CLEARWATER, Fla.--(BUSINESS WIRE)--Vology, a leading provider of managed cloud and security services, is excited to announce that it completed a transformative financial recapitalization last week. The recapitalization was led by the Capitala Group, an investment firm based out of Charlotte, North Carolina.
Barry L. Shevlin, Vology’s President and Chief Executive Officer, stated, “This transaction is extremely positive news for our Company, our customers, business partners and employees. With a strengthened and simplified balance sheet, we are now well positioned to continue to invest in and grow our business. We have outstanding, hardworking employees and a strong management team, all of whom are committed to serving our customers and to our long-term success.”
Steve Torres, Vology’s Chief Operating & Financial Officer, said, “The recapitalization of our balance sheet resets the financial footing of Vology and positions us to execute our growth strategy. We believe this transaction demonstrates both strong underlying values of our business, as well as confidence in the Company’s ability to execute its strategic plan. With this transaction completed, we now have the necessary working capital to support our continued investments in Managed Services, Cloud, and Security solutions."
Peter Sherman, Chief Risk Officer of Capitala Group, commented, "We are excited to lead a capital restructuring and provide fresh growth capital to Vology. Supporting valuable mid-market businesses like Vology and helping them grow is core to Capitala's mandate of supporting mid-market businesses with both capital and operational guidance."
About Vology
Vology, a leading Managed IT, Security and Cloud Services Provider, positions companies for growth by empowering digital transformation and delivering custom solutions. Vology currently monitors, manages and maintains 260,000 devices at 32,000 customer sites, providing 24/7/365 support through its U.S.-based Network Operations Center (NOC) and Security Operations Center (SOC). The company also provides field services with access to 2,200 fully audited field technicians nationwide. Vology is ranked as the No. 21 Managed Services Provider in the world on the 2018 MSP 501 list. To learn more about Vology and its managed IT, security and cloud services, visit vology.com. To keep up with industry trends and news, read Vology’s blog. To stay social with Vology, connect on Linkedln, Twitter and Facebook.
About Capitala Group
Capitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies through its credit, growth and equity investment strategies throughout North America for twenty years. Since its inception in 1998, Capitala has invested in over 150 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for its individual and institutional investors. For more information, definition and details visit Capitala Group’s website at www.CapitalaGroup.com.
Contacts
Julie Hansen
727.309.6479
jhansen@vology.com