Bringing ERP application hosting and cloud computing services to the forefront
Founded in 2001, Secure-24, Inc. delivers managed IT operations, ERP application hosting and cloud computing services from state-of-the-art data centers in the United States. The company manages complex IT landscapes and business critical applications for mid-market and Fortune 500 organizations that operate globally. Secure-24 supports customers in growing industry segments, including manufacturing, technology, consumer goods, chemicals, financial services, construction, healthcare, pharmaceuticals and transportation.
Pamlico developed an investment thesis around the hosted application market and partnered with Mike Jennings, an industry veteran, to acquire a platform in the industry. Pamlico and Jennings extensively evaluated the sector and identified Secure-24 as one of the most attractive companies in the application hosting market. Pamlico successfully negotiated a majority recapitalization with Secure-24’s co-founders in August 2012.
Pamlico pursued the acquisition alongside Mike Jennings, who became CEO of the company post-transaction, allowing one co-founder to transition to a board role and the other to focus on Secure-24’s sales effort. In the months following close, the Pamlico team assisted management in hiring a CFO and VP of Sales, worked with management to improve reporting capabilities through the installation of a new ERP system, and coordinated discussions with other Pamlico portfolio companies to establish best practices.
Since the initial transaction in August 2012, the company has expanded its management team, invested in its infrastructure, and improved its financial reporting capabilities, all of which established a strong foundation for future growth. The company was named as one of the top 100 Best Places to Work in IT by Computerworld and to the list of CRN’s 500 Top Solution Providers in the U.S.