{"id":4725,"date":"2024-06-21T13:39:17","date_gmt":"2024-06-21T06:39:17","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=4725"},"modified":"2024-06-21T13:39:17","modified_gmt":"2024-06-21T06:39:17","slug":"virtual-it-group-signs-definitive-agreement-to-secure-investment-from-the-riverside-company-to-accelerate-growth","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=4725","title":{"rendered":"Virtual IT Group signs definitive agreement to secure investment from The Riverside Company to accelerate growth"},"content":{"rendered":"

SYDNEY<\/span><\/span>, June 21, 2024<\/span><\/span> \/PRNewswire\/ — Leading Australian IT Managed Service Provider, <\/span>Virtual IT Group<\/span><\/a> (VITG), has signed a definitive agreement to secure investment from global mid-market private equity firm <\/span>The Riverside Company<\/span><\/a> (Riverside) to bolster the platform and accelerate growth both organically and via M&A.<\/span><\/p>\n

\n

<\/a>
Christian Pacheco, Founder and Managing Director at VITG<\/span><\/p>\n<\/div>\n

VITG provides comprehensive outsourced IT services including cloud, communications, business continuity, and cyber security to over 1,200 mostly mid- and increasingly large-size clients across Australia<\/span> and globally.<\/p>\n

Founded in 2015 by Christian Pacheco<\/span><\/a>, it employs over 200 local staff and has a strong heritage in innovation and automation, partnering with the likes of Microsoft, Sophos, WatchGuard, and Kaseya.<\/p>\n

VITG has expanded rapidly along Australia’s<\/span> east coast including most recently into Victoria<\/span>, targeting Australia’s<\/span> 18,000+<\/a> middle market companies that contribute nearly one quarter of the country’s total income.<\/p>\n

The $167 billion<\/span> digital technology sector information is growing fast, expanding by 80 percent in just 5 years according to the Australian Trade & Investment Commission<\/a>.<\/p>\n

The spend on IT services in Australia<\/span> is also currently estimated<\/a> at $45 billion<\/span> annually, growing at high-single digit rates as organisations invest heavily in critical areas such as security and cloud.<\/p>\n

Riverside’s VITG investment alongside Christian Pacheco<\/span> and the VITG team is another example of Riverside’s dedication<\/a> to its\u00a0Software, IT, and Business Services industry specialisation in Australia<\/span> and New Zealand<\/span>.<\/p>\n

Through its global network, Riverside has invested in over 540 platforms and add-ons in these industries to date, including Energy Exemplar<\/a>, a leading global provider of simulation software for energy markets and EventsAIR<\/a>, a global events management software provider.<\/p>\n

Christian Pacheco<\/span> will continue as Managing Director of VITG, and will remain a significant shareholder, working with the VITG team to leverage Riverside’s support.<\/p>\n

Christian Pacheco<\/span>, Founder and Managing Director at VITG, said: “The VITG team is thrilled to be partnering with Riverside’s global team of specialists to take our business to the next level. We are pleased to find a like-minded partner who embraces our culture of collaboration and fostering lasting relationships, particularly in the M&A context where VITG has built a strong reputation in acquiring founder-led businesses. As a leading player in a consolidating IT services space, we are excited about what we can achieve together going forward \u2013 we are just getting started!”<\/p>\n

Nicholas Pejnovic<\/span>, Principal at Riverside, said: “Investing in high quality technology-oriented B2B businesses like VITG has been a priority for Riverside over many years. We bring access to a global network of experts to support the growth of these companies, which is one unique factor that Riverside offers its portfolio companies. We’re excited about Riverside’s investment in VITG and looking forward to partnering with such a high-calibre and ambitious management team.”<\/p>\n

Kevin Xu<\/span>, Principal at Riverside, said:\u00a0“This partnership will allow VITG to increase focus on organic growth and continuously enhance the quality service clients are accustomed to, supported by VITG’s significant edge in automation. We will build out specialisations by industry and technical capability, and continue to execute on strategic add-ons.”<\/p>\n

Riverside Principals Nicholas Pejnovic<\/span> and Kevin Xu<\/span> worked together alongside Vice President Jenny Guo<\/span> and Analyst Dominique Ling<\/span> on the deal for Riverside.\u00a0<\/p>\n

Riverside was advised by Ad Astra Corporate Advisory and Herbert Smith Freehills. VITG was advised by Allier Capital and KPMG Law.<\/p>\n

# # #<\/p>\n

Virtual IT Group<\/a> is a leading Australian IT Managed Services provider focussed on simplifying complexity, driving economies of scale and securing IT environments for clients around the country.\u00a0 Since its founding in 2015, VITG has grown to serve over 1,200 clients and over 25,000 workstations nationally across a variety of industries.<\/p>\n

The Riverside Company<\/a> is a global investment firm focused on being one of the leading private capital and credit options for business owners and portfolio companies at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and flexible capital portfolios include more than 140 companies. Riverside Australia<\/span> invests in Australian and New Zealand<\/span>-based companies with last twelve months (LTM) earnings before interest, tax, depreciation, and amortisation (EBITDA) of up to AU$25 million.<\/p>\n

Third Hemisphere<\/a>\u00a0is The Riverside Company’s PR firm in Australia<\/span><\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

SYDNEY<\/span><\/span>, June 21, 2024<\/span><\/span> \/PRNewswire\/ — Leading Australian IT Managed Service Provider, <\/span>Virtual IT Group<\/span><\/a> (VITG), has signed a definitive agreement to secure investment from global mid-market private equity firm <\/span>The Riverside Company<\/span><\/a> (Riverside) to bolster the platform and accelerate growth both organically and via M&A.<\/span><\/p>\n

\n

<\/a>
Christian Pacheco, Founder and Managing Director at VITG<\/span><\/p>\n<\/div>\n

VITG provides comprehensive outsourced IT services including cloud, communications, business continuity, and cyber security to over 1,200 mostly mid- and increasingly large-size clients across Australia<\/span> and globally.<\/p>\n

Founded in 2015 by Christian Pacheco<\/span><\/a>, it employs over 200 local staff and has a strong heritage in innovation and automation, partnering with the likes of Microsoft, Sophos, WatchGuard, and Kaseya.<\/p>\n

VITG has expanded rapidly along Australia’s<\/span> east coast including most recently into Victoria<\/span>, targeting Australia’s<\/span> 18,000+<\/a> middle market companies that contribute nearly one quarter of the country’s total income.<\/p>\n

The $167 billion<\/span> digital technology sector information is growing fast, expanding by 80 percent in just 5 years according to the Australian Trade & Investment Commission<\/a>.<\/p>\n

The spend on IT services in Australia<\/span> is also currently estimated<\/a> at $45 billion<\/span> annually, growing at high-single digit rates as organisations invest heavily in critical areas such as security and cloud.<\/p>\n

Riverside’s VITG investment alongside Christian Pacheco<\/span> and the VITG team is another example of Riverside’s dedication<\/a> to its\u00a0Software, IT, and Business Services industry specialisation in Australia<\/span> and New Zealand<\/span>.<\/p>\n

Through its global network, Riverside has invested in over 540 platforms and add-ons in these industries to date, including Energy Exemplar<\/a>, a leading global provider of simulation software for energy markets and EventsAIR<\/a>, a global events management software provider.<\/p>\n

Christian Pacheco<\/span> will continue as Managing Director of VITG, and will remain a significant shareholder, working with the VITG team to leverage Riverside’s support.<\/p>\n

Christian Pacheco<\/span>, Founder and Managing Director at VITG, said: “The VITG team is thrilled to be partnering with Riverside’s global team of specialists to take our business to the next level. We are pleased to find a like-minded partner who embraces our culture of collaboration and fostering lasting relationships, particularly in the M&A context where VITG has built a strong reputation in acquiring founder-led businesses. As a leading player in a consolidating IT services space, we are excited about what we can achieve together going forward \u2013 we are just getting started!”<\/p>\n

Nicholas Pejnovic<\/span>, Principal at Riverside, said: “Investing in high quality technology-oriented B2B businesses like VITG has been a priority for Riverside over many years. We bring access to a global network of experts to support the growth of these companies, which is one unique factor that Riverside offers its portfolio companies. We’re excited about Riverside’s investment in VITG and looking forward to partnering with such a high-calibre and ambitious management team.”<\/p>\n

Kevin Xu<\/span>, Principal at Riverside, said:\u00a0“This partnership will allow VITG to increase focus on organic growth and continuously enhance the quality service clients are accustomed to, supported by VITG’s significant edge in automation. We will build out specialisations by industry and technical capability, and continue to execute on strategic add-ons.”<\/p>\n

Riverside Principals Nicholas Pejnovic<\/span> and Kevin Xu<\/span> worked together alongside Vice President Jenny Guo<\/span> and Analyst Dominique Ling<\/span> on the deal for Riverside.\u00a0<\/p>\n

Riverside was advised by Ad Astra Corporate Advisory and Herbert Smith Freehills. VITG was advised by Allier Capital and KPMG Law.<\/p>\n

# # #<\/p>\n

Virtual IT Group<\/a> is a leading Australian IT Managed Services provider focussed on simplifying complexity, driving economies of scale and securing IT environments for clients around the country.\u00a0 Since its founding in 2015, VITG has grown to serve over 1,200 clients and over 25,000 workstations nationally across a variety of industries.<\/p>\n

The Riverside Company<\/a> is a global investment firm focused on being one of the leading private capital and credit options for business owners and portfolio companies at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and flexible capital portfolios include more than 140 companies. Riverside Australia<\/span> invests in Australian and New Zealand<\/span>-based companies with last twelve months (LTM) earnings before interest, tax, depreciation, and amortisation (EBITDA) of up to AU$25 million.<\/p>\n

Third Hemisphere<\/a>\u00a0is The Riverside Company’s PR firm in Australia<\/span><\/a><\/p>\n

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