CIVC Partners Acquires Datavail Corp.

On January 16, 2024, Chicago-based middle-market private equity firm CIVC Partners, LP, announced its acquisition of Datavail Corp, a leading data managed services provider. The acquisition was from a group of growth investors led by Catalyst Investors, a New York-based growth equity firm specialized in seed-stage, early-stage, and later-stage technology and software companies.

Datavail was founded in 2008 as a spin-off from Stratavia’s managed database services division—an automatization solutions firm for databases and data centers. Datavail, under CEO Scott Frock’s leadership, expanded through a series of acquisitions, evolving into a full-service managed services provider. The firm supports mid-market, enterprise, and SMB clients manage their data and applications both in cloud and on-premise environments.

Scott Frock expressed eagerness towards this partnership with CIVC, citing their shared vision for Datavail and CIVC’s decade-long experience investing in the managed services and IT services sectors. Frock anticipates CIVC’s role as a significant ally to Datavail in executing both organic and non-organic growth initiatives.

John Compall, a Partner at CIVC, welcomed the partnership with Datavail, acknowledging the company’s position as a leading data managed services provider due to its investments in automation, service diversity, and global scale. Similarly, Andrew Roche, a Principal at CIVC, highlighted that this partnership offers an exciting opportunity for CIVC to collaborate with a robust management team and invest in a burgeoning managed services company in a highly fragmented industry.

The partnership emphasizes CIVC’s extensive investment portfolio in the IT services industry, including ventures like Computer Aided Technology, iVision, KeyData, Allata, and Industrial Networking Solutions. Legal advice to CIVC was provided by Kirkland & Ellis LLP, while financial consultation was handled by Moelis & Company. Datavail’s financial advisor was Citizens M&A Advisory, and legal counsel was offered by Lowenstein Sandler LLP.

About CIVC Partners, LP: CIVC Partners is a private equity firm, established in 1970 in Chicago to provide growth capital to entrepreneurs and founders. Since 1989, CIVC has invested more than $2.3 billion across 80 platforms, mostly as growth and buyout capital, along with middle-market companies’ founders and executives, chiefly in the business services sector. Presently, CIVC Partners invests from CIVC Partners Fund VI.

Source: Press Release