The FINANCIAL -- Investment funds managed by Morgan Stanley AIP Private Markets Secondaries Team, an investment team within Morgan Stanley Investment Management, announced today that they have completed an investment in Axispoint Technology Solutions Group (“ATSG” or the “Company”) through a transformational secondary partnership with RunTide Capital (“RunTide” or the “GP”).
According to Morgan Stanley, ATSG is a best in class IT solutions and managed services provider focused on assisting middle market enterprises with the digital transformation of their businesses. ATSG handles the full lifecycle of IT services, from collaborative-solution oriented design work, through implementation, optimization and ongoing management for more than 400 customers. Led by founder Frank Scanga and CEO Anthony D’Ambrosi, the highly experienced management team has guided the company through the successful completion of six acquisitions in recent years. ATSG’s strengthened position was most recently recognized by CRN as a recipient of the 2020 Triple Crown Award, rewarding IT solutions providers for their size, fast growth, and the highest-level of certifications from leading IT vendors.
Nash Waterman, Head of Morgan Stanley AIP Private Markets Secondaries Team, said: “We are excited to partner with RunTide Capital and the talented ATSG team to support a leading IT services company that continues to provide high value-added services to a blue chip customer base. The RunTide team has a strong track record of creating value and building companies in the technology industry, and we look forward to their continued success with ATSG.”
“RunTide has a long-standing relationship with Morgan Stanley Investment Management, and we are delighted to partner with Nash Waterman and his team to continue to aggressively grow the ATSG platform, which has more than tripled in size since our first investment in 2019. With this significant new growth capital, ATSG is well positioned as an important consolidator in the rapidly growing and fractionalized IT services sector.”Rob Manning, Partner of RunTide Capital, stated.