Southfield Capital has made an investment in Ntiva, a provider of outsourced managed IT services to small and medium-sized businesses. Ntiva’s founder and CEO, Steven Freidkin, along with the Ntiva management team will be continuing in their current roles.
Ntiva’s services include onsite support, remote monitoring, cloud services, backup and disaster recovery, and strategic consulting. The company was founded in 2004 and is headquartered in McLean, VA with additional offices in Colorado Springs and Los Angeles (www.ntiva.com).
“Ntiva today is recognized as one of the fastest growing managed service providers in the nation mostly due to our continued focus on customer satisfaction and success,” said Mr. Freidkin. “As the industry grows, we want to remain one of the top players and we believe this requires a continued commitment to growing people. In order to achieve our goal, we needed to partner with a firm that can assist us with appropriately scaling our organization and executing complementary acquisition opportunities. The partner also needed to share our organizational values and focus on growing people. After an exhaustive search, we chose to partner with Southfield Capital, a firm that has experience in guiding companies like Ntiva through the next phase of growth and shares our people first approach.”
“The managed IT services industry should benefit from the continued transition of small and medium-sized businesses to outsourced IT management and cloud-based services and from the growing focus on improving data security,” said Southfield Partner Heb James. “Significant opportunity exists for a mid-market focused managed service provider that understands the sector specific needs of its clients and has the infrastructure to deliver.”
Southfield Capital provides capital for majority recapitalizations and management-led buyouts of lower middle-market businesses. The firm makes control investments of $10 million to $40 million of equity in transactions with $20 million to $100 million of enterprise value. Typical target companies will have from $4 million to $12 million of EBITDA. Sectors of interest include: business services; consumer products & services; distribution & fulfillment; energy; healthcare; media & entertainment; niche manufacturing; power & infrastructure; specialty finance; and specialty retail. Southfield Capital was founded in 2005 as the successor company to the private investment firm Levison & Company and is headquartered in Greenwich, CT (www.southfieldcapital.com).
Crestline Investors (www.crestlineinvestors.com) provided debt financing for this transaction. Finn Dixon & Herling (www.fdh.com) provided legal counsel to Southfield Capital.
© 2016 Private Equity Professional | December 7, 2016
