Irvine, CA – September 27, 2022 – Sverica Capital Management LP (“Sverica”) announced today that its portfolio company, Synoptek (or the “Company”), has sold a majority stake to investment firm Quad-C Management (or “Quad-C”). Sverica will retain a minority position as a result of the transaction.
Founded in 2001 and headquartered in Irvine, CA, Synoptek is a leading full-service business technology solutions provider. The Company partners with customers to envision, transform and evolve their businesses to achieve better results using technology. The Company’s global technology services implementation and management platform enables customers to accelerate their use of technology and reduce technology operating expenses.
Synoptek has experienced significant growth since Sverica’s initial investment in October 2015. Under Sverica’s ownership, Synoptek completed five strategic acquisitions which helped increase the Company’s delivery capacity in various geographies and meaningfully expanded its portfolio of services. Today, Synoptek employs over 1,000 technology professionals spanning 12 offices globally. The demand for Synoptek’s services is fueled by growing business dependence on technology and the widespread adoption of cloud platforms such as Microsoft Dynamics, Salesforce, ServiceNow, Azure, AWS, Microsoft 365, and Google G-Suite.
Frank Young, Managing Partner at Sverica, said, “Synoptek has accomplished a tremendous amount since we first joined forces with Tim to further scale the business. During our partnership, the Company experienced dramatic growth, built out a global footprint, and materially expanded its portfolio of service offerings, all of which were beneficial to customers. Tim, the management team, and the employees of Synoptek were great partners throughout. The Company is extremely well positioned for the future, and we look forward to continuing to retain a minority position under the leadership of the Company by Tim and Quad-C.”
Tim Britt, CEO of Synoptek, said, “Sverica became a valuable extension of our team. They had an immediate impact by initiating a pivotal discussion of service portfolio strategy and a shift to cloud-related services. They were great partners and provided important input on the overall direction of the Company which drove accelerated growth.”
“Synoptek and Sverica forged a strong partnership, and the Company’s expanded capabilities, expertise, and resources resulting from strategic investments made with Tim and the Synoptek team position the Company well to deliver valuable full-stack service to customers. We’re excited to continue supporting the Synoptek team as they embark on a new chapter in the Company’s growth,” said Ryan Harstad, Partner at Sverica.
Synoptek is a global Business and Technology Consulting and Advisory firm that helps companies envision, transform, and evolve. As a Global Systems Integrator and managed Technology Services Provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their business. With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps organizations grow their business while optimizing and protecting their IT ecosystem. With growth, ownership, inclusivity, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders. Discover more at www.synoptek.com, or connect with Synoptek on Facebook, Twitter and LinkedIn.