Gryphon Investors Announces Majority Investment in 3Cloud
Gryphon Investors, a leading middle-market private equity firm based in San Francisco, announced that it has completed a majority investment in 3Cloud (the “Company”) in partnership with the Company’s management team. 3Cloud is a leading provider of strategic advisory and technical services for the Microsoft Azure cloud platform. CEO Mike Rocco and President Jim Dietrich, who founded 3Cloud in 2016, and other members of 3Cloud’s management team will retain a significant equity ownership in the Company. Financial terms for the transaction were not disclosed.
Recommended AI News: Scality Affirms Commitment To Open Source As Founding Member Of New Linux Foundation
Gary DiOrio, a member of the Gryphon Executive Advisory Board and longtime IT Services executive with experience at Cloud Sherpas, Contino, Accenture, and Capgemini, among other firms, will serve as the Chairman of 3Cloud. Marshall Wells, also a member of the Gryphon Executive Advisory Board and a former Accenture Partner and leader of its Technology Consulting Business, will also serve as an outside Board Director.
Founded in 2016 and headquartered in Downers Grove, Illinois, 3Cloud provides “the ultimate Azure experience” by guiding clients in their journey to adoption and modernization within the Microsoft Azure platform. The Company’s comprehensive offerings help customers optimize business outcomes within Microsoft Azure. Key service offerings include cloud infrastructure establishment, application modernization, data & analytics, DevOps solutions, and cloud managed services.
Recommended AI News: Can AI Serve The World In A Time Of Crisis Like The COVID-19 Pandemic
Alex Earls, Partner and Head of the Business Services Group at Gryphon, said, “3Cloud is a strong match with Gryphon’s track record of supporting the growth of market-leading professional services businesses, and we are excited to partner with Mike Rocco, Jim Dietrich, and their management team to support the Company’s rapid organic growth and add-on acquisition strategy.” Gabe Stephenson, a Principal in Gryphon’s Business Services Group, added: “Gryphon’s investment in 3Cloud is the outgrowth of our focus on Next Generation IT Services over the past year. We are enthusiastic about partnering with 3Cloud, which is favorably positioned in the attractive and fast-growing market of public cloud services and specifically Microsoft Azure.”
Mr. Rocco stated, “Gryphon’s investment in 3Cloud validates the strength of our business and the market opportunity for an Azure-focused company. We are excited to work with the Gryphon team to capitalize on this unique moment in the evolution of the cloud and accelerate our growth.”
Recommended AI News: Alibaba Cloud Partners With Aryaka To Deliver A Global And Fully Managed
Mr. Dietrich stated, “3Cloud chose to partner with Gryphon because of its market vision, financial and human capital resources, and proven track record of helping leading professional services firms scale. Gryphon’s support will be instrumental in helping us capture even more of the Azure market opportunity.”
William Blair served as the lead financial advisor to Gryphon, and Drake Star acted as the exclusive financial advisor to 3Cloud. Kirkland & Ellis acted as the legal advisor to Gryphon, and Epstein Becker Green acted as the legal advisor to 3Cloud.
Recommended AI News: 4 Ways AI Is Changing Go To Market Strategy