The Vistria Group Announces Strategic Investment with Technology and Social Impact Solutions Leader MGT

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Jun 15, 2023, 08:05 ET

CHICAGO, June 15, 2023 /PRNewswire/ -- The Vistria Group today announced a strategic investment in Tampa-based MGT Solutions ("MGT"), a tech-led managed services business delivering high-value technology and social impact solutions for State, Local and Education agencies, national philanthropic organizations, and Fortune 500 clients. The Vistria Group's investment in MGT marks the firm's continued focus in technology-enabled solutions and the 12th and final investment from Vistria Fund IV, LP.

Founded in 1975, MGT provides specialized solutions that address the broad array of challenges and opportunities faced by organizations focused on achieving sustainable performance improvement. The company has successfully served more than 15,000 clients in all 50 U.S. states and internationally, delivering mission-critical information technology and cybersecurity upgrades, financial and operational performance improvement, and student learning advancement. MGT's clients include many of the nation's largest K-12 school districts and higher education institutions, including 30 historically Black colleges and universities (HBCUs). Led by CEO Trey Traviesa and a seasoned, diverse management team, the company has continued its upward trajectory of social impact and strategic growth through seven acquisitions since 2020.

"Our mission is to become the social impact and performance leader in our industry. By delivering world-class technology, education and performance solutions, our people improve lives in the communities we serve through their incredibly meaningful work," Traviesa said. "We recruit and acquire the best talent and technology to help our clients drive results, accelerate operational performance and advance community well-being. We are all excited about our new partnership with The Vistria Group as we elevate into our plans during this next chapter of impact and growth."

"Our partnership with MGT further represents The Vistria Group's mission of aligning with partners who prioritize impact as a driver to accelerated growth and improved student performance. A strong IT infrastructure is the backbone of an organization's operational effectiveness in delivering on long-term goals," said Phil Alphonse, Senior Partner and Co-Head of Knowledge & Learning Solutions at The Vistria Group. "Trey and his team are impressive individuals who have demonstrated MGT's potential, and we are pleased to partner with them through this investment."

As the world becomes more digitized, many organizations are finding themselves behind the curve. With an aging IT infrastructure and shortage of IT professionals, public agencies in particular have become increasingly susceptible to cyberattacks, resulting in increased, avoidable costs.

"In a tech-driven world, it's critical to embrace new technologies and adapt to changing methodologies to improve critical outcomes," said Yash Kandoi, Principal of Knowledge & Learning Solutions at The Vistria Group. "We're excited about our partnership, which allows us to help address these fundamental challenges."

Through this investment, The Vistria Group will work alongside Traviesa and MGT's management team to support organic growth, accelerate acquisitions, invest more in sales and marketing, turn legacy products into SaaS solutions, expand product offerings, and develop key growth partnerships. Traviesa and MGT partnered with Trivest Partners' non-control fund-extension, Trivest Growth Investment Fund ("TGIF") in early 2020.

"By partnering with The Vistria Group, our people have access to a powerful platform of intellectual capital and operational resources needed to accelerate our development as a 'category-of-one' leader in our industry," Traviesa added.

Jefferies served as exclusive financial advisor, and Davis Polk LLP served as legal advisor to MGT and Trivest Growth Investment Fund. Houlihan Lokey served as financial advisor and Winston & Strawn LLP served as legal advisor to The Vistria Group.

About The Vistria Group
The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge and learning, financial services and real estate that deliver value for investors as well as communities, employees, and consumers. With over $10 billion in AUM, The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. For more information, please visit www.vistria.com.

About MGT
Founded in 1975, MGT is a leading provider of social impact and performance improvement solutions for public agencies, philanthropic organizations, and Fortune 500 companies across the U.S. and abroad. Over the last several years, MGT — a company committed to employee ownership — has expanded its education and technology solutions portfolio with the addition of Davis Demographics, EH&A, Kitamba, Ed Direction, Cira Infotech, Layer 3 Communications and Step By Step Learning. Leveraging a half-century track record and reputation, MGT's industry experts provide highly specialized solutions addressing mission-critical client priorities that improve outcomes and help organizations and communities thrive. For more information, please visit www.mgtconsulting.com.

About Trivest Partners
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 500 investments, totaling nearly $8 billion in value. The firm has roughly $5 billion in assets under management, with a growing team of over 70 professionals. Learn more at www.trivest.com.