HIG Capital (HIG), a leading global private equity and alternative asset firm with over USD21 billion of equity capital under management, is pleased to announce that one of its affiliates led a strategic investment in Trace3, Inc.
Headquartered in Irvine, CA, Trace3 is a leading digital transformation and IT solutions provider to medium- and large-sized enterprise clients. Since its founding in 2002, the Company has established a regional market-leading position in the technology solutions provider space with significant expertise in areas such as Cloud, Security, Data Intelligence, DevOps, Data Center solutions, etc. Trace3 employs over 250 engineers with deep domain expertise across IT design, implementation and operational disciplines.
Tyler Beecher, Trace3’s Chief Executive Officer, says: “I am excited to partner with HIG, a highly respected investment firm with significant industry expertise and look forward to benefitting from an increased level of investment in the Company. The entire management team is excited to be working with the HIG team in accelerating our Company’s growth while continuing the Company’s core value of putting our clients first.”
Rob Wolfson, Managing Director at HIG, says: “Trace3 provides unparalleled expertise in the technology solutions provider space matched with incredible client service. We look forward to supporting the Company’s growth, continuing to expand the best-in-class service to Trace3’s clients, and maintaining an excellent culture that attracts leading industry talent.”
Hayes Drumwright, who founded Trace3 in 2002, will continue to serve on the board of directors and will remain a significant shareholder in the Company. Drumwright says: “I am proud of the business that we have built over the last 15 years and I look forward to the next chapter. Our partnership with HIG gives me great confidence that the Company will continue to build on its outstanding reputation for creating innovative technology solutions to long-standing client business challenges.”
