PINE BROOK, N.J.–(BUSINESS WIRE)–Core Technology, LLC (“Core Technology” or the “Company”), a national IT lifecycle management company offering field service solutions, announced that it has partnered with Mill Point Capital LLC (“Mill Point”), a middle-market private equity firm focused on control-oriented investments in the business services, IT services and industrials sectors in North America.
The Mill Point team employs an Executive Partner model and has extensive experience investing in the IT services sector. For this transaction, Jeffrey Leventhal, founder of S12F and an industry veteran with over 25 years of operating, management and investing experience, will serve as Mill Point’s Executive Partner. Mr. Leventhal has led multiple software and marketplace companies from idea through exit, driving the vision, product, team, financing and exit strategies. Previously, he founded WorkRails, Work Market, Spinback, OnForce, Hosted Systems, Remote Lojix and LANSafe Network Services. Mr. Leventhal will serve as Executive Chairman of the Company upon the transaction closing.
Core Technology is a leading provider of field service solutions for top OEMs, VARs and Systems Integrators. The Company provides implementation and support services for a variety of end markets including retail, food services, hospitality, banking, telecommunications and data centers. Since inception, Core Technology has been both a top service provider and thought leader in the IT field services industry. The Company is headquartered in Pine Brook, NJ and operates throughout the U.S.
Gary Dedoussis, CEO of Core Technology, commented, “We are proud of what we have created at Core Technology and are excited to partner with Mill Point to broaden our capabilities and services offerings to customers.”
“Our partnership with Mill Point provides meaningful experience and resources that will help us build upon a successful platform with significant growth opportunity,” added Jim Inzalaco, CFO of Core Technology.
“The strength of the entire senior management team should provide a true accelerant to the value expansion of this national operating platform. The Company’s unique service model, consisting of an expansive technician network catering to diverse end markets, has been a large contributor to growth and will be further supported by the partnership with Mill Point,” said Jeffrey Leventhal.
“Jeffrey has been instrumental in transforming the IT field services industry. We are thrilled to partner with him and execute on our value creation plan for Core Technology,” commented Dustin Smith, Partner of Mill Point.
“Under the leadership of Gary, Jim and the management team, Core Technology has grown into a true market leader in IT field services. We look forward to partnering with the team on multiple growth opportunities and other strategic initiatives,” added Brandon Sarno, Vice President of Mill Point.
About Core Technology Solutions
Core Technology is a national IT lifecycle management company offering cost optimized, end-to-end installation field services and other ancillary support services predominantly for OEMs, VARs and Systems Integrators in the U.S. The Company is headquartered in Pine Brook, NJ. For more information, please visit www.core-techs.com.
S12F is a private investment platform founded by Jeffrey Leventhal. The platform served as an advisor to Core Technology for the transaction with Mill Point. S12F typically invests in private equity and venture capital funds where S12F has the ability to help create additional value. Funding for new investments and philanthropic missions is raised through cash flow generation and eventual exits from portfolio companies, as well as through advisory work. For more information, please visit www.S12F.co.
About Mill Point Capital
Mill Point Capital LLC is an operationally-oriented private equity firm targeting control investments in lower-middle market companies, with a focus on industrials, business services and IT services sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.