Rackspace’s Acquisition of TriCore Solutions


Ropes & Gray represented middle-market private equity firm BV Investment Partners in its agreement to sell application and infrastructure services provider TriCore Solutions to Rackspace, a leading managed cloud services provider.

TriCore Solutions, LLC provides enterprise managed solutions for healthcare, financial services, manufacturing, life science, and retail industries worldwide. The company offers managed application and infrastructure, cloud, infrastructure hosting, consulting, and information technology staffing services. The company, led by Mark Clayman, Robert W. Forman, Sean E. Harmon, Arthur L. Green and Gina Murphy is based in Norwell.BV originally invested in TriCore in 2014 in partnership with its existing management team. The transaction, which was announced May 25, is expected to close in June. Additional details were not disclosed.

Since its founding in 1983, BV has invested over $2.9 billion in 89 companies, actively targeting investments in the business services and information technology services industries.

The Ropes & Gray team was led by private equity partner Todd Boes (Picture) (San Francisco) and included tax partner Amanda Holt (Boston) and private equity associate Eric Issadore (San Francisco).

Involved fees earner: Todd Boes – Ropes & Gray; Eric Issadore – Ropes & Gray; Amanda Holt – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: BV Investment Partners;

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Author: Ambrogio Visconti