September 27, 2021
American Securities to Acquire Technology Consultancy and Solutions Provider Trace3
American Securities LLC, a leading U.S. private equity firm, announced today that it has entered into a definitive agreement to acquire Trace3, Inc. ("Trace3" or the "Company") from an affiliate of H.I.G. Capital. Financial terms of the transaction were not disclosed.
As an industry leader in emerging technologies, Trace3 is a premier provider of IT solutions and services to commercial and enterprise clients across the U.S. Through elite engineering talent, dynamic leadership, an in-house research team, and unparalleled venture capital connections among its peers, Trace3 stays on the leading edge of the technology innovation curve and empowers its clients with some of the most advanced cloud technologies, data center designs, security strategies, and business intelligence solutions in the industry. The Company is headquartered in Irvine, CA with offices across the United States.
"Our team is proud and excited to partner with American Securities as we embark on our next phase of growth," said Rich Fennessy, Chief Executive Officer of Trace3. "With their support, we will continue investing in our talent and expanding our services capabilities to deliver industry-leading consulting and technology solutions to our clients."
"Trace3's deep engineering expertise, extensive suite of capabilities, and differentiated focus on emerging technology uniquely positions the Company to address evolving technology challenges for its clients," said Kevin Penn, a Managing Director of American Securities. "We are excited to partner with Rich and team to further fuel Trace3's industry leading platform. We believe that our experience in the industry allows us to deliver value that will enhance the Company's great growth trajectory."
Guggenheim Securities LLC is serving as exclusive financial advisor to Trace3; Akerman LLP and Latham & Watkins LLP is serving as legal counsel to Trace3 and H.I.G. for this transaction. Kirkland & Ellis LLP is acting as legal counsel to American Securities.
Trace3 is a premier provider of consultation services and advanced technical solutions. Founded in 2002, Trace3 empowers organizations to embrace the ever-changing IT landscape through elite engineering and dynamic innovation. Trace3 also maintains a Venture Capital (VC) CXO Briefing program, with a sharp focus on emerging technologies, and provides clients with extensive research focused on the latest IT trends.
About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests 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.