Coretelligent, a provider of managed IT, security and unified cloud management services, and a portfolio company of VSS Capital Partners (VSS), have acquired managed services IT firm Soundshore Technology Group. Financial terms of the private transaction have not been disclosed.
Soundshore Technology Group (STG) brings over 22 years of experience supporting alternative investment firms in Connecticut, New York City and Los Angeles. STG acts as the managed service provider for over 70 hedge funds, private equity/VCs, RIA firms and Family Offices nationwide.
“We’re delighted to welcome the Soundshore team and their world-class clientele to the Coretelligent family. The shared commitment to delivering a superlative IT experience to our collective clients made bringing the two firms together a natural decision,” says Coretelligent Founder, President, and CEO, Kevin J Routhier. “The acquisition of STG greatly compliments and further strengthens Coretelligent’s iron-clad platform and unparalleled expertise in the Financial Services Sector.”
The acquisition brings the two organisations collectively under the name Coretelligent, resulting in an expanded base of over 200 full-time employees, and over 500 clients nationwide.
“With our acquisition through Coretelligent, we’ll be able to provide our client base enhanced solutions and offerings, strengthening the combined companies’ positioning for future success,” says Eric Benda, Managing Partner, Soundshore. “We’re confident Coretelligent’s White Glove approach will bolster our successes within the financial services vertical and beyond.”
“Soundshore’s focus of serving the financial services vertical industry aligns naturally with Coretelligent’s client portfolio,” says Trent Hickman, Managing Director, VSS. “This acquisition further exemplifies VSS’s focus of investing and building value by leveraging suitable growth opportunities that are additive to the platform company. We are thrilled to see Coretelligent’s significant growth through expansion over the past 18 months, and are looking forward to building on to to-date successes.”
VSS has substantial experience investing in lower middle-market companies, including information technology businesses where the firm’s flexible capital approach to investing can be used to support growth through strategic acquisitions and other transactions. VSS invested in Coretelligent in October 2016. The acquisition of Soundshore marks Coretelligent’s third acquisition in the past 18 months, having previously acquired United Technology Group, LLC, out of Atlanta, and SoundView IT Solutions, LLC, out of Stamford, CT.
