MidOcean Partners Makes Significant Majority Investment in InterVision
October 6, 2020
NEW YORK, October 6, 2020 – MidOcean Partners, a premier middle market private equity firm focused on the business services and consumer sectors, announced today that it has made a significant majority investment in InterVision Systems, LLC (“InterVision” or the “Company”) alongside its existing financial sponsor, Huron Capital. InterVision is a leading IT solutions and managed services provider with a blue-chip client base, strong leadership team and broad service offering. The Company has a true scale platform in managed and IT professional services. MidOcean’s investment will be used to accelerate the Company’s organic growth as well as support M&A in highly strategic areas such as cloud consulting and managed services, artificial intelligence and cybersecurity services. Financial terms of the transaction were not disclosed.
InterVision was founded in 1993 and has a national presence with 10 offices and 300+ employees, servicing more than 1,500 clients from coast to coast. InterVision is a leading Strategic Service Provider offering managed services, on premise technologies, IT professional services, and cloud services to corporate and public-sector clients. Over the past four years, InterVision has acquired six companies to dramatically expand its offerings across cloud transformation, networking, collaboration, security and data center infrastructure.
Elias Dokas, Managing Director at MidOcean, commented, “MidOcean has been evaluating the IT services space for a number of years and is thrilled to partner with InterVision’s exceptional management team and Huron Capital in the Company’s next phase of growth. We believe InterVision’s end markets will continue to enjoy strong growth for years to come as companies both small and large make investments in cloud and other areas of IT infrastructure to make their businesses more efficient, scalable and dynamic. We will continue to support an aggressive acquisition plan for InterVision that focuses on cloud services, networking, security, and managed services.”
“MidOcean has an exceptional track record investing in leading middle market companies that are poised for rapid growth,” said Aaron Stone, President and CEO of InterVision. “Their partnership, along with their industry knowledge and expertise, provides a strong foundation for investment in our people, product development, territory expansion and acquisitions. It enhances our ability to better serve our clients and expand into emerging markets.”
Huron Capital, a leading lower-middle-market private equity firm, partnered with InterVision in 2016 to pursue opportunities in the rapidly growing IT solutions industry and will remain an investor. Over the last four years, InterVision has acquired a number of leading firms to expand its product offering and drive value to its customers.
“We are extremely pleased with InterVision’s position in the marketplace and look forward to continuing our involvement with the organization,” said Brian Rassel, Principal at Huron Capital. “MidOcean’s investment is evidence of the growing leadership position InterVision has in strategic areas such as cloud services and IT resiliency. Both markets are poised for rapid expansion.”
Gibson Dunn & Crutcher LLP acted as legal advisor to MidOcean. KPMG served as financial advisor, and Honigman LLP acted as legal advisor to InterVision.
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InterVision is the leading strategic services provider, delivering and supporting complex IT solutions for mid-to-enterprise and public sector organizations throughout the US. With more than 25 years of experience, coupled with one of the most comprehensive product portfolios of managed IT service offerings available, the company is uniquely positioned to guide clients through any stage of their technology journeys. InterVision drives business outcomes with an unparalleled focus on the customer experience to help organizations be more competitive, compliant, and secure. For more information on InterVision’s offerings, visit www.intervision.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.
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