Sentinel Capital Partners recapitalizes New Era Technology

Rapidly Growing IT Solutions Provider Joins Business Services Portfolio

NEW YORK, September 25, 2019 – Sentinel Capital Partners, a private equity firm that invests in promising companies in the lower midmarket, today announced the recapitalization of New Era Technology, a technology solutions provider serving customers in the United States, the United Kingdom, New Zealand, and Australia. Terms of the deal were not disclosed.

New Era provides a comprehensive suite of managed services and systems integration capabilities for a wide range of IT solutions, including collaboration, data networking, and security. Employing a customer-centric business model, New Era is a trusted technology advisor to more than 6,500 worldwide customers – often name-brand, blue-chip multinational businesses – that span diverse end markets, including healthcare, education, corporate, government and financial services. Founded in 2013, New Era has driven significant organic growth and successfully completed 12 add-on acquisitions.

Sentinel partnered with New Era's management team and incumbent investor, Gemini Investors, to complete the transaction.

"New Era is strategically positioned to capitalize on favorable secular trends underpinning the evolving technology landscape," said Michael Fabian, a Sentinel Partner. "With a talented, highly experienced management team and a deep bench of technical professionals, New Era is well-positioned to continue along its impressive growth trajectory. We are extremely excited about the opportunity to partner with the New Era team."

"As technology systems increase in complexity and the pace of technological change accelerates, organizations require integrated, flexible, and scalable solutions that incorporate a wide range of technologies," said Joe Ewart, New Era's CEO. "Partnering with Sentinel provides us a tremendous opportunity to continue our acquisition strategy, which complements our organic growth. The New Era team is excited to be working with a partner with Sentinel's experience and continue our successful partnership with Gemini."

The past 12 months have been highly active for Sentinel. Besides acquiring New Era, Sentinel made five new platform investments, including Apex Companies, an environmental services firm; Holley Performance Products, a designer, manufacturer and marketer of branded aftermarket automotive performance products; MCA, a communications solutions and services provider; New You Bariatric Group, an administrative support service provider to a network of bariatric surgery offices; and Pet Supplies Plus, a franchisor and operator of pet-specialty stores. Sentinel also completed two exits, including CINgroup, a workflow solutions provider to the consumer bankruptcy market, and The Luminaires Group, a leader in the specification-grade lighting industry.