Capstone Partners advised VirtualArmour International Inc. (CSE: VAI; OTCQB: VTLR) (VirtualArmour or the Company), on the sale of substantially all of its operating assets, including its name, and certain operating liabilities to Evergreen Services Group (Evergreen).
VirtualArmour is a global managed security services provider (MSSP) founded in 2001 by a team of networking and security industry experts. VirtualArmour specializes in advanced networking and cybersecurity, serving mid-market and enterprise customers across the U.S. and Europe through managed services, professional services and hardware/software resell. The company delivers services through its global Security Operations Centers (SOC) located in Middlesbrough, United Kingdom and the United States.
Russ Armbrust, CEO, VirtualArmour, said
"Capstone’s industry insights, contacts and experience enabled a thorough process including the identification of Evergreen as an ideal strategic partner. The team worked diligently to facilitate all aspects of the transaction including the diligence process and negotiation to achieve an optimal result for our shareholders. This exceptional oversight throughout the entire process allows our vision and culture to remain intact as we go to the next phase of our company’s growth."
Tom McConnell, Managing Director at Capstone, commented
“VirtualArmour brings an extraordinary set of capabilities, customers and opportunity. Russ is an outstanding leader who has built an exceptional team focused on delivering results for customers. With this acquisition, Evergreen can offer expanded services to its broad customer base to achieve greater penetration into the rapidly growing cybersecurity market. Congratulations to all involved.”
David Brinkley, Managing Director at Capstone, added
“It has been a privilege to represent the shareholders, management, and extraordinary employees of VirtualArmour in this transaction. We are excited to see this partnership accelerate the combined companies’ penetration of the rapidly growing market for managed security services.”