Investment firm H.I.G. Capital said today that one of its affiliates has entered into a definitive agreement to sell Irvine-based Trace3 to affiliates of American Securities. No financial terms were released.
Trace3 provides IT solutions and services to over 2,500 commercial and enterprise clients across the U.S.
“H.I.G. was an invaluable partner who enabled us to maintain the culture that makes Trace3 special, while providing strategic vision in helping us build one of the largest solutions providers in the U.S.,” said Rich Fennessy, chief executive officer of Trace3. “Our team is proud and excited to now partner with American Securities as we embark on our next phase of growth.”
It’s among the largest privately held tech companies in Orange County.
Tyler Beecher is Trace3’s executive chairman.
For more information, see the Oct. 4 print edition of the Business Journal.
