NEWPORT BEACH, Calif., May 24, 2017 /PRNewswire/ -- Solis Capital Partners (Solis), a lower middle-market private equity firm, today announced the sale of Resolve Systems® (Resolve) the only enterprise-wide incident response and automation platform for security, IT and network operations, to an affiliate of Insight Venture Partners (Insight). Terms of the transaction were not disclosed.
Resolve Systems was founded in 2000 as primarily an IT services provider and value added reseller of IT operations and network management software. In March 2012, Solis partnered with the co-founder to accelerate the development and commercialization of the Company's emerging IT process automation (ITPA) software platform called Resolve. Since then, Resolve evolved significantly from its ITPA origins into the leading incident response and resolution software platform supporting the network, IT and security operations environments of leading Fortune 500 enterprises throughout the world. Utilizing "intelligent incident response" which includes a combination of runbook automations and human guidance, Resolve drives significant ROI by reducing mean time to incident resolution, reducing costs associated with incident escalation, and increasing staff productivity.
"We are very pleased with the successful sale of Resolve to Insight," said Craig Dupper, Managing Partner of Solis. "In this partnering, we had the opportunity to support Resolve's exciting transformation into a leading incident response software provider. Key elements driving this transformation included product development, resource optimization, rebranding, and leadership team building. We are grateful for the hard work and dedication of the Resolve team, and we are excited for their opportunity to take Resolve to the next level with Insight as a partner."
"Solis provided critical resources and was a tremendous support in accelerating our growth and evolution," said Martin Savitt, Chief Executive Officer of Resolve Systems. "Our time with Solis allowed us to develop a scalable platform with great potential. Insight brings a unique level of knowledge and capability, and we are looking forward to working with them to execute Resolve's next phase of growth."
HCAP Partners, a San Diego-based provider of mezzanine debt and equity to the lower-middle market, provided additional growth capital to Resolve.
Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., acted as the exclusive financial advisor to Resolve Systems in connection with the sale transaction.
Solis Capital Partners is a private equity firm specializing in the lower middle-market. Headquartered in Newport Beach, CA, and with offices in San Diego, CA, Solis focuses on companies with revenues of $15 to $100 million, typically in the service, niche manufacturing, and software sectors. The firm is actively investing through Solis Capital Partners II, LP. For additional information, see www.soliscapital.com.
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SOURCE Solis Capital Partners