TAMPA, Fla. (November 1, 2010) – Tribridge (www.tribridge.com), a leading U.S.-based IT services and business consulting firm, has secured equity funding from LLR Partners to fuel Tribridge’s continued growth and expansion into new markets.
Tony DiBenedetto, CEO and Chairman of Tribridge said, “The addition of LLR allows Tribridge to accelerate its vision to be the leading SMB IT Services provider in the U.S. In addition to providing important growth capital, they bring a wealth of experience in building service organizations.”
Tribridge has completed a string of successful acquisitions in recent years and plans to build on that momentum in 2011. The rapid consolidation of the IT services sector, the evolution of cloud computing and escalating partner requirements from leading technology publishers like Microsoft, Dell and others, have made it an optimal time for Tribridge to acquire complementary firms.
“We are delighted to begin our relationship with Tribridge. In addition to being a strong financial performer, Tribridge is well-respected and in an excellent position to grow market share both through acquisition and expanded services to existing customers,” says David Reuter, Partner at LLR Partners.
“Our goal is and always has been to help our clients become more productive, profitable, competitive and secure. The key to our success is in keeping the needs of our customers, not the technology, at the center of our strategy,” said DiBenedetto. “This funding will give us substantial flexibility to continue building expertise in key industries and developing solutions that provide our customers with true competitive advantages.”
Future acquisition targets are not being announced at this time, but U.S. companies engaged in cloud computing and managed services, IT infrastructure, ERP and CRM are a clear focus.
Founded in 1998, Tribridge is a national IT services and business consultancy dedicated to helping customers become more productive, profitable, competitive and secure. From software selection and implementation to technology infrastructure design and support, Tribridge's 300+ professionals leverage a unique combination of industry expertise, technical proficiency and proven service methodology to create an exceptional customer experience and promote a solid return on IT investments. Tribridge serves more than 2,000 customers throughout the United States and has been formally recognized by top companies like Microsoft as a worldwide leader in enterprise resource planning (ERP), customer relationship management (CRM) and other on premise and cloud based solutions and services. www.tribridge.com.
About LLR Partners
LLR Partners, a leading private equity firm based in Philadelphia, Pennsylvania, provides capital to middle market growth companies with proven business models in a broad range of industries. With over $1.4 billion under management, LLR is flexible in its approach, investing up to $100 million, taking minority or majority positions, and leading transactions ranging from expansion and growth capital to shareholder recapitalizations and buyouts. LLR creates value beyond its capital contribution by partnering with existing management and providing strategic counsel and access to our extensive business network. LLR is currently investing out of its $800 million 3rd fund. For more information about LLR, please visit www.llrpartners.com.