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Ridgemont Equity Partners Leads Investment in Strata Information Group, Including the Acquisition of BHA Technologies

1. Ridgemont Equity Partners invests in Strata Information Group (SIG) to enhance growth. 2. SIG acquires BHA Technologies to strengthen offerings in higher education. 3. CEO states alignment with Ridgemont to provide mission-critical services. 4. Ridgemont and SIG focus on tech-enabled services and organic growth.

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FAQ

Why Bullish?

The investment and acquisition signal growth potential, similar to past successful equity raises in tech sectors.

How important is it?

The article discusses significant investment and acquisition, indicating strong future performance for SIG.

Why Long Term?

Investment aims at sustainable growth; past investments in education tech suggest same trajectory.

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BHAELLI
CHARLOTTE, N.C.--(BUSINESS WIRE)--Ridgemont Equity Partners (“Ridgemont”), a middle market private equity investor, today announced its investment in Strata Information Group (“SIG” or the “Company”), a leading provider of managed services for higher education. The Company’s comprehensive service offering includes Enterprise Resource Management (ERP), Customer Relationship Management (CRM), cybersecurity, and other enterprise level managed service and application service capabilities. Shortly after the closing of Ridgemont’s investment, SIG acquired BHA Technologies (“BHA”), a strategic service partner to higher education software provider Ellucian. Brent Rhymes, CEO of SIG, commented, “The SIG management team is thrilled to partner with Ridgemont. We are aligned with a partner that shares our vision of providing high-quality and mission-critical services to higher education institutions. Ridgemont also brings experience and resources to accelerate organic and inorganic growth. To begin our partnership, we are acquiring BHA, which underscores our commitment to the Ellucian Partner Network and our strategic relationship with Ellucian.” Anthony Cassano, Partner at Ridgemont, stated, “We are excited to partner with the SIG management team to accelerate growth. The Company is a market leader in higher education, strategically positioned to capitalize on the broader growth trends within the technology services industry. We have closely tracked the Company’s success for several years given our investment activity within the education vertical and firmwide focus on tech-enabled service business models.” “The Company has a proven track record of expanding its service offerings in the higher education sector, with long-standing customer relationships and a team of talented industry experts. Building on this strong foundation, we are excited to support SIG's continued growth through organic initiatives and strategic acquisitions like BHA,” said Ryan Shanahan, Principal at Ridgemont. Fort Point Capital invested in SIG in 2021 and remains a minority investor in the Company alongside Ridgemont and SIG’s management team. Canaccord Genuity and Goodwin Procter LLP served as financial and legal advisors to Ridgemont, respectively. Baird and Kirkland & Ellis LLP served as financial and legal advisors to SIG, respectively. Debt financing for the transaction was provided by BMO Sponsor Finance and Crescent Direct Lending. About Strata Information Group (SIG): Strata Information Group is a leading provider of IT services to higher education institutions. SIG offers comprehensive technology consulting solutions, including software implementation, cloud migration, digital transformation, cybersecurity, database administration, and ongoing support services. For more information, please visit www.sigcorp.com. About BHA Technologies (BHA): BHA Technologies is a leading provider of technology consulting solutions specifically tailored for higher education institutions. BHA offers comprehensive services, including system implementations, migrations, managed services, and cybersecurity services, helping institutions streamline processes, enhance student experiences, and achieve strategic goals. About Ridgemont Equity Partners: Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies. www.ridgemontep.com

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