Recent acquisition of DRS completes successful divestiture for JP Capital Management
YOUNGSTOWN, OH — Strategic execution is the key to the successful pursuit of a Vision. JPCM is pleased to announce that it has come to an agreement to divest holding assets in Data Recovery Services LLC (DRS), the premier IT consulting firm in Northeast OH.
This week, Iowa-based Involta, a national leader in cloud, managed IT and data center services, entered into a definitive agreement to acquire substantially all of the assets of DRS. According to DRS’ President and COO Carl Gordulic, the combined operation “positions Involta as a powerhouse in the Ohio market” and gives the company a huge presence in the Cleveland to Pittsburgh corridor with the ability to expand its footprint.
Acquired assets include more than 5,500 fiber miles in Ohio and western Pennsylvania, two Youngstown-based data centers owned and operated by DRS, and numerous other strategic pieces. Through this agreement, Ohio becomes the anchor state in the East region for Involta, and will be home to nearly half of all Involta employees and company revenues.
JPCM Principal James Pastore said, “We’re proud to have played a role in the successful growth that led to this deal, which is a tremendous achievement for DRS. But what makes it even more special, is that DRS will continue (and likely escalate) its leadership in high-quality job creation for the region. DRS’s partnerships with the Youngstown Business Incubator, the Youngstown-Warren Regional Chamber and Youngstown State University will continue, and that’s something we’ve always been very proud of.”
Pastore adds further, “This is a perfect example of the types of companies, and people, that we look to invest in. We will most certainly redirect this capital towards another project. The key is not simply finding another product or service opportunity, but finding another culture like DRS that we can get behind.”
JP Capital Management (JPCM) is a private equity company that specializes in the acquisition and operation of middle market companies in sectors such as manufacturing, real estate, commodity brokerage and more.
JPCM approaches each transaction from a disciplined, pragmatic and economically sound perspective. But where their approach differs from typical private equity, is in their ability to leverage JPCM family of companies to the benefit of each individual business.