another great partner in Wind Point to continue its next chapter.”
Tower Arch was advised on the transaction by Cowen and Company, LLC, Kirkland & Ellis LLP, and RSM US LLP. The terms of the transaction are not being disclosed.
About Corbett Technology Solutions, Inc.
For over five decades, CTSI has been at the forefront of technology integration and innovation with critical communications, collaboration, audiovisual and security solutions for enterprise, government, healthcare and education customers. With an engineering-driven culture, CTSI delivers best-in-class solutions and services with highly trained, lean-certified user experience practitioners, programmers, technicians, engineers and customer care representatives. CTSI delivers unmatched design, installation, integration, and managed and subscription services that deliver high-quality, end-to-end results tailored to customers’ unique needs and challenges. For more information, please visit https://www.ctsi-usa.com.
About Tower Arch Capital
Headquartered in Salt Lake City, UT, Tower Arch Capital is a lower-middle market private equity fund. Tower Arch focuses on partnering with and growing high-quality family and entrepreneur-owned companies to deliver long-term value for their management teams and investors. Tower Arch brings operational, consulting, and financial expertise to small companies to give them the tools they need to achieve their full potential. Target investments include control positions in entrepreneur and family-owned businesses with revenue between $20 million and $150 million or EBITDA between $5 million and $25 million. For more information, please visit www.towerarch.com.