Washington, DC, (June 14, 2022) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that Lighthouse Technology Partners has been acquired by Coretelligent, a mid-market managed service provider (MSP) backed by private equity firm Norwest Equity Partners (NEP). FOCUS served as catalyst for the deal with Coretelligent, and exclusive financial advisor to Lighthouse Technology Partners. Financial terms of the deal were not disclosed.
Lighthouse Technology Partners, based in Greenwich, Connecticut, offers managed IT, cybersecurity, business transformation, and cloud services.The MSP’s clientele spans finance, life sciences and healthcare, and professional services sectors. The Lighthouse leadership team will join Coretelligent’s team in “expanded leadership roles,” though specific executive moves were not disclosed.
Coretelligent, founded in 2006, has 194 employees listed on LinkedIn. The company is based in Westwood, Massachusetts, with additional offices in New York City, Philadelphia, Atlanta, Stamford, Scarborough, and the San Francisco Bay area, and expanded support locations in Dallas, Los Angeles, Philadelphia, Tampa, Washington, DC, and West Palm Beach, Florida.
“Coretelligent is incredibly excited to welcome the exceptional caliber of professionals on the Lighthouse team along with their world-class clientele,” commented Kevin J. Routhier, Coretelligent Founder, President, and CEO. “Light- house and Coretelligent are in complete alignment with regard to prioritizing both the client and employee experience. Bringing the firms together further enhances Coretelligent’s industry-leading domain expertise in the practice areas of digital and business transformation, security, compliance, and next-generation managed services.”
“Joining the Coretelligent family is an incredible opportunity for the Lighthouse ecosystem,” added David Gerstenmaier, vice president of Lighthouse Technology Partners. “With their overall business focus closely aligned with our own, we’re confident that joining Coretelligent will be beneficial and productive for our clients and employees. Hands down, this acquisition ensures we are better positioned for future success. For both our clients and employees, it was clear that this amazing combination creates the rare opportunity of 1+1 = 5.”
The acquisition of Lighthouse Technology Partners marks Coretelligent’s second successful acquisition in 2022, signaling the healthy position of the company since NEP added Coretelligent to its investment portfolio in October 2021. Coretelligent’s previous acquisitions include Chateaux; United Technology Group, LLC; SoundView IT Solutions, LLC; and Soundshore Technology Group.
“It was such a pleasure working with Brian on the transition of his business to Cortelligent,” said Abraham Garver, FO- CUS MSP Team Leader and Managing Director. “One of Brian’s greatest talents in business is to serve as a coach to his team.Therefore it was especially meaningful to see the team he built prepare to join together with another amazing management team. More than anything it was a joy to see them both be so passionate about joining together.”
About FOCUS Investment Banking (“FOCUS”)
With more than three decades of experience, FOCUS Investment Banking is a trusted name in middle market M&A advisory services worldwide. Whether helping to sell, buy, or raise capital, FOCUS strives to maximize the value of every transaction for the benefit of its clients.
FOCUS’ Managed Service Provider (MSP) Team is one of the most active and successful in North America. FO- CUS’s MSP Team executes on a customized strategy tailored to meet each client’s objectives. We bring deep industry expertise and years of transaction experience to every engagement.
Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information, visit https://focusbankers.com/msp/.