American Securities to Purchase Know-how Consultancy and Options Supplier Trace3
NEW YORK, September 27, 2021 / PRNewswire / – American Securities LLC, a leading US private equity firm, announced today that it has entered into a definitive agreement to acquire Trace3, Inc. (“Trace3” or the “Company”) from a subsidiary of HIG Capital has completed. Financial terms of the transaction were not disclosed.
As an industry leader in emerging technologies, Trace3 is a leading provider of IT solutions and services to business and enterprise customers in the United States. Trace3 remains at the forefront of the technology innovation curve, providing customers with some of the most advanced cloud technologies, data center designs, security strategies and business intelligence solutions in the industry. The company is based in Irvine, CA. with offices throughout The United States.
“Our team is proud and excited to be working with American Securities as we move into our next phase of growth,” said Rich Fennessy, chief executive officer of Trace3. “With your support, we will continue to invest in our talent and expand our service capabilities to provide industry-leading advisory and technology solutions to our customers.”
“Trace3’s extensive technical expertise, capabilities, and nuanced focus on emerging technologies uniquely position the company to meet the evolving technological challenges facing its customers,” said Kevin Penn, a managing director of American Securities. “We are excited to work with Rich and his team to further advance Trace3’s industry-leading platform. We believe our industry experience enables us to deliver value that enhances the company’s great growth trajectory.”
Guggenheim Securities LLC to serve as exclusive financial advisor to Trace3; Akerman LLP and Latham & Watkins LLP are serving as legal advisor to Trace3 and HIG on this transaction. Kirkland & Ellis LLP is serving as legal advisor to American Securities.
About Trace3
Trace3 is a leading provider of consulting services and advanced technical solutions. Trace3 was founded in 2002 and enables companies to capitalize on the ever-changing IT landscape through world-class engineering and dynamic innovation. Trace3 also runs a Venture Capital (VC) CXO briefing program with a strong focus on new technologies and offers its clients extensive research on the latest IT trends.
http://trace3.com/
About American securities
American Securities, headquartered in New York with an office in Shanghai, is a leading US private equity firm investing in market-leading North American companies with annual revenues generally ranging from $ 200 million to $ 2 billion. American Securities and its affiliates have more than $ 25 billion under management.
american-security.com
SOURCE American Securities LLC
similar links
http://trace3.com/
http://www.american-securities.com
