To enhance its client experience, facilitate geographic expansion, and enrich its Next Generation Platform capabilities, Thrive announces that it has finalized a recapitalization with Court Square Capital Partners. In addition, Thrive’s existing financial sponsor, M/C Partners is continuing to participate alongside a substantial ownership stake by the company’s senior management team.
With the new partners, Thrive will accelerate its formidable investments in its Next Generation technology, including ServiceNow, Automation, and AI. The company will also expand its customer success, sales and marketing teams, technical talent, cyber security, and other product offerings, in addition to continued geographic expansion, both organically and via acquisition.
“Thrive is proud to have built a company whose business model has been validated by a sophisticated technology services investor with a strong track record like Court Square,” said Rob Stephenson, CEO at Thrive. “Our goal has always been to be viewed as a leader in the managed services space, and this partnership will greatly benefit our existing customers, as well as provide an opportunity to expand our Cloud, Cyber Security, and ServiceNow-Powered Next Generation Managed Services Platform to new clientele.”
“We’ve been actively pursuing an investment in this space for a long time and believe Thrive’s NextGen Platform provides a differentiated competitive edge in the marketplace,” said Matt Dennett, Principal at Court Square.
“M/C remains a strong advocate of Thrive, its management team, business model, and continued trajectory of success,” said Gillis Cashman, Managing Partner at M/C Partners. “We’re thrilled for the opportunity to carry on as investors and partner with Court Square Capital Partners in this next phase of growth.”
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