Focus Strategies Announces the Sale of CMIT Solutions, Inc.
has been acquired by
Austin, Texas – (January 23, 2019) – CMIT Solutions, Inc. (“CMIT”), a leading provider of enterprise-level outsourced IT solutions to small and medium sized businesses, has been acquired by Craftsman Capital Partners of Dallas, Texas. Focus Strategies Merchant Banking, LLC (“Focus Strategies”) served as the exclusive financial advisor to CMIT throughout the transaction, which closed on December 18, 2018.
CMIT, founded in 1996, provides an array of outsourced managed services, including managed IT services, data protection and back-up, cybersecurity, networking, hosting and cloud, applications, security and compliance, procurement, and virtual CIO/CTO. The company provides these services through a nationwide network of franchises.
Oliver Sandlin, Director at Focus Strategies, said “It was a pleasure working with Jeff Connally, CEO of CMIT, on this transaction. Under his leadership, he has created tremendous value and has positioned the company for significant growth. This was immediately recognized by Craftsman Capital Partners. It was a natural fit given their industry experience and values-driven investment strategy.”
“Finding the right investors who align with CMIT’s core values, and are committed and capable of accelerating our group is a tremendous undertaking. We are thankful for Focus Strategies’ advice and the direction that they provided us to ensure a successful closing. Their knowledge and expertise of our industry and just as important, the buyer’s market, proved to be paramount in positioning the company for the next chapter,” Jeff Connally, CEO of CMIT stated. “We are excited to be partnering with a successful firm like Craftsman Capital who will maximize the opportunity for the team at CMIT.”
Craftsman Capital Partners is a Dallas-based private equity firm that invests in lower middle-market companies that exhibit a strong potential for growth.
Tags: acquisition