DAILYHOSTNEWS, October 29, 2011 – TA Associates announced it has completed the acquisition of CoSentry, an Omaha-based provider of outsourced IT infrastructure services. TA partnered with CoSentry management to acquire the company.
Financial terms of the investment were not disclosed. Selling shareholders include McCarthy Capital, an Omaha-based private equity fund, and WaittCorp Investments, an Omaha-based investment company.
CoSentry offers a full complement of business continuity and resiliency services, supporting complex IT solutions for enterprise clients. The company provides data center services, managed services, cloud computing, security and disaster recovery
“As a profitable and rapidly growing technology company with a seasoned management team, CoSentry is precisely the type of business in which TA seeks to invest,” said Harry D. Taylor, a Principal at TA Associates who will join CoSentry’s Board of Directors. “CoSentry has been repeatedly recognized as one of the country’s fastest growing Internet infrastructure businesses. We will work closely with management to continue that growth and help realize CoSentry’s full potential.”
“TA Associates has a well-earned reputation as a successful investor, helping businesses create substantial value for the future,” said Michael Steffan, President and CEO, CoSentry. “This partnership is validation of the soundness of our business model and prospects for continued success. With their financial support, experience investing in technology companies, strategic guidance and significant network of contacts, we anticipate a fruitful and mutually beneficial relationship with TA.”
CoSentry’s customers span a variety of industries and range from Fortune 100 companies to regional and local businesses across the country. CoSentry’s Midwest location offers a number of benefits to its customers, including competitive power costs compared to other U.S. markets.
TA Associates has more than four decades of investing experience, focusing on profitable growth companies. TA’s prior investments in the telecommunications and software sectors include AboveNet, IntraLinks, McAfee, MetroPCS Communications, NetScout Systems, Network Appliance, Sophos Plc and WIND Telecom S.p.A.
CoSentry serves as a one-source provider of data center, cloud computing and managed technical services. The company also provides diverse and robust colocation and managed Internet services.
About TA Associates
TA Associates is one of the largest and most experienced middle-market growth private equity firms. The firm has invested in over 400 companies globally and has raised more than $16 billion in capital.Website: www.ta.com.