Soaring Pine Capital Growth Fund I has purchased Technology Solutions, Inc., the company said.
In partnership with two cable/wireless industry veterans, Jerry McCoy and William (Bill) Fenton, Soaring Pine will provide support to the management team and leverage its resources to oversee the growth and expansion of Technology Solutions throughout the US. Technology Solutions will roll up to a holding company called Tikoo Solutions LLC owned by Soaring Pine Capital Growth Fund I, the management team and John Urso, Technology Solution´s founder.
Soaring Pine funded the transaction through a combination of equity, mezzanine, and senior debt (along with equity from management and seller rollover equity) to provide a foundation for growth. Jerry McCoy will serve as CEO of the newly-formed entity and Bill Fenton will serve as COO.
Soaring Pine Capital is a Simon Group Holding company that is based in Birmingham, Michigan and is focused on investment opportunities in Midwest lower middle-market companies. Soaring Pine leverages the resources of Soaring Pine Capital Series of funds, a series of committed private equity and real estate funds whose capital comes from a network of entrepreneurial families.