Huron Capital’s InterVision Announces Fifth Add-on Acquisition
Detroit, MI – October 3, 2019 – Leading lower-middle-market private equity firm Huron Capital today announced 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, California-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.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. 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, please visit: www.huroncapital.com.
About InterVision Systems
InterVision’s mission is to unlock value by delivering innovative technology through a consultative approach. As a strategic service provider, the company delivers innovation through a broad portfolio of IT managed services, on-premise solutions, professional services, cloud solutions, automation and consulting services that organizations need to thrive in today’s dynamic IT market. InterVision’s vendor-certified sales and engineering staff have specialized expertise in all areas critical to IT environments. 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 U.S. For more information on InterVision’s offerings, visit www.intervision.com.
About Fotis Networks
Fotis Networks LLC is a privately held ISO 9001-compliant business providing IT professional services to clients in commercial, healthcare, education, and government (federal, state and local) sectors. Fotis has built its reputation over two decades by consistently surpassing clients’ expectations while delivering resilient, secure solutions that maximize current and long-term investments in IT. Founded in 1998, Fotis is headquartered in Boston, Mass. For more information, visit www.fotisnetworks.com.
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.