Los Angeles, CA – November 2, 2020 –
OpenGate Capital, a global
private equity firm, announced today that it has acquired Aurotech, Inc.
(“Aurotech”) from the founder of the business through a majority interest
investment. Aurotech’s founder, Mr. Hetal Patel, continues to serve as President
and CEO. Terms of the transaction were not disclosed.
Founded in 2007, Aurotech is a provider of digital services
and business solutions for US federal healthcare and adjacent civilian agencies
for which they design and implement information technology plans and build
technology powered business tools. Aurotech’s capabilities span five
addressable market segments:
Digital strategy and transformation
Cloud computing, Application modernization
Data science and engineering, Cybersecurity
Patel and the senior management team will continue to lead
the company’s operations and strategic growth initiatives out of its
headquarters in Silver Spring, Maryland.
Andrew Nikou, OpenGate Capital’s Founder and CEO commented,
“OpenGate’s investment in Aurotech represents a significant opportunity to
bring our full suite of operational and institutional support to an exciting
business.
This partnership also represents OpenGate’s continuing commitment to
lower-to-mid market, technology related companies that can benefit from a
collaborative and highly engaged partner.”
Patel stated, “OpenGate Capital is a great partner for
Aurotech and through this investment we have a unique opportunity to continue
building on the brand and the legacy we have created.
We plan to accelerate our
efforts to grow through our people, technology, systems, and service offerings
to ultimately increase the value we deliver to our customers.”
OpenGate Capital sourced Aurotech through its global
origination team led by Joshua Adams – Managing Director, and Rafael Baron –
Vice President. The following team members are responsible for negotiating and
overseeing the investment: Aaron Figura, Principal – M&A; Damian Blazy,
Principal – Operations; and Vinay Menon, Vice President – Operations.
G Squared Capital Partners served as exclusive financial
advisor to Aurotech on this transaction.
With OpenGate’s support, Aurotech will actively seek add-on
acquisitions.
About OpenGate Capital OpenGate Capital is a global private equity firm
specializing in the acquisition and operation of businesses to create new value
through operational improvements, innovation, and growth. Established in 2005,
OpenGate’s professionals possess the critical skills needed to acquire,
transition, operate, build, and scale successful businesses. To date, OpenGate
Capital has completed more than 30 acquisitions including corporate carve-outs,
management buyouts, special situations, and transactions with private sellers
through its legacy, pre-fund and institutional funds. To learn more about
OpenGate, please visit www.opengatecapital.com.
OpenGate Media Contacts Alanna Chaffin, Co-Head of Investor Relations &
Communications
Email: achaffin@opengatecapital.com Telephone: +1 (310) 432-7000
OpenGate Business Development Contact Joshua Adams, Managing Director – Head of Global Origination
Email: jadams@opengatecapital.com Telephone: +1 (310) 432-7000
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