Corbett Technology Solutions bought by Wind Point affiliate
Tower Arch capital has sold comms solutions provider Corbett Technology Solutions Inc (CTSI) to an affiliate of Wind Point Partners for an undisclosed sum.
CTSI is a communications solutions provider focused delivering advanced technology solutions “intended to produce positive business outcomes”. In 2018 it acquired electronics and communication systems provider Communications Specialists and in 2017 acquired Baltimore Sound Engineering.
CEO Gino Ruta (pictured) said: “Tower Arch has provided the strategic guidance, capital, and support we needed to continue to scale into a leading communications solutions provider across the mid-Atlantic.
“Since 2016, we have successfully worked together to grow our leadership team, capabilities, and geographic reach. We have been fortunate to expand CTSI's scale significantly during our partnership with Tower Arch, and we look forward to continuing CTSI's positive momentum with Wind Point.”
Wind Point Partners is a US private equity firm with interests in food, industrial goods, media and business services.
It has committed to continued investment to expand CTSI’s “breadth of service offerings and geographic reach through a combination of organic growth initiatives and acquisitions”. As such, Ruta, along with executive advisors George Pierson and Bob Chauvin will “remain with the business and retain a meaningful ownership stake in the company”.
Ryan Stratton, a partner at Tower Arch said: “Corbett’s world class engineering and design capabilities are truly differentiated in the industry and have allowed CTSI to become the go-to provider for complex communications solutions. We have really enjoyed partnering with Gino Ruta and the entire Corbett organisation.”
Tower Arch Partner David Topham added: “Corbett is representative of Tower Arch's focus on partnering with and growing family and founder-owned businesses to help them reach their next level of growth and success. We appreciate everything that CTSI's founder, Chris Corbett, has put into building the culture and customer-first focus since the company's founding 50 years ago, and we are grateful that he trusted us to be stewards of his business. Corbett has found another great partner in Wind Point to continue its next chapter.”