VERNON HILLS, Ill., May 4, 2015 /PRNewswire/ -- Sayers, a leading IT solutions company in the data center infrastructure, enterprise security, and networking sectors, today announced that it closed on a recapitalization transaction led by Virgo Capital.
"We see significant value in how Sayers brings its vast subject matter expertise to develop and implement the best IT solutions for their customers across numerous verticals." said Hemanth Parasuram, Managing Partner, Virgo Capital and new Chairman of Sayers. "Further, Sayers is an essential player in the IT value chain for leading providers such as HP, Check Point, Palo Alto Networks, Citrix, VMWare, Bluecoat, Hitachi Data Systems, and many others. We are very excited to work with the management team to help Sayers reach its full potential."
Sayers also announced that Chris Callahan would be named Chief Executive Officer, after serving as President of Sayers and Vice President of Sales for the previous nine years. Gale Sayers, Sayers' founder, has been named Chairman Emeritus.
Chris Callahan, CEO of Sayers, commented, "We are all energized to have this transaction completed. We believe this is the right direction for Sayers' long-term strategy and will better serve our customers, employees, and partners. I look forward to working with Virgo Capital as Sayers enters its next chapter of growth and leadership."
Sayers, founded in 1984, is a leading provider of data center infrastructure and enterprise security products and other IT solutions to over 250 large and middle market enterprises in various sectors, including financial services, insurance, healthcare, manufacturing, and utilities. Sayers' top-tier partner relationships include HP, Citrix, VMware, Hitachi, Checkpoint, and Palo Alto Networks. Sayers' trademark is Built Around You, which captures its philosophy of helping its customers determine the best solutions for their own unique needs and requirements. Learn more about Sayers at www.sayers.com.
About Virgo Capital
Virgo Capital is a private equity firm focused on making investments in established software and technology-enabled services companies. Virgo Capital targets companies with revenue of $10 to 100 million, strong customer relationships, and domain expertise and actively adds value by leveraging the team's extensive experience in areas such as operations, finance, technology, sales and marketing, and mergers and acquisitions. Virgo Capital manages total capital commitments of $70 million. Virgo's Limited Partners are institutions, family offices, and individuals who are all seasoned private equity investors. Many of the LPs are highly-respected leaders in industries such as banking, insurance, energy, health care, and information technology. Virgo Capital is a NMSDC certified minority-owned business enterprise (MBE). For more information, please visit www.virgocapital.com.
Sayers, the Sayers logo and Built Around You are trademarks or registered trademarks of Sayers Technology, LLC in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
CONTACT: Arun Prakash, (512) 524-6582, arun [at] virgocapital [dot] com