Dec. 14, 2022: PE Targets Enterprise Solution Providers
Gemspring, Argosy, Halifax and Two Sigma Impact invest in technology advisory, IT and security
Read the top headlines for Wednesday, December 14, 2022 below:
Gemspring Invests in Merged Technology Advisory Business
Middle-market private equity firm Gemspring Capital Management announced its acquisition of Amplix, which provides technology advisory services as well as software. Amplix was formed through the merger of ROI Communications, Blue Front Technology Group and allConnex. Amplix CEO Joe DeStefano said of the combination: “Bringing the combined talent and resources of these three organizations together as Amplix empowers us to deliver greater value to our customers throughout the full lifecycle of their technology investments,” adding that Gemstone will support the combined company’s next phase of growth.
Argosy PortCo Acquires Physical and Electronic Security Business
Wittenbach, a portfolio company of lower middle-market private equity firm Argosy Private Equity, has acquired The Gilbertson Group, which provides physical and electronic security solutions to a variety of commercial and government end-customers. A press release said the investment augments Wittenbach’s existing service offering, which targets community and national banks with its security and cash automation solutions. Their announcement said integration of TGC into Wittenbach operations is already in progress as part of Argosy’s Value Acceleration Methodology toolkit.
Halifax Takes Control Stake in Enterprise IT Company
The Halifax Group, a middle-market private equity company, has acquired a controlling stake in enterprise IT solutions provider Milstone Technologies. In addition to Halifax’s investment, private equity firm Two Sigma Impact also made a minority investment, the announcement said. Milstone’s existing leadership team, including its CEO Sameer Kishore, will retain their positions, a press release noted.
