Charlotte, NC (January 22, 2025) – 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.