Tailwind Capital has reached an agreement to acquire Stratix Corporation, a provider of outsourced managed mobile services to companies in the retail, manufacturing, transportation and field services industries. Stratix has been a portfolio company of Grey Mountain Partners since October 2011.
Mobility managed services (MMS) are IT and process management services required by a company to acquire, provision and support smart-phones, tablets and other ruggedized field devices with cellular and wireless connectivity.
Stratix was founded in 1983 and today provides MMS consulting, deployment, software, 24×7 support and other related services. The company is led by its CEO Gina Gallo and is headquartered in Norcross, GA (www.stratixcorp.com).
“Stratix is well positioned as a leader in the explosive MMS sector. We’ve been tremendously impressed with the partnerships Stratix has established with major global brands in the mobile sector as well as its impressive long standing customer relationships,” said Tailwind Capital Operating Executive Geoffrey Baird, who will join the Board of Directors as Stratix Chairman.
“Stratix has an impressive track record for consistently delivering business critical services in a very dynamic mobile marketplace,” said Adam Stulberger, a Partner at Tailwind Capital. “We believe this rapidly changing and expanding MMS industry offers substantial growth opportunities for the company through both organic initiatives and add-on acquisitions.”
Tailwind makes investments of $25 million to $100 million in lower middle market companies with enterprise values of up to $300 million that are active in the healthcare, business, and communications services sectors. Since its founding in 2003, Tailwind and its portfolio companies have completed over 65 acquisitions. The firm currently manages over $2 billion of committed equity capital and is based in New York (www.tailwind.com).
“Our proven track record in the MMS space uniquely qualifies Stratix to continue expanding our footprint and leveraging our experience in both the rapidly growing mid-market sector as well as the new market opportunities around the Internet of Things,” said Ms. Gallo. “More and more companies are leveraging mobile technology to transform their business, but are unable to scale their internal support to operationalize their mobile investments. With support from Tailwind, we have the resources to dramatically scale our presence as a leading MMS provider in these new markets.”
© 2016 PEPD • Private Equity’s Leading News Magazine • 3-1-16