Pamlico Capital has made a growth investment in Service Express Inc alongside the firm’s existing management team.
Chief Executive Officer, Ron Alvesteffer, and other executive management team members will maintain significant ownership of SEI and will continue to manage the growth of the Company with support from Pamlico. Detailed terms of the transaction have not been disclosed.
Headquartered in Grand Rapids, Michigan, SEI is a leading provider of Third Party Maintenance (TPM) services for mission-critical data centre infrastructure focused on server and storage equipment. SEI has extensive expertise across a broad range of products including IBM, HP, Sun, Dell and Proliant servers, along with EMC, STK, NetApp and Hitachi storage equipment. The Company also provides additional service solutions such as hardware system solutions, sales and upgrades, OS support, and data centre relocations. Today, the Company services more than 2,500 maintenance customers across 30 offices in 13 states.
Alvesteffer says: “We are extremely proud of our team and what we have built at SEI, and are very excited to partner with Pamlico as we embark on our next phase of growth. Their track record of supporting management teams in pursuit of strategic growth plans and the level of importance they place on culture, systems, and processes really made them stand out. SEI is poised to accelerate growth as we invest in expanding our footprint to offer greater coverage to our customers and as the market becomes increasingly aware of the many benefits of outsourcing IT maintenance to TPM providers. The resources and expertise Pamlico brings to our team will be critical assets as we execute on our plan moving forward.”
Pamlico Managing Partner Scott Perper (pictured), says: “Our focus on making equity investments in growing and profitable industry-leading companies led us to SEI. We are tremendously impressed by the caliber and breadth of the management team, as well as the opportunity SEI has to capitalise on the favourable trends in the server and storage device maintenance market.”
Pamlico Partner Stuart Christhilf. says: “SEI’s customer service is unmatched in the industry, as evidenced by its leading Net Promoter Score and incredibly high customer retention. We hope to support this team in leveraging their strong existing platform to drive continued growth.”
SEI will represent the sixth investment in Pamlico Capital III, a fund with USD650 million of committed capital.
SEI was advised by Ernst & Young Capital Advisors, LLC (exclusive financial advisor) and Barnes & Thornburg LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).