Private investment firm Clayton, Dubilier & Rice (CD&R has acquired a majority equity interest in IT solutions integrator Sirius Computer Solutions (Sirius) from Kelso & Company.
Since 1980, Sirius has grown to become one of the largest solutions integrators in the US, with approximately $3.5 billion in annual gross sales. Sirius provides world-class solutions from proven technologies to help clients transform their business by managing their operations, optimising their IT, and securing it all. As part of its ongoing growth initiative, Sirius has acquired seven companies since 2014, including: Avnet, Inc.’s digital solution services; Brightlight Consulting; Continuum Security Solutions; Force 3; Forsythe; thinkASG; and Varrow, Inc.
“We are passionate about continuing to provide innovative solutions that help ensure that our clients become more competitive, agile and secure,” says Joe Mertens, president and CEO of Sirius. “We believe the equity partnership with CD&R provides an excellent opportunity for Sirius and its employees to continue pursuing future growth opportunities and delivering the best business outcomes for our clients today and into the future.”
“For close to four decades, Sirius has been an IT industry leader,” adds Stephen Shapiro, CD&R partner. “We feel confident that our partnership and shared vision with management will help strengthen Sirius’ growth trajectory and broaden its solutions and services offerings to clients.”
Joe Mertens will continue to lead Sirius as president and CEO, and no changes are anticipated in the company’s current management structure.
Kirkland & Ellis LLP served as legal advisor, and Credit Suisse acted as financial advisor to CD&R in the transaction. Debevoise & Plimpton LLP acted as legal advisor, and Raymond James & Associates, and William Blair as financial advisors to Sirius.
