FirePower in the News: FirePower Equity, a division of FirePower Capital, has acquired Interwork Technologies
FirePower Equity, a division of FirePower Capital, has acquired specialty cyber security distributor Interwork Technologies Inc. The announcement by Interwork can be found here:
Interwork Acquired by Private Equity firm FirePower Equity
Toronto, Ontario – April 27, 2018 – Interwork Technologies Inc. today announced that it was acquired by private equity firm FirePower Equity Inc. Financial terms were not disclosed. As a specialty cyber security distributor serving a broad network of Solution Providers in the U.S. and Canada for over 25 years, Interwork’s award-winning service model was a great fit for a private equity partner.
“We are excited to have access to FirePower Equity’s depth of financial expertise and executive talent to steer the company through its next growth phase,” says Joe Graci, President & GM, Interwork. “Preserving the specialty distributor experience and investing in channel partner enablement were key factors in our decision.”
FirePower Equity, a division of FirePower Capital, is a Toronto-based Private Equity firm focused on the midmarket space.
Anthony Lipschitz, Partner at FirePower Equity, said, “Interwork is a compelling platform given its clear and quantifiable value proposition to both Vendors and Solution Providers, underpinned by a scalable service model and distinguished by a strong leadership team. We look forward to partnering with and supporting Joe Graci and the broader Interwork team to capitalize on the Company’s significant growth opportunities to build the premier cyber security distribution platform and continue to provide best-in-class service for its customers.”
In a competitive industry that is constantly evolving, Interwork has proven its ability to navigate and prosper with its dynamic and agile approach to partner enablement. Year over year the company has seen growth amid a constantly changing competitive landscape. The dedicated team of professionals and longstanding vendor partnerships have helped spur this growth and created lasting, mutually beneficial business relationships. As a specialty cyber security distributor, Interwork delivers value through a high touch service model and deep domain expertise in cyber security.
Interwork will continue to operate in two locations, Toronto, Ontario and Buffalo, New York, with Anthony Lipschitz serving as Interwork’s Chairman. With the ever-changing competitive landscape and rapidly evolving cyber security threat environment, Interwork’s new ownership structure will enable the company to address underserved areas in the channel. Interwork will continue to strive to deliver exceptional service, value and expertise that partners have come to expect.
FirePower Capital is the investment banking and private capital firm built for Canada’s entrepreneurs. Our team of 30+ professionals helps mid-market businesses complete mission-critical transactions, by advising them or investing in their companies directly. www.firepowercapital.com
Interwork Technologies is a North American value-added specialty distributor of Cyber Security & Service Provider solutions. Established in 1991, it has more than 25 years of channel and distribution experience with sales resources in both Canada and the U.S. For its vendor partners, Interwork leverages its extensive network of Solution Provider partners to drive partner recruitment, enablement, and lead generation opportunities in the mid-market to enterprise segments. For thousands of its Solution Provider customers, Interwork has the technology expertise and support required to both educate and enable their selling efforts. www.interwork.com
FirePower was engaged to prepare PrintFleet for a a sale, and guide the company through to closing. Weeks before closing, the buyer with whom PrintFleet signed an LOI following a competitive auction, a Japanese Fortune 500 company, terminated the deal because of an internal reorganization. FirePower re-ignited conversations with a US strategic who had done well in the auction, and closed without any major challenges at an attractive price, terms and conditions.