Nautic Companions and VC3 Administration Associate full recapitalization of VC3
COLOMBIA, SC & PROVIDENCE, RI – (BUSINESS WIRE) – Nautic Partners (“Nautic”) is pleased to announce that, in collaboration with VC3 management, the recapitalization of the VC3 family of companies (“VC3”), a market-leading managed information technology provider, has been completed to local governments and commercial customers.
The new partnership enables VC3 to invest in core areas such as customer success, technical talent and new technologies, and to expand its core solution offerings such as cybersecurity and cloud. VC3 will use these investments to accelerate its geographic expansion.
Sandy Reeser, Chief Executive Officer of VC3, said, “I am incredibly proud of the team that we have at VC3, the passion our team has for serving our customers, and the growth we have seen so far. We are very happy to have the opportunity to work with Nautic, which also shares our vision to serve communities and businesses across the country while maintaining our culture and excellent service. ”
Dave Mims, Vice President Marketing, added, “I’m excited about our partnership with Nautic and how they can help us fulfill our vision of serving every city and state. Today we serve municipalities and companies in 16 states. With Nautic as a partner, we are working to accelerate our growth by expanding into new states. ”
Mark Perlberg, Managing Director at Nautic, said, “The VC3 investment continues Nautic’s strategy of identifying and supporting world-class management teams. We look forward to working with Sandy and his team to drive future growth both organically and through attractive acquisition opportunities. ”
“Nautic has examined several investment opportunities in managed services and VC3 represents a truly unique platform with an unwavering commitment to customer service and a differentiated culture,” said S. Shahan Zafar, Principal of Nautic. “We look forward to working with VC3 to provide industry-leading IT and cybersecurity solutions to its customers and to act as a trusted advisor in solving their ever-evolving technology vulnerabilities.”
Latham & Watkins LLP served as legal advisor to VC3 and its shareholders, including WestView Capital Partners. Locke Lord LLP was Nautic’s legal advisor. Additional financial support for VC3 was provided by Deerpath Capital Management, LP.
VC3 is a leading provider of managed services with a focus on municipal and medium-sized companies. VC3 was founded in 1994 and is headquartered in Columbia, South Carolina. The company partners with organizations to achieve their technology goals and leverage their data. VC3 not only offers comprehensive managed IT solutions, but also cybersecurity, cloud services, website design, custom application development and business intelligence services. Visit www.vc3.com to learn more.