Secure-24, Inc. Attracts Investment from Pamlico Capital
Secure-24, Inc. (“Secure-24”) and Pamlico Capital announced today that a Pamlico Capital-led investment group has made a growth equity investment in Secure-24, Inc. Secure-24, founded in 2001, is an emerging leader in business critical application hosting and cloud services with a focus on ERP applications from SAP® and Oracle®. The co-founders, Volker Straub and Matthias Horch will retain significant ownership of Secure-24 and will continue to manage the growth of the company in partnership with Pamlico Capital. The investment group included HarbourVest Partners. Detailed terms of the transaction have not been disclosed.
Secure-24 also announces that it has recruited industry veteran Michael Jennings to join the Secure-24 management team. Jennings was co-founder and CTO of Appshop, Inc. a leader in Oracle ERP hosting.
“We are extremely happy to partner with Pamlico because of its track record supporting companies and entrepreneurs as a growth capital provider,” said Matthias Horch, Secure-24 CEO. “Secure-24 has seen tremendous demand for IT infrastructure and application outsourcing services and is poised to continue to grow as companies focus on building strategic partnerships to reduce costs and improve the operation of advanced and complex IT systems. The expertise and resources Pamlico brings to our team will be critical assets to accelerate innovation, growth and market leadership.”
Pamlico Partner Scott Stevens said, “We focus on making equity investments in growing and profitable industry-leading technology companies. Secure-24 has demonstrated all the characteristics we look for; an experienced and highly capable management team, a strong competitive position, an industry-leading technology platform, and a superior service delivery model. Secure-24’s focus on helping companies increase business value through their IT investments provides them the opportunity for impressive growth in the years ahead."
Oppenheimer & Co. Inc. acted as Secure-24’s exclusive financial advisor in connection with the transaction.
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Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.