IRVINECalif. , September 27, 2022 /PRNewswire/ — Sverica Capital Management LP (“Sverica”) announced today that its portfolio company, Synoptek (or the “Company”), has sold a majority stake in investment firm Quad-C Management (or “Quad -C”) . Sverica will retain a minority position as a result of the transaction.
Founded in 2001 and headquartered in Irvine, CA, Synoptek is a leading full-service business technology solutions provider. The Company partners with customers to envision, transform and evolve their businesses to achieve better results with technology. The Company’s global technology services implementation and management platform enables customers to accelerate their technology adoption and reduce technology operating costs.
Synoptek has experienced significant growth since Sverica’s initial investment in October 2015. Under Sverica’s ownership, Synoptek completed five strategic acquisitions that helped increase the Company’s delivery capacity across geographies and significantly expanded its services portfolio. Today, Synoptek employs over 1,000 technology professionals spanning 12 offices worldwide. Demand for Synoptek’s services is fueled by growing business dependence on technology and the widespread adoption of cloud platforms such as Microsoft Dynamics, Salesforce, ServiceNow, Azure, AWS, Microsoft 365, and Google G-Suite.
Frank YoungManaging Partner at Sverica, said, “Synoptek has created tremendous value since we first joined forces with Tim to further grow the business. During our partnership, the Company has experienced dramatic growth, built a global footprint of foot, and has materially expanded its portfolio of service offerings, all of which are beneficial to customers. Tim, the management team, and the employees of Synoptek are great partners overall. The position is excellent of the Company for the future, and we look forward to continuing to maintain a minority position under the leadership of the Company by Tim and Quad-C.”
Tim BrittCEO of Synoptek, said, “Sverica has been an important extension of our team. They had an immediate impact by initiating an important discussion of service portfolio strategy and a transition to cloud-related services. They excellent partners and provided valuable input into the overall direction of the Company which led to accelerated growth.”
“Synoptek and Sverica have built a strong partnership, and the Company’s expanded capabilities, expertise, and resources resulting from the strategic investments made with Tim and the Synoptek team position the Company well to deliver valuable end-to-end service to customers. We are excited to continue supporting the Synoptek team as they embark on a new chapter in the Company’s growth,” said Ryan HarstadPartner at Sverica.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has risen $1.1 billion in five funds. The company acquires, invests in, and actively builds companies that are, or can become, leaders in their industries. Since its inception, Sverica has followed a “business builder” investment approach and takes an active role supporting its portfolio companies. Sverica devotes significant internal time and resources to helping its management teams develop and execute growth strategies and actively seeks levers to pull to accelerate growth by reinvesting in those companies. Sverica strongly believes in building business partnerships that can last for the long term by starting with a strong foundation and bringing in the right people and playbook to drive reinvestment and ultimately strong returns for our clients. investing. For more information, please visit Sverica.com.
About Synoptek
Synoptek is a global Business and Technology Consulting and Advisory firm that helps companies envision, transform, and evolve. As a Global Systems Integrator and managed Technology Services Provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build a solid technology foundation for their business. With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps organizations grow their business while optimizing and protecting their IT ecosystem. With growth, ownership, inclusivity, and philanthropy embedded in its DNA, Synoptek is committed to delivering enhanced business results and unmatched service to all its stakeholders. Discover more at www.synoptek.com, or connect with Synoptek on Facebook,Twitter and LinkedIn.
Media Questions:
Sverica Capital Management LP
Nathalie Allen
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SOURCE Sverica Capital Management
