GreenPages Completes Recapitalization with Abry Partners
Private equity investment to accelerate cloud, security, and managed IT services strategy
KITTERY, ME., Dec 17, 2020 – GreenPages Technology Solutions, a leading hybrid cloud services provider, announced today a recapitalization with Boston-based Abry Partners, a private equity firm with deep IT sector expertise and a successful history of investing in innovative companies that drive long-term value. The recapitalization will help GreenPages drive momentum through organic growth and acquisition, and accelerate the company’s go-to-market strategy across its modern IT solutions portfolio, with a focus on cloud enablement and operations (hybrid and multi-cloud); security, risk, and compliance; and managed IT services. The recapitalization transaction was completed on December 11th.
GreenPages’ leadership had been seeking a strong and well-aligned financial partner to fuel its growth trajectory. “It was important to us that we find a financial partner committed to leveraging the successful foundation we have built and that would work with our team to accelerate our strategy and growth objectives,” said Ron Dupler, GreenPages’ CEO. “Abry’s stellar reputation, IT industry experience, and common vision made it a perfect choice.”
Since Abry’s inception in 1989, it has targeted investments in growth-driven industries, including information services, cybersecurity, healthcare IT, insurance services, IoT, software as a service, logistics, and media.
“GreenPages’ digital IT services portfolio and IP, organizational and operational agility, and robust ecosystem of customers and partners makes it an attractive investment opportunity,” said Rob Nicewicz, Principal, Abry Partners. “Companies with skilled executives and motivated, talented teams, which GreenPages most notably possesses, are especially valuable and key to maximizing outcomes.”
Founded in 1992, GreenPages has forged its success by anticipating major shifts in the IT industry and leveraging disruption to innovate for their clients, often ahead of competition. The company’s registered intellectual property includes its Cloud Management as a Service (CMaaS) portfolio; RECON Business Analytics Platform; and GreenPages’ Cloud Xcelerator Program—a blueprint architecture that enables clients to achieve fast, secure multi-cloud scalability.
GreenPages has garnered many industry awards, including being named #24 in the world for cloud services expertise (Talkin’ Cloud 100); #30 in the world for elite managed services (MSPmentor 501); and most recently #37 on the NextGen 101 list for excellence across cloud, managed services, and the entire modern IT stack (Channel Futures).
“We have a proud track record of helping clients succeed through the innovative use of new technologies,” added Dupler. “This accelerated investment with Abry will give us added velocity to support our clients’ digital transformation and business initiatives in ground-breaking ways. It’s an exciting moment in our company’s history.”
GreenPages was exclusively represented by Canaccord Genuity LLC for this recapitalization; terms of the transaction were not disclosed.
About GreenPages Technology Solutions
GreenPages is a leading hybrid cloud services provider and systems integrator dedicated to helping organizations make digital business transformation a reality. With expertise across cloud enablement and operations; security, risk, and compliance; and managed IT services, GreenPages helps clients modernize their infrastructure, uncover and reinvest trapped value, and achieve their business goals through the adoption of new technologies and innovative approaches. www.greenpages.com
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. www.abry.com
About Canaccord Genuity LLC
Canaccord Genuity Capital Markets is the global capital markets division of Canaccord Genuity Group Inc. (TSX: CF), offering institutional and corporate clients idea-driven investment banking, merger and acquisition, research, sales and trading services with capabilities in North America, the UK & Europe, Asia, Australia and the Middle East. We are committed to providing valued services to our clients throughout the entire lifecycle of their business and operating as a gold standard independent investment bank — expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention. For more information, visit www.cgf.com.
Elizabeth Edwards, GreenPages, Phone: 207-439-7310, Email: [email protected]