EVOLUTE CAPITAL, ALONG WITH HUNT TECHNOLOGY VENTURES, MAKE STRATEGIC AND SUBSTANTIAL INVESTMENT IN EGROUP

[Charleston, SC – October 13, 2021] eGroup is excited to announce that they have received a substantial investment from Evolute Capital, a Dallas, Texas-based middle-market private equity investment firm focused on building a best-in-class IT Services platform. Evolute made the investment in partnership with Hunt Technology Ventures, LP, the technology investment management arm of a large Dallas, Texas-based independent family focused on transforming the technology services sector through targeted investments in highly desirable IT services companies. eGroup, a services-led cloud and managed services firm headquartered in the Southeast United States, delivers “speed and certainty” with digital transformation initiatives for mid-market and enterprise clients across the nation. Founder and CEO Mike Carter will continue to lead eGroup.

A globally recognized cloud services provider, eGroup has seven Microsoft Gold competencies including Gold Cloud Platform (Microsoft Azure), Gold Cloud Productivity (Microsoft 365), and is an “Elite” Microsoft Security and Management Partner with an Advanced Specialization in Azure Virtual Desktops. Since 1999, eGroup has completed thousands of data center modernization and cloud migration engagements and is sought for its IT Managed Services based on deep market expertise and a proven ability to execute. eGroup is one of the few companies to make the Inc. 5000 list of the fastest-growing private companies in America for multiple back-to-back years and is the only IT management company in South Carolina to ever be recognized on Inc.’s “Best Places to Work” list. eGroup has appeared on the Managed Services Provider 500, Solution Provider 500, and Tech Elite 250 list every year for the past decade, and was most recently awarded the Nutanix 2021 Global Portfolio Champion of the Year award – which recognizes eGroup for enabling one of the most comprehensive and digitally transformative hybrid cloud journeys for customers.

Evolute Capital and Hunt Technology Ventures sought the partnership opportunity with eGroup based on the depth, knowledge, and impressive track record of eGroup’s management team, coupled with eGroup’s desire to bring on a financial and strategic partner. The investment from Evolute Capital provides eGroup with substantial resources to accelerate its strong industry position in the cloud and managed services sector, which includes the acquisition of other digitally transformative solution and services providers throughout the nation, while organically building upon its strong expertise and positioning within the Microsoft ecosystem. The investment further provides eGroup with the resources to acquisitively expand its cloud services and geographic presence across the nation. Specifically, eGroup plans to expand its sales, marketing, and service delivery teams while acquiring new capabilities that enhance the digital transformation journey for clients.

Mike Carter, Founder and CEO of eGroup, noted, “At eGroup we love working with smart people who know how to get things done. It’s energizing to work with a team that has intentionally and successfully grown companies while fostering a culture that puts the customer first, rewards team performance, and encourages and recognizes individual success. As we turn our attention to expanding the world-class capabilities that keep our clients at the center of the outcomes we deliver, I’m thrilled to work alongside new team members who appreciate what it means to be ‘part of the family’ while creating growth opportunities for customers and team members.”

Brendan Achariyakosol, Founder & Managing Member of Evolute Capital, commented, “eGroup is a true market leader in complex cloud transformation, managed services, and data center services, and has built a tremendous reputation of supporting their customers in whichever stage of IT modernization they are going through. Furthermore, we feel eGroup’s most impressive achievement is the tremendous team they have built and we are proud to be their partner and to support them through the next phase of their journey.”

Hunt Allred of Hunt Technology Ventures, noted, “Prioritizing the client and work quality, Mike Carter and eGroup define every quality that we look for in a business partner. We look forward to helping them grow their capabilities and product offerings to better serve their clients globally.”

CFA Investment Banking, a national investment banking firm, represented eGroup in this transaction.

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