PE Fund Investments
Recognize picks up majority stake in IT services provider Blue Mantis
Recognize, a private equity firm focused on investing in technology services businesses, has acquired a majority stake in Blue Mantis , a Portsmouth (USA)- and Bengaluru-based IT services provider focused on managed services, cybersecurity and cloud services.Blue Mantis services mid-market and enterprise clients with a North American focus across multiple vertical markets including business services, healthcare, financial services, manufacturing and public sector. It has global delivery centres in Bengaluru and Toronto, Canada. Abry Partners, which has backed the company since 2020, will continue as a minority investor in the company.Willkie Farr & Gallagher served as legal counsel to Recognize. Citizens served as financial advisor to Blue Mantis and Kirkland & Ellis served as legal counsel. Crescent Capital provided financing for the transaction.
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