Coretelligent, a leading provider of comprehensive managed IT, security and unified cloud management services, and a portfolio company of VSS Capital Partners (“VSS”), a private investment firm, today jointly announced the acquisition of managed services IT firm Soundshore Technology Group. Financial terms of the private transaction were not disclosed.
Soundshore Technology Group (STG) brings over 22 years of experience supporting alternative investment firms in Connecticut, New York City and Los Angeles. STG acts as the managed service provider for over 70 hedge funds, private equity/VCs, RIA firms and Family Offices nationwide.
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“We’re delighted to welcome the Soundshore team and their world-class clientele to the Coretelligent family. The shared commitment to delivering a superlative IT experience to our collective clients made bringing the two firms together a natural decision,” said Coretelligent Founder, President, and CEO, Kevin J. Routhier. “The acquisition of STG greatly compliments and further strengthens Coretelligent’s iron-clad platform and unparalleled expertise in the Financial Services Sector.”
“Soundshore’s focus of serving the financial services vertical industry aligns naturally with Coretelligent’s client portfolio,” said Trent Hickman, Managing Director, VSS. “This acquisition further exemplifies VSS’s focus of investing and building value by leveraging suitable growth opportunities that are additive to the platform company. We are thrilled to see Coretelligent’s significant growth through expansion over the past 18 months, and are looking forward to building on to to-date successes.”
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VSS has substantial experience investing in lower middle-market companies, including information technology businesses where the firm’s flexible capital approach to investing can be used to support growth through strategic acquisitions and other transactions. VSS invested in Coretelligent in October 2016. The acquisition of Soundshore marks Coretelligent’s third acquisition in the past 18 months, having previously acquired United Technology Group, LLC., out of Atlanta, and SoundView IT Solutions, LLC., out of Stamford, CT.
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