Jacmel Growth Partners, a private investment firm focused on midsize companies, has invested in Virtual Technologies Group, an information technology, security and cloud services firm providing services for small-to-medium-sized companies, and Comm-Core, a division of VTG focused on providing cloud-based services for security, surveillance and telecommunications.
VTG is an IT services provider focused on cybersecurity, infrastructure management, voice over internet protocol communications and other areas of information technology. Jacmel’s investment aims to support VTG’s growth and expand the company’s service capabilities.
“It’s clear they have a true understanding of our company as cloud and managed IT solutions providers and what we need to build on our previous success,” comments Tom Allen, president of VTG. “We look forward to benefiting from the Jacmel team’s expertise in helping companies achieve accelerated growth through additional capital, operational insights, a broader network ofrelationships, and human capital initiatives.”
Jacmel received financing from KeyBank to complete the partnership arrangement with VTG. Woodbridge International served as a sell-side advisor to VTG. Morrison Foerster served as legal counsel for Jacmel and Wiggin and Dana LLP represented VTG on the transaction.