CIVC Partners (a Chicago-based middle market private equity firm focused on investments in the business services sector) has announced an investment in Highstreet IT Solutions in partnership with CEO Nick Magliato, CFO Ben Davies, and the Highstreet management team.
Highstreet – which is based in Rockville, Maryland – is a rapidly growing, cloud-focused Oracle implementation and managed services provider offering services across a client’s entire cloud lifecycle. And the company offers a full suite of services, from up-front strategy and design assessments to implementing and migrating to cloud environments to long-term managed services. This entire Highstreet management team will remain in place following the transaction.
This partnership with Highstreet builds on CIVC’s investment experience in IT services. And other representative investments include Datavail (data managed services), Industrial Networking Solutions (industrial IoT solutions), Allata (digital engineering services), iVision (managed IT services), and KeyData (cybersecurity services).
Kirkland & Ellis LLP served as legal counsel to CIVC on the deal. And Guggenheim Securities acted as Highstreet’s financial advisor, and Winston & Strawn LLP served as legal counsel to Highstreet.
KEY QUOTES:
“We are thrilled to be partnering with a team at CIVC that shares our vision for Highstreet. CIVC has been an active investor in the IT services sector and has the resources and capabilities to help us execute on our growth strategy while continuing to provide unmatched services to our clients.”
- CEO Nick Magliato
“Highstreet is a rapidly growing implementation and managed services provider with an exceptional track record of exceeding client expectations driven by deep technical expertise and end user focus. We are excited to partner with Nick and Ben to support the Company in accelerating organic growth and pursuing strategic acquisitions.”
- Marc McManus, Partner at CIVC
“Highstreet is an exciting investment opportunity for CIVC and a strong fit with our experience investing in high-growth service-oriented businesses.”
- Andrew Roche, Principal at CIVC
