Personal Equity Acquires Network Administration Computer software Company Auvik

Personal fairness organization Great Hill Partners has invested $250 million in Auvik and obtained a vast majority stake in the cloud-dependent community administration software program service provider for MSPs and IT departments.

Auvik CEO Marc Morin

This is technological know-how M&A offer variety 421 that ChannelE2E has lined so considerably in 2021. See all technology M&A promotions for 2021 and 2020 outlined below.

Auvik’s in general enterprise valuation was not disclosed, but CEO Marc Morin confirmed to ChannelE2E that the investment decision signifies a the greater part stake in the software program business enterprise.

Auvik, established by Morin, Alex Hoff, and David Yach, develops cloud-centric software package that permits MSPs and IT gurus to regulate third-party networking hardware from Cisco Techniques, Hewlett Packard Enterprise (HPE) and several other providers.

Auvik originally positioned its software package for MSPs, but the corporation has expanded its foundation to all sorts of IT groups — like company IT departments. The company previously lifted $15.6 million in Sequence C funding in May perhaps 2018.

Auvik Receives Personal Equity Investment: Government Views

In a ready statement about the Wonderful Hill expenditure, Auvik’s Morin explained:

“Network administration ought to be easier. That has been Auvik’s rallying cry considering the fact that 2011 when we set out on a quest to give IT pros, and the companies they assist, some thing improved – anything a lot quicker and less difficult. By partnering with Wonderful Hill Partners, a expansion trader with deep area expertise and experience, and our continuing trader Celtic Household Venture Companions, we are self-confident that we will be in a position to accelerate our effect and deliver trustworthy IT answers to IT industry experts almost everywhere.”

Extra Drew Loucks, a running director at Excellent Hill Partners:

“Auvik has a actually revolutionary method to ITOps and has designed highly effective computer software that IT groups not only love using, but is crucial to their functions. We have been extremely amazed with the company’s consumer gratification ranking and name and we consider the group is nicely positioned to capture a considerable portion of the evolving marketplace shifting ahead.”

Terrific Hill’s Investment Encounter

Neither Auvilk nor Excellent Hill precisely described an MSP lover method in the expense announcement. But in a abide by-up email interview about the offer, Morin emphasized Auvik’s ongoing dedication to MSPs.

Also, Fantastic Hill has encounter investing in and close to the MSP know-how sector. The non-public fairness firm’s noteworthy investments have bundled:

Numerous advisor organizations ended up involved in the Auvik-Wonderful Hill offer. For occasion:

  • AQ Know-how Partners served as monetary advisor and Dentons Canada LLP served as authorized counsel to Auvik.
  • Choate, Corridor & Stewart LLP and Blake, Cassels & Graydon LLP served as authorized counsel to Fantastic Hill Companions.

Ahead of the coronavirus pandemic, there had been rumors that an MSP software program business may obtain Auvik. But the rumors quieted down when the pandemic began to bring about enterprise lockdowns in North The usa.