Wind Point Partners, a Chicago-based private equity firm, has acquired communications solutions provider Corbett Technology Solutions Inc. (CTSI), which celebrated its 50th year in business in 2019.
Wind Point will be partnering with CTSI management, led by CEO Gino Ruta, and executive advisors George Pierson and Bob Chauvin. Ruta has led the company through several years of consistent organic growth and successfully integrated two strategic acquisitions.
"We are extremely pleased to be partnering with Wind Point due to their long history of scaling businesses and accelerating growth," said Ruta. "Since CTSI's founding, we have successfully grown our service capabilities, including enhanced managed and subscription services, while extending geographic reach by prioritizing the needs of our customers, partners, and employees. Our focus remains the same, and, with Wind Point's support, we will further expand our capabilities to better serve those constituencies and reach new markets."
"We are very excited for the opportunity to partner with the high-quality professionals at CTSI," added Nathan Brown, managing director at Wind Point. "Gino and the talented people at CTSI have built a market leader that is positioned for further expansion. CTSI is a fundamentally strong business, including double-digit growth rates and resilient performance through the great recession and the current pandemic."
Ruta and the management team will remain with the business and retain a meaningful ownership stake in the company alongside Wind Point. Pierson and Chauvin will serve on CTSI's board, leveraging their industry experience to help Wind Point and management drive the company's value creation plan.
