Private equity firm Quad-C Management in Virginia has bought a majority stake in Irvine-based IT services provider Synoptek. Financial details were not disclosed.
“As customers move to cloud platforms, Synoptek has grown its capabilities to deliver more value and Quad-C’s investment will be instrumental in our continued organizational expansion,” Tim Britt, Synoptek’s chief executive officer, said in a statement today. “This investment will enable us to grow and extend our service offerings for clients as well as create new and strategic career opportunities for our team. The partnership is a strong fit for us both.”
Synoptek’s former private equity partner, Sverica Capital Management, invested in the company in 2015 and has plans to remain a minority stakeholder in the future.