NEW YORK, September 9, 2024 –
Recognize, a private equity firm focused on investing in technology services businesses with a thematic and operationally-oriented strategy, today announced that it has made a significant majority investment in Blue Mantis, a premier IT services provider with deep expertise in managed services, cybersecurity and cloud solutions. Abry Partners, which has backed the company since 2020, will continue as a minority investor in the company.
Blue Mantis services mid-market and enterprise clients with a North American focus across multiple vertical markets including business services, healthcare, financial services, manufacturing, and public sector. Headquartered in Portsmouth, New Hampshire, Blue Mantis also has a Global Delivery Center in Bangalore, India and Toronto, Canada with robust delivery capabilities.
Josh Dinneen, Chief Executive Officer of Blue Mantis, said, “Our team is completely aligned with Recognize on key strategic imperatives to unlock value in the next chapter of our growth. Blue Mantis is an acknowledged industry leader with a track record of consistent growth and a well-earned reputation as a trusted advisor to clients requiring guidance in navigating rapid market shifts. With our new partners at Recognize, we look forward to capitalizing on growing demand from clients for our expanding portfolio of managed services, cybersecurity and cloud offerings.”
Mike Grady, Partner at Recognize, commented, “Blue Mantis is a next-gen IT solutions and services provider that is helping customers navigate a highly dynamic technology landscape. We believe we can build on the company’s existing foundation to drive a powerful go-to-market strategy. Combined with several near- and longer-term acquisitions that can add immediate impact, Blue Mantis will be better positioned for strong momentum with existing and new clients.”
“We look forward to working with Josh and his talented management team to further the company’s transformation,” said Will Weimar, Principal at Recognize. “Through our relationship with Abry, we identified Blue Mantis as a strategic investment within our sector focus. We seek to leverage their trusted advisor status with clients as well as focus on M&A to add scale, capabilities and delivery geographies to its operations.”
Rob Nicewicz, Partner at Abry Partners, added, “We have had an outstanding partnership with Josh and the Blue Mantis team since our investment in 2020, and we are excited to continue as investors alongside Recognize. We look forward to the company’s continued success.”
Willkie Farr & Gallagher served as legal counsel to Recognize. Citizens served as financial advisor to Blue Mantis and Kirkland & Ellis served as legal counsel. Crescent Capital provided financing for the transaction.
About Blue Mantis
Blue Mantis is a security-first, IT solutions and services provider with a 30+ year history of successfully helping clients achieve business modernization by applying next-generation technologies, including managed services, cybersecurity and cloud. Headquartered in Portsmouth, New Hampshire, the company provides digital technology services and strategic guidance enabling clients to quickly adapt and grow through automation and innovation. Blue Mantis partners with more than 1,250 leading mid-market and enterprise organizations across a multitude of vertical industries. For more information about Blue Mantis and its services, please visit www.bluemantis.com.
About Recognize
Recognize is an investment platform exclusively focused on the digital services industry. The firm provides operational expertise, industry insights and strategic capital to innovative companies in this sector. To learn more, visit www.recognize.com.