DETROIT—The Detroit-based private equity firm Huron Capital announced that its information technology solutions platform, InterVision, has acquired Fotis Networks, an IT professional services and consulting firm.
Founded in 1998, Boston-based Fotis provides cybersecurity and networking professional services to clients in the government, commercial, healthcare and education sectors.
“Our clients are moving into more complex environments that require greater expertise in cloud services, security, enterprise infrastructure and compliance,” said Aaron Stone, president and CEO of InterVision. “Fotis brings technical depth in these areas and complements our current engineering talent. We believe that we will be able to serve our clients even more effectively as we join the two companies together.”
Additionally, over the past two years, Fotis and InterVision have formed a close relationship. Fotis is an InterVision Service Delivery Partner and has provided professional services to InterVision clients.
“The natural synergy between Fotis and InterVision is the result of shared values and experience working together on complex client deployments,” said Frank Loulourgas, founder and CEO of Fotis, who will remain with the combined company. “Joining the InterVision team is expected to enhance our collective ability to deliver the best client outcomes.”
Huron Capital partnered with Santa Clara, Calif.-based InterVision in 2016 to pursue opportunities in the rapidly growing IT solutions industry. Over the last three years, InterVision has also merged with or acquired Infiniti Consulting Group, Bluelock, Netelligent, and Independent Technology Group. With InterVision and Huron Capital’s backing, Fotis also has an opportunity to expand its expertise to a broader range of clients and projects.
“We are extremely impressed with Fotis’ cybersecurity work with customers such as the U.S. Department of Defense and defense contractors and expect this acquisition will provide InterVision with access to new capabilities and customers,” said Brian Rassel, vice president of private equity at Huron Capital. “This acquisition is aligned with our buy-and-build strategy and is focused on driving value for InterVision’s clients as an established industry leader.”
Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through its proprietary ExecFactor and buy-and-build investment models. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed more than 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3 billion, 15,000 employees, and operated more than 325 locations. Huron Capital targets both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, visit www.huroncapital.com.
InterVision provides IT managed services, on-premise products and services, cloud products and services, automation and consulting services. The company has regional headquarters in Santa Clara, Calif. and St. Louis, Mo., as well as offices and data centers in the central and western United States. More at www.intervision.com.
More about Fotis at www.fotisnetworks.com.