FORT POINT CAPITAL EXITS INVESTMENT IN PORTFOLIO COMPANY, STRATA INFORMATION GROUP

BOSTON, Jan. 22, 2025 /PRNewswire/ -- Fort Point Capital ("Fort Point"), a Boston-based private equity firm that invests in service-oriented businesses in the lower middle market, announced today that it has successfully completed the sale of its investment in Strata Information Group ("SIG" or the "Company") to Ridgemont Equity Partners.

Founded in 1987 and headquartered in San Diego, SIG is a leading provider of managed services for higher education. The Company's comprehensive service offering includes Enterprise Resource Management (ERP), Customer Relationship Management (CRM), cybersecurity, and other enterprise level managed service and application service capabilities.

Since its investment in 2021, Fort Point worked closely with SIG's management team to transform the Company from a founder-owned business into a leading technology agnostic provider of IT services to the higher education market. During Fort Point's hold, SIG made significant investments in its management team, professionalized the Company's systems and infrastructure, and implemented an organic growth strategy that established leading service practices across the entire higher education technology consulting market. In addition, SIG successfully executed and integrated three add-on acquisitions, expanding the Company's service breadth and establishing a robust M&A pipeline to complement SIG's strong organic growth momentum.

Henry Eimstad, co-founder of SIG, said, "It was of paramount importance to my co-founder, Frank Vaskelis, and me that we find a partner who would preserve SIG's unique culture and help the Company drive growth, and we couldn't be more pleased with our selection of Fort Point."

"I am thankful to the Fort Point team for the opportunity to lead another great portfolio company.  SIG is a special platform, and the team and I are excited to continue investing in human capital, expanding our service capabilities and serving our higher education clients in partnership with Ridgemont, a firm which is aligned with our goals and strategy and has substantial resources to support us," said Brent Rhymes, CEO of SIG.

"It has been a true pleasure working with the SIG team, and we are very proud of Brent Rhymes, Heather Schlenger, Jon Poole, Tiffany Palacz and the rest of the SIG team for driving such phenomenal growth and building a unique company with a bright future. We look forward to continuing as a minority investor during SIG's exciting next growth phase," said Fort Point Partner, Christina Pai.

Baird served as exclusive financial advisor to SIG, while Kirkland & Ellis LLP provided legal counsel to the Company.

About Strata Information Group

Strata Information Group is a leading provider of IT services to higher education institutions. SIG offers comprehensive technology consulting solutions, including software implementation, cloud migration, digital transformation, cybersecurity, database administration, and ongoing support services. For more information, please visit www.sigcorp.com.

About Fort Point Capital

Fort Point Capital brings a management-led, growth-oriented approach to private equity investing, targeting fragmented sectors of the business services industry. Founded in Boston in 2011, Fort Point partners with founders and management teams to accelerate growth by providing resources to expand teams and infrastructure, improve service offerings, access new markets, and support follow-on acquisitions. Fort Point fulfills its commitment to management, employees and shareholders by employing a repeatable process to drive durable value, showcased in over 50 acquisitions since its inception. Fort Point is currently investing from FPC Small Cap Fund III. To learn more, please visit fortpointcapital.com.

The above quotes are provided by Henry Eimstad and Brent Rhymes, Founder and CEO of SIG, respectively. Mr. Eimstad and Mr. Rhymes are not investors in any Fort Point fund and were not paid for the quotes included above.  However, due to their positions at SIG, they may be inclined to have a favorable view of Fort Point Capital.

SOURCE Fort Point Capital