October 11, 2021
American Securities to Fuel Trace3's Expansion
Trace3 Inc. ("Trace3" or "the Company"), a technology consultation and services provider, today announced a new financial partnership with American Securities LLC, a leading U.S. private equity firm. The transition of ownership from H.I.G. Capital ("H.I.G.") to American Securities marks the beginning of another era of growth and expansion for the Company.
"The entire Trace3 management team is thrilled to partner with American Securities," said Rich Fennessy, Chief Executive Officer of Trace3. "American Securities is a firm that shares our values of hiring top tier talent, establishing sustainable growth, and maintaining a competitive advantage through industry-leading solutions. We look forward to an accelerated trajectory for the Company while maintaining our unique culture that attracts the best talent in technology."
Headquartered in Irvine, Calif., Trace3 is a leading digital transformation and IT solutions provider to commercial and enterprise clients, including many of the Fortune 500. Since its founding in 2002, Trace3 has established a national, market-leading position in the technology solutions provider space with significant expertise in cloud, security, data intelligence, managed services, data center infrastructure, and emerging technology. Trace3 employs more than 500 engineers with deep domain expertise across consulting, IT design and architecture, implementation, and related support disciplines.
"Trace3's combination of unparalleled engineering expertise and focus on innovation delivers unique value to clients by addressing current day technology needs while preparing for future growth," said Kevin Penn, a Managing Director of American Securities. "We will partner with Trace3 and offer resources that allow the Company to continue to augment its portfolio and footprint to stay ahead of the evolving technology landscape."
Rob Wolfson, Executive Managing Director of H.I.G., said that Trace3 is one of the best performing portfolio companies H.I.G has worked with.
"Trace3's leadership team is among the most skilled in the industry and its engineers are extremely talented in their disciplines," Wolfson said. "Couple that with clients who are drawn to technology innovation, and we truly believe that Trace3 is a limitless organization with the right investments."
Trace3 is a premier provider of technology consultation services and advanced IT solutions. Founded in 2002, Trace3 empowers organizations to embrace the ever-changing landscape through elite engineering and insightful innovation. With deep roots in the data center, Trace3 offers a broad mix of end-to-end technology services and solutions. These range from artificial intelligence and data insights to cloud computing and security consulting. 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. For more information, visit www.trace3.com.
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. For more information, visit www.american-securities.com.