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Solution Provider Core BTS Sold To Private Equity Firm

The buyer says it plans to use the purchase to build one of the leading solution providers in the market through targeted growth initiatives.

Core BTS, a Madison, Wis. solution provider focused on networking, collaboration, security and data center solutions, was acquired by Tailwind Capital, a New York-based private equity firm.

Core BTS has 15 offices across the Northeast and Midwest, and employs a team of IT consultants and engineers that provide design, implementation, and on-going support services. The company, No. 140 on the 2018 CRN Solution Provider 500, has over 1,000 active customers across diverse industries, including healthcare, education, financial services, gaming and manufacturing.

Financial terms of the deal were not disclosed.

“We are thrilled about our partnership with Tailwind and are excited for the next phase of Core BTS’s growth,” said Walter Cook, CEO of Core BTS, in a statement. “We are looking forward to working with the Tailwind team to leverage their extensive experience within the technology services space, as we look to expand the breadth of our solutions portfolio.”

Tailwind said it plans to build one of the leading solution providers in the market through targeted growth initiatives and a focused M&A strategy, the company said in a statement. Paul Lidsky, former CEO of Datalink, joined Core BTS as chairman of the board concurrent with the closing of the deal. Edison Peres, former senior vice president at Cisco Systems, will remain on the company’s board.

“Core BTS has invested heavily in becoming a leading consulting and managed services organization, advising its clients on their most important IT purchasing decisions,” said Adam Stulberger, partner at Tailwind, in a statement. “We believe the company is well-positioned to capitalize on trends within the IT outsourcing market, which benefit more agile solution providers, like Core BTS.”

Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within business services, healthcare and industrial services. Since inception, Tailwind has managed over $3.6 billion of committed equity capital, and has invested in 38 portfolio companies and over 65 add-on acquisitions.

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