7 Mile Advisors acted as financial advisor to Highstreet IT Solutions, LLC ("Highstreet") in its majority recapitalization with Transition Capital Partners, LLC ("TCP") and Petra Capital Partners ("Petra Capital"). The transaction further strengthens the Company’s leadership position in Enterprise Software (ERP) in the Cloud and Cloud Services, while supporting the subsequent acquisition of Enterprise Solutions Group (ESG), an ERP implementation firm and Oracle Platinum Partner.
Mac Slingerlend, Highstreet’s Founder, commented, "As former CEO of CIBER (NYSE: CBR), and needing capital to scale my business more quickly, I needed to pick an investment bank whose business model included helping companies find the right equity capital partners as well as sourcing M&A opportunities. We chose 7 Mile Advisors based on their experience, business model and commitment to help Highstreet IT Solutions.” 7 Mile was pleased to serve Mr. Slingerlend given his operational expertise, M&A experience and advisor access earned while leading CIBER through over 25 significant acquisitions and a global leadership position in technology services.
About Highstreet IT Solutions, LLC
Highstreet IT Solutions, LLC is a 21st century style IT services company, founded to provide Cloud-based services and Enterprise Software in-the-Cloud and Enterprise Software to-the-Cloud to middle-market and larger clients. Cloud-based services are in the RIM, hosting, application support and web services arena, on multi-year engagements and will include the SME marketplace. Highstreet's services are offered on a project and managed services contract basis, in both Cloud and enterprise software solution package environments, and across all technology platforms, operating systems and infrastructures. Founded by an experienced group of industry experts, Highstreet serves clients that have domestic and global business operations. Headquartered in the Denver area, with resources nationally and an emerging offshore solution center in Bangalore, Highstreet is private equity backed. For more information, visit www.highstreetit.com
About Transition Capital Partners
Transition Capital Partners ("TCP") is a Dallas-based private equity firm with over 20 years of investing in leveraged recapitalizations and management buyouts of well-managed, entrepreneurial, lower middle market service oriented businesses. TCP is particularly successful investing in high growth companies where additional management and strategic resources are required by the existing ownership group. We typically provide the entrepreneur an opportunity to gain liquidity, while maintaining a significant stake in the business for future upside, and if desired, a reduced management role. For more information about Transition Capital Partners, please visit www.tcplp.com
About Petra Capital Partners
Petra Capital Partners is a Nashville, TN based private equity firm founded in 1996, engaged in providing growth capital for companies located throughout the United States. The partners of Petra have invested approximately $500 million in nearly 100 high growth private companies over the past 20 years. Petra Capital Partners is currently investing out of their fourth fund, closed in April 2013, with $230 million of available capital. They are licensed as a Small Business Investment Company (SBIC) by the U.S. Small Business Administration. For more information, please visit Petra's website at www.petracapital.com
About 7 Mile Advisors
7 Mile Advisors is a boutique investment bank which enables clients to increase and unlock enterprise value. 7 Mile serves clients worldwide by addressing the transactional and strategic opportunities faced by middle-market companies, boards, and financial sponsors. The firm provides customized mergers & acquisitions, private placement and restructuring services. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC.
For more information, including research on the M&A markets, visit www.7mileadvisors.com