Synoptek — a global IT systems integrator, consulting firm and MSP — has a new private equity owner. In fact, Quad-C Management acquired and recapitalized Synoptek. The seller, private equity firm Sverica Capital Management, retains a minority stake in MSP. Financial terms and valuation metrics were not disclosed.
This is technology M&A deal number 847 covered by ChannelE2E so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs, and IT service providers listed here.
Synoptek and Quad-C Business Backgrounds
Synoptek, founded in 2001, has been primarily supported by Sverica since 2015. The global MSP, based in Irvine, California, has approximately 1,000 employees and 12 offices worldwide.
Synoptek is a Microsoft Partner of the Year for 2022. Key areas of expertise include Microsoft Dynamics, Azure, Microsoft 365, ServiceNow, Salesforce, AWS, and Google G-Suite.
Synoptek has grown organically and through M&A. Notable acquisitions include:
Quad-C, founded in 1989, is based in Charlottesville, Virginia. The mid-market private equity firm invests in sectors such as consumer services, healthcare, industrials, specialty distribution, food and beverage and consumer products, and transportation/logistics companies. In its three-decade history, Quad-C has invested more than $4 billion in capital in 80 platform companies, the firm indicated.
Private Equity Capitalizes Synoptek: Executive Perspectives
In a prepared statement about the recapitalization, Synoptek CEO Tim Britt said:
“As customers move to cloud platforms, Synoptek has grown its capabilities to deliver greater value and Quad-C’s investment will be instrumental in our continued organizational expansion. This investment will allow us to grow and extend our service offerings for clients as well as create new and strategic career opportunities for our team. The partnership is a strong fit for both of us.
We are excited for the future of what this partnership holds with Quad-C and know it will be a driving force in helping us advance the digital transformation needs of every customer we serve.”
Jack Walker, partner at Quad-C, added:
“We are honored to partner with Tim Britt and his team at Synoptek who have done an amazing job scaling the business over the past few years. This platform is perfectly positioned to capitalize on the ongoing digital transformation of the economy, and we look forward to working closely with the team to drive tremendous growth for the company and deliver better results for their clients.”
Canaccord Genuity Group Inc. served. as financial advisor to Synoptek and Sverica.