Source Capital, a private equity firm focused on lower middle-market companies, is pleased to announce the acquisition of BlueAlly Technology Solutions (“BlueAlly” or the “Company”). BlueAlly is a leading provider of IT services and solutions focused on serving customers’ infrastructure and security needs.
Headquartered in Cary, NC, BlueAlly’s services span the entire technology life cycle from initial design and implementation to on-going managed security and infrastructure services. The Company has established itself as an industry leader through its comprehensive offerings and deep technical-expertise.
“We welcome the Source Capital team to the BlueAlly family, and value the experience, insight, and partnership approach they bring to accelerate our company’s growth,” said Vijay Tanamala, founder and Executive Chairman of BlueAlly. He added that the partnership will enable BlueAlly to leverage the solid platform and teams that are in place to further gain market momentum in the emerging areas of Infrastructure Automation and Managed Security Services.
Eric Reisberg, CEO of BlueAlly, commented, “The partnership with Source Capital adds an exciting new dimension to our market expansion, and greatly strengthens our management bandwidth to execute strategic initiatives. Source Capital’s partnership with BlueAlly is a testament to the quality of our team and their deep experience in IT infrastructure and dedication to our customers.”
Tom Harbin, Managing Partner at Source Capital, stated, “BlueAlly has built an impressive IT services platform. We are thrilled to partner with the BlueAlly team and we look forward to growing the business together.”
Centerfield Capital Partners provided subordinated debt and an equity co-investment to finance the transaction. Source Capital was introduced to the Company by RGF Capital.
About BlueAlly Technology Solutions
Founded in 2011, BlueAlly has continually expanded its offerings to meet the ever-increasing IT needs of its customers. The Company takes pride in its thoughtful and technical approach to provide the best services and solutions. Over the years BlueAlly has earned the trust as a preferred partner to some of the world’s largest companies and also established deep relationships with industry-leading technology partners. To learn more about BlueAlly, please visit: https://blueally.com/
About Source Capital, LLC
Source Capital, LLC is a private equity firm that invests in mature, lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 23 equity platform investments, 39 add-on acquisitions and 28 debt investments. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team.