Cloud Equity Group Acquires Integrated Enterprise Solutions
July 19, 2021
NEW YORK, NY (July 19, 2021) – Cloud Equity Group (“CEG”), a leading LBO private equity firm focused on tech-enabled business service providers, is pleased to announce the acquisition of New York-based Integrated Enterprise Solutions (“IES” or the “Company”) by one of its investment funds. IES will be a new standalone platform investment in the Cloud Equity Group portfolio and IES’s operations, management team, and personnel will remain unchanged following the CEG investment. Financial terms were not disclosed.
Founded in 1998 and headquarter in upstate New York, IES is a leading provider of IT services to small and medium sized businesses across the state. IES provides a broad range of services including managed services, business continuity, security, cloud services, HIPAA analysis, virtualization, and strategic planning and consulting. The company specializes in process-driven engagements to build efficiencies, increase security, and maintain reliability.
Sean Frank, a Managing Partner at Cloud Equity Group, said “IES has established as a best-in-class New York-based provider that can leverage its team, infrastructure, and professional organization to expand its national reach. We look forward to partnering with co-founders Alexandra Putman and Eric Gorman and the rest of the team to further build on the Company’s impressive track record of growth along several macroeconomic tailwinds including the global COVID-19 pandemic.
Alexandra Putman, CEO and co-founder of IES, said, “Cloud Equity Group is the right partner at the right time. Joining with Cloud Equity Group is an exciting change for our customers and team members as we move to accelerate growth and expand the IES family. Cloud Equity Group brings a wealth of resources and expertise that will further enhance the value and solutions we provide our customers. Our team is energized by the opportunity ahead of us."
About Cloud Equity Group
Cloud Equity Group is a strategically positioned investment management firm capitalizing on the rapidly expanding industries of web hosting and cloud-based infrastructure. The company’s primary focus is leveraging investor capital in the acquisition of private lower middle market companies that possess high levels of unlevered free cash flow and/or significant opportunity for exponential growth.
About Integrated Enterprise Solutions
Integrated Enterprise Solutions is a computer consulting firm that uses its global experience to provide cutting-edge business technology solutions, made personal. The firm's goal is to provide a creative, innovative, and proactive approach to all our customer’s needs.
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