Jacmel Growth Partners Announces Investment in Virtual Technologies Group
NEW YORK, Oct. 11, 2022 /PRNewswire/ -- Jacmel Growth Partners (Jacmel), a minority-owned, private investment firm focused on working with midsize companies, announced today that it has invested in Virtual Technologies Group (VTG), a leading IT, security, and cloud services firm providing customized solutions for small-to-medium sized companies, as well as Comm-Core, a division of VTG focused on providing cloud-based solutions for security, surveillance, and telecommunications. Strategic capital from Jacmel will support the VTG leadership team's vision of growth and further bolster the company's service capabilities.
Founded in 1962, Virtual Technologies Group is a single source IT solutions provider, specializing in cybersecurity, infrastructure management, VoIP communications, and other core areas of information technology.
"We're thrilled to be partnering with VTG during this very important time," said Nick Jean-Baptiste, Founder and Managing Partner at Jacmel Growth Partners. "The company's impressive track record of client satisfaction and recent expansion only speaks to the hard work and expertise of a truly dedicated team, and one that is consistently inspired and supported by strong senior leadership. At Jacmel, we believe in the power of people and we're excited to help provide additional resources and support to build on VTG's already impressive success."
VTG has a nationwide footprint with its over 1000 customers operating across nearly every State in the US.
"I could not be more excited to have the support o Nick and the Jacmel team as VTG continues to expand further and pursue an ambitious, yet achievable, five-year growth strategy. It's clear they have a true understanding of our company as cloud and managed IT solutions providers and what we need to build on our previous success," said Tom Allen, President of VTG. "We look forward to benefitting from the Jacmel team's expertise in helping companies achieve accelerated growth through additional capital, operational insights, a broader network of relationships, and human capital initiatives."
"Jacmel's track record as a strategic partner is undeniable, and we look forward to collaborating with the team in continuing to build our strong growth business pipeline while ensuring we deliver excellent service to our clients," added Mike Curtis, Chief Revenue Officer at VTG.
Jacmel received financing from KeyBank to complete the partnership arrangement with VTG. Woodbridge International served as a sell-side advisor to VTG. Morrison Foerster served as legal counsel for Jacmel while Wiggin and Dana LLP represented VTG on the transaction.
About Virtual Technologies Group
Founded in 1962, Virtual Technologies Group (VTG) is a single source IT solutions provider, specializing in cybersecurity, infrastructure management, VoIP communications, and other core areas of information technology. VTG prioritizes partner-based relationships to deliver tailored solutions and continues to adapt alongside rapidly developing technological advancements since its inception. Comm-Core, a division of VTG and a leading cloud-based solutions provider for security, surveillance, and telecommunications, works hand-in-hand with VTG to deliver high-quality and competitively priced services for businesses of all sizes. Virtual Technologies Group currently services over 1000 customers nationwide. To learn more, visit https://vtgus.com/.
About Jacmel Growth Partners
Founded in 2015, Jacmel Growth Partners is a private investment firm targeting family-operated, lower middle market companies, with a focus on combining traditional private equity best practices with low-cost, high-impact strategies that promote growth while also benefiting employees and their communities. Since inception, Jacmel and its managers have invested in 11 companies across five platforms, delivering robust investor returns while implementing a range of inclusive economy initiatives, including workforce development, increased Board representation of BIPOC leaders, and educational benefits for employees. The firm is led by Managing Partner Nick Jean-Baptiste, who developed the firm's differentiated approach after over fifteen years of Wall Street and private equity experience. To learn more, visit www.jacmelgp.com.
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SOURCE Jacmel Growth Partners
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