Private fairness company Wonderful Hill Associates has invested $250 million in Auvik and acquired a majority stake in the cloud-based mostly network management software package company for MSPs and IT departments.

Auvik CEO Marc Morin

This is engineering M&A deal amount 421 that ChannelE2E has covered so significantly in 2021. See all technological know-how M&A bargains for 2021 and 2020 outlined in this article.

Auvik’s all round corporation valuation was not disclosed, but CEO Marc Morin verified to ChannelE2E that the investment decision signifies a greater part stake in the application business.

Auvik, founded by Morin, Alex Hoff, and David Yach, develops cloud-centric software package that enables MSPs and IT professionals to manage 3rd-get together networking components from Cisco Devices, Hewlett Packard Organization (HPE) and several other providers.

Auvik originally positioned its software for MSPs, but the enterprise has expanded its base to all types of IT teams — which include corporate IT departments. The firm earlier raised $15.6 million in Series C funding in Might 2018.

Auvik Gets Personal Equity Expenditure: Executive Perspectives

In a organized statement about the Terrific Hill financial investment, Auvik’s Morin said:

“Network management must be easier. That has been Auvik’s rallying cry considering the fact that 2011 when we set out on a quest to give IT experts, and the organizations they assist, some thing improved – one thing speedier and much easier. By partnering with Good Hill Partners, a development investor with deep area experience and skills, and our continuing trader Celtic Household Undertaking Companions, we are confident that we will be equipped to accelerate our effect and convey trustworthy IT answers to IT experts everywhere you go.”

Additional Drew Loucks, a controlling director at Terrific Hill Associates:

“Auvik has a really modern method to ITOps and has created effective program that IT groups not only delight in working with, but is critical to their operations. We have been really amazed with the company’s consumer pleasure rating and name and we think the staff is perfectly positioned to capture a significant portion of the evolving market place relocating forward.”

Great Hill’s Financial investment Expertise

Neither Auvilk nor Terrific Hill exclusively mentioned an MSP lover technique in the investment announcement. But in a adhere to-up e-mail interview about the deal, Morin emphasized Auvik’s continued dedication to MSPs.

Also, Fantastic Hill has experience investing in and all around the MSP engineering sector. The non-public equity firm’s noteworthy investments have provided:

Various advisor corporations ended up involved in the Auvik-Terrific Hill offer. For occasion:

  • AQ Technological know-how Partners served as monetary advisor and Dentons Canada LLP served as authorized counsel to Auvik.
  • Choate, Corridor & Stewart LLP and Blake, Cassels & Graydon LLP served as lawful counsel to Great Hill Companions.

Forward of the coronavirus pandemic, there had been rumors that an MSP software company may perhaps purchase Auvik. But the rumors quieted down when the pandemic began to result in business enterprise lockdowns in North America.