Eureka Growth Capital, through its portfolio company, Project Leadership Associates (“PLA”), a business and technology consulting firm, has completed the acquisition of Vital Networks, a provider of managed services and outsourced IT services. “The addition of Vital Networks to the PLA platform significantly increases our scale in managed services, broadens our service capabilities and provides branch locations on both coasts from which to offer PLA’s complete suite of services,” said Jonathan Chou, a Principal with Eureka and a Director at PLA.
Project Leadership Associates is a business and technology consulting firm that provides small, mid-market and enterprise organizations with services across four groups: Strategy & Execution; Business Operations; Applications; and Infrastructure. PLA is headquartered in Chicago with offices in Detroit, Houston and New Orleans and, with the acquisition of Vital Networks (www.vitalnetworks.com), now has offices in Sacramento, San Francisco, Boston and Seattle (www.projectleadership.net).
“We are excited to welcome Vital Networks to the PLA family,” said Dan Porcaro, President and CEO of PLA. “Vital Networks is a natural fit because they offer a variety of technology consulting services and they are heavily focused on building strategic client and vendor relationships, much like PLA. As a national professional services corporation, PLA has clients across the country and our team has worked on a number of multi-million dollar projects outside of our core offices. We recently opened a new office in Detroit and now Vital Networks will help us broaden our reach and grow our operations on the east and west coasts.”
Eureka Growth Capital makes control and non-control investments in companies with $10 million to $75 million in revenue. Initial equity investments range from $4 million to $10 million, but larger investments can be made with co-investment from the firm’s limited partners. The firm prefers investment opportunities in the Mid-Atlantic and Eastern US. The firm was founded in 1999 and is based in Philadelphia, PA (www.eurekagrowth.com).
RBS Citizens provided financing for the acquisition of Vital Networks.