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Agiliti Merges with VeriCenter
Sale capitalizes on expansion of outsourced managed services
April 12, 2005 | Minneapolis, MN |
TripleTree, LLC announced that Minnesota-based managed services provider Agiliti, Inc. has merged with VeriCenter, Inc., a Houston-based provider of IT infrastructure and managed services. Together, the combined company provides leading IT infrastructure and managed services through a national data center footprint to such name-brand enterprises and application vendors including Kodak, Select Comfort, Mayo Foundation, Kroll, Berlitz, Reebok and IBM.
TripleTree acted as exclusive financial advisor to Agiliti in the transaction. “The merger was a result of aligning the resources needed within Agiliti for accelerated growth and expansion nationally,” said TripleTree Senior Principal Peter Erickson. “The process evaluated the addition of new equity capital in growing organically versus combining resources strategically. Selecting to merge with VeriCenter enhanced the value proposition of both companies – strategically and financially.”
Said Agiliti CEO Tom Kieffer, "TripleTree provided tremendous value in strategic planning and positioning, capital formation and ultimately in engineering the merger with VeriCenter."
In merging the two companies, there will be limited operational changes as VeriCenter will retain Agiliti’s team to operate its Minneapolis/St. Paul managed hosting and data center operations as well as Agiliti’s business development initiatives targeting the Software as a Service (SaaS) market.
According to Kieffer, “This merger is an excellent combination for our customers. As a result of our application hosting and Software as a Service initiatives, we have been expanding our business nationwide. VeriCenter’s market presence and leadership in enterprise hosting and managed services is a great enhancement to these efforts. The merging of these companies will provide Agiliti’s customers a greater breadth of solutions, increased service and support resources, a nationwide network of data centers, and financial strength.”
Gray Hall, CEO of VeriCenter, said “This is an exciting time for our industry as demand for managed services and IT infrastructure outsourcing continues to grow rapidly. Agiliti has a strong and respected presence in the Twin Cities market. I am excited about adding Agiliti’s operations to our national portfolio of data centers and managed services solutions.”
To read the full case study on this transaction, please visit the Engagement page on TripleTree’s website or click here.
TripleTree, LLC is a research-based investment bank serving growth companies, investors and global acquirers. TripleTree conducts proprietary research that guides our work in M&A, growth capital and financial advisory services. Our value-based approach benefits technology-enabled businesses in sectors where delivery models are converging technology and services, and all sectors where CEO’s and investors are in search of creative ways to disrupt markets and unleash value.
TripleTree’s unique personality is shaped by the experience of our principals who as former business builders and transaction professionals create strategic outcomes that maximize value for our clients. The firm is located in Minneapolis. |
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