Venture Tech merges with ISC, acquires SAT
by For the MBJ
Published: August 20,2014
RIDGELAND, Mississippi — Venture Technologies has announced that its merger with Information Systems Consulting, Inc. (ISC), headquartered in Denver, Colo., is complete. The newly formed company will continue to operate under the name of Venture Technologies. This transaction creates a leading technology and cloud solutions provider, consistent with the emergence of hybrid technology partners. The company is differentiated by its technical expertise, commitment to customer service and operational excellence. As a result of the consolidation, Venture will operate three data centers, including Venture’s VTCloud® in Jackson, Miss. Concurrent with the merger, it was also announced that the acquisition of Strategic Allied Technologies (SAT) in Birmingham, Ala. was complete. SAT is a strong solutions provider that augments Venture’s expertise and capabilities in the Southeast.
As a result of the merger and concurrent acquisition, Venture will employ a staff of 205, including 61 account managers, 11 technical architects and 101 engineers producing almost $150 million in annual revenue. Venture Technologies now owns and operates SOC II Type II, data centers in Jackson, Miss., Denver, Colo., and Casper, Wyo., along with additional resilient co-located infrastructure in Dallas, Texas. Headquartered in Ridgeland, Miss., the company’s locations include a recently constructed state-of-the-art facility in Denver, Colo., as well as operations in Alabama, Louisiana, Tennessee and Wyoming.
The merger and acquisition represent the initial transactions of a much broader consolidation strategy. “We are currently engaged with several other organizations that fit our expansion strategy criteria,” stated Gerard Gibert, CEO of Venture Technologies. “There are numerous quality IT infrastructure and cloud providers operating across the nation, and by building a west/east platform, we are able to expand our capabilities and seek the best fit for us.” Gibert has served as the CEO for Venture Technologies for 29 years and will continue as the CEO of the merged company. In addition, Norman Katool will continue in his capacity as the Chief Financial Officer. “Cloud delivery and consumption of IT, along with the Internet of Things (IoT) will continue to drive innovation and new solutions that we can’t even imagine today,” stated Gibert. “The new Venture Technologies is now poised to enable consolidation and respond to the needs of our clients today and tomorrow, wherever they may be. It is an honor to lead a great company during this exciting time in the IT industry.”
Win Farnsworth founded ISC in 1998, starting as a two-man operation in Casper, Wyo. to over 80 employees in most western states, including its Denver headquarters. “There is benefit for all of us in the channel to look for strength in consolidation, and it was clear to me as this strategy developed,” states Farnsworth. “All of the companies involved bring a culture of honesty and integrity and outstanding customer service, and with the combined technical expertise there is not much we can’t do.” Farnsworth has taken the position as President of the company.
SAT was founded in 2006 by industry veteran Bill Valentz. SAT brings a very professional and experienced sales staff along with a very qualified technical team. “I have known the Venture team for several years and was excited at the opportunity to join them in this project. Getting to know Win has been a pleasure and I look forward to ground running,” stated Valentz. Valentz will help oversee Venture’s Alabama operation and serve on the Board of Directors of the company.
The merger and continued channel consolidation strategy is supported by FlatWorld Capital, a New York-based private equity group that specializes in funding and advising middle-market IT firms. Jeff Valenty, managing partner for FlatWorld, commented on the merger, “We have been looking for a qualified organization for several years that could serve as a platform company primed to execute a consolidation strategy of solution and cloud providers. Gerard, Win, Norman and Bill provide the quality management critical to being successful, bringing Venture, ISC and SAT together to make a perfect platform for further acquisitions. Our team is excited to partner with the Venture team to address the incredible opportunities for growth in IT infrastructure and cloud services industry.”
Venture has partnered with Monroe Capital to provide a $14.3 million credit facility in supporting the company’s consolidation strategy. Based in Chicago, Ill., Monroe is a leading provider or capital to growing mid-market organizations.
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