Pete Stevenson and Randal Thompson to Focus on Cloud Infrastructure Software, Security and Related Business Services Investments
Great Hill Partners, a leading growth-oriented private equity firm, announced that Pete Stevenson and Randal Thompson have joined as Executives-in-Residence (“EIRs”) to focus on building a scale company by identifying and pursuing opportunities in the cloud infrastructure software, security and related business services sectors. This will be Great Hill’s third partnership with Stevenson and Thompson who were CEO and CSO, respectively, at Latisys, which was sold to Zayo Group Holdings, Inc. in 2015, and Symmetry, which was sold to Secure-24, an NTT Communications Corporation, in 2019.
“We’re thrilled to partner with Pete and Randal for the third time as we continue to pursue investments in the cloud infrastructure software, security and business service sectors,” said Drew Loucks, Partner at Great Hill Partners. “Pete and Randal have world-class management talent with a proven track record of driving significant growth and creating strategic value in our companies.”
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Chris Gaffney, Managing Partner at Great Hill Partners, added, “Pete and Randal have been outstanding long-term partners and have created tremendous value for the firm. We thank them for their past successes and we are delighted they have chosen Great Hill to back them going forward.”
Stevenson has over 35 years of experience in the global IT and telecom field, and he spent the last 17 years as a CEO leading data center, cloud infrastructure and application management companies. In 2007, together with Great Hill, he co-founded and served as CEO of Latisys, a leading provider of co-collocation, cloud and security services. Stevenson and Great Hill expanded the company’s market presence through acquisitions, increased its data center footprint through organic expansion and implemented an invaluable go-to-market framework that triggered significant organic growth. Stevenson also worked with Great Hill as CEO of portfolio company Symmetry, where he guided the company to become the leading SAP-managed services and software provider in the U.S. prior to its sale.
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Thompson, a 20-year IT and managed services industry veteran, worked alongside Stevenson as Chief Sales Officer at both Latisys and Symmetry where he developed executable go-to-market strategies, and built and led teams that drove high revenue growth. He has deep knowledge of competitive environments and he possesses a keen understanding of clients’ needs, resulting in tailored solutions which support strong, collaborative partnerships.
“We’ve been extremely fortunate to work with Great Hill over the last 13+ years and have experienced first-hand their ability to help companies scale their businesses while creating unique assets that have real intrinsic value to strategic acquirers,” said Stevenson. “We’re excited to be partnering with Great Hill again, and to leverage our expertise and network of relationships to source opportunistic investments and drive growth once acquired,” added Thompson.
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