Seaport Capital Completes Acquisition of CyberlinkASP
August 3, 2023
Seaport Capital (“Seaport”), a New York-based private equity firm, has acquired CyberlinkASP (“Cyberlink”) from Staple Street Capital (“Staple Street Capital” or “SSC”), a leading middle-market private equity firm. Cyberlink is a managed service provider (“MSP”) offering fully-outsourced IT management services to SMB and enterprise customers. Seaport Capital funded the investment through Seaport Capital Partners VI, a $240 million private equity fund. Cyberlink will be Seaport’s sixth investment in the fund.
Founded in 1999 and headquartered in Dallas, Texas, Cyberlink offers a full suite of IT management services, including Desktop-as-a-Service (“DaaS”), application hosting, network management, disaster recovery, and cybersecurity. The Company’s virtual DaaS platform supports an integrated, secure, and compliant remote IT environment suitable for enterprises across end markets, including regulated verticals such as healthcare, legal, and financial services. Cyberlink hosts over 100 applications in public and private cloud environments for customers across the U.S. The Company differentiates itself with the flexibility to serve customers across its five, geographically diverse data centers supported by 24x7x365 customer support.
Chris Lantrip, CEO and co-Founder of Cyberlink, said, “After spending the last few months with the Seaport Capital team, we believe they are the right strategic partner for Cyberlink’s next phase of growth. I’m looking forward to executing key initiatives that will allow our business to continue to grow and scale to its full potential. Seaport’s sector experience in tech-enabled services and its approach to partnership give us confidence and enthusiasm as we enter this next chapter.”
Scott McCormack, Partner at Seaport Capital said, “We’re excited to work with Cyberlink’s experienced management team and grow the business together through multiple avenues. The Company’s consistent focus on customer service has led to long-term customer relationships and strong customer retention. In addition, the Company operates in a highly fragmented market that offers acquisition opportunities, aligning well with Seaport’s investment strategy.”
Seaport Capital Partner Drew Meyers said, “We’re looking forward to partnering with the Cyberlink management team. They bring years of experience to the Company which, combined with Seaport’s 25-year history of investing in the internet infrastructure market, we believe sets our partnership up for long-term success.”
Chris Lantrip commented, “I am grateful to Staple Street Capital for being an invaluable partner. The SSC team has provided instrumental support throughout our partnership, by investing in our management infrastructure, helping us strengthen our business processes, and supporting acquisitions that have diversified and strengthened our platform.”
The partners at Staple Street Capital added, “Cyberlink has demonstrated their ability to serve as a trusted provider of DaaS and MSP services. We are pleased with the work we have done to help the Company strengthen their leadership position and build a strong foundation for continued success.”
The Bank Street Group LLC served as the exclusive financial advisor to Cyberlink in the transaction.
Headquartered in Dallas, Texas, CyberlinkASP is one of the nation’s largest Desktop-as-a-Service (DaaS) and Application Service Providers (ASP), recently named Citrix’s Partner of the Year. Through its purpose-built cloud and support services, Cyberlink enables companies to access any app from anywhere on any device, securely and cost effectively. For more information, please visit www.cyberlinkasp.com.
About Seaport Capital
Founded in 1997, Seaport Capital is a lower middle-market buyout firm that invests in communication infrastructure and services, business and information services, and media companies (the “Focus Sectors”). Seaport typically invests $10 to $40 million of equity capital in companies generating EBITDA between $3 and $15 million. Seaport is currently investing through Seaport Capital Partners VI, a 2020 vintage fund. Seaport’s substantial industry expertise and investing experience enable it to develop successful strategies in partnership with management teams; its relationships and professionals help achieve them. Nearly all of Seaport’s platform investments have been owned by founders or entrepreneurs seeking a collaborative institutional partner to provide the financial and operational resources to grow their businesses and execute a successful strategic plan. For more information, visit https://www.seaportcapital.com.
About Staple Street Capital
Staple Street Capital, a leading private equity firm with approximately $900 million of capital under management, invests in market‐leading businesses where there are transformational opportunities for value creation. SSC helps companies capitalize on strategically important opportunities to build stronger and more valuable companies. Staple Street Capital typically seeks to invest $25 million – $125+ million of equity per transaction. For more information, please visit www.staplestreetcapital.com.