DALLAS – GW Equity, an advisor to privately held and family-owned businesses for mergers, acquisitions, and strategic growth initiatives, announced the sale of its client Carpathia Hosting Inc., a provider of enterprise application hosting, based in Ashburn, Va., to private equity investor Spire Capital Partners LP, of New York. The amount of the transaction was not disclosed.
Carpathia Hosting provides information technology application hosting solutions, including servers, firewall/load balancing, bandwidth, backup facilities collocation and remote monitoring. Founded in 2000, Spire Capital Partners is a private equity group with approximately $600 million in assets under management across a broad range of business services.
Founded in 2003, Carpathia Hosting retained GW Equity to provide business valuation and exit planning services when its owners decided to pursue other business ventures. “GW Equity helped us market the company and maximize on the potential wealth in our rapidly growing business,” said Rick Smith, CEO of Carpathia Hosting. “Spire has excellent resources to continue expanding Carpathia and capitalize on our success.”
Spire Capital Partners was interested in acquiring a company in this sector and was working with an established management team to acquire the company. “We are excited to have Carpathia as part of the Spire portfolio,” said Sean C. White of Spire Capital Partners. “We are looking forward to continuing to aggressively grow the company.”
“The deal between Carpathia and Spire Capital reflects GW Equity’s strong track record of providing valuable advice, securing competitive offers and closing deals on behalf of our clients,” said GW Equity President Ryan Binkley.
GW Equity received interest from numerous parties, but recommended focusing on Spire. “We felt that Spire was well suited to acquire Carpathia because of the strong management team ready to take over,” said Steve Heimstead, GW Equity’s lead managing director for the transaction. “Our team worked very hard to create a deal that would benefit everyone involved and ultimately we were very successful in doing this.”