M&A Deal Summary

CenterGate Capital Acquires CTI

On October 18, 2023, private equity firm CenterGate Capital acquired technology hardware company CTI from TPE Boulder and Broadtree Partners

Acquisition Highlights
  • This is CenterGate Capital’s 1st transaction in the Technology Hardware sector.
  • This is CenterGate Capital’s 13th transaction in the United States.
  • This is CenterGate Capital’s 1st transaction in Maryland.

M&A Deal Summary

Date 2023-10-18
Target CTI
Sector Technology Hardware
Buyer(s) CenterGate Capital
Sellers(s) TPE Boulder
Broadtree Partners
Deal Type Secondary Buyout
Advisor(s) Holland & Knight (Legal)

Target

CTI

Rockville, Maryland, United States
CTI is a provider of Managed Print Services to federal agencies. CTI specializes in managing and servicing copiers, multi-function devices (MFD), laser printers, and fax machines. CTI was founded in 1990 and is based in Rockville, Maryland.

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Buyer(S) 1

Buyer
DESCRIPTION

CenterGate Capital is a private equity firm focused on improving and growing lower middle market companies. The Firm looks to partner with companies generating $20 to $250 million in revenues. Sectors of interest include business services, industrials, energy services, consumer, and healthcare services. Prospective transaction situations include buyouts, divestitures, recapitalizations, shareholder liquidity needs, and restructurings. CenterGate Capital was founded in 2014 and is based in Austin, Texas.


DEAL STATS #
Overall 14 of 17
Sector: Technology Hardware M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 5
State: Maryland M&A 1 of 1
Country: United States M&A 13 of 15
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Poseidon Barge

Berne, Indiana, United States

Poseidon Barge is a provider of sectional barges and related equipment for marine infrastructure construction. Poseidon Barge designs, manufactures, sells, and rents a wide range of Poseidon-branded sectional barges and accessories. Poseidon Barge was founded in 1986 and is based in Berne, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Zyloware

Port Chester, New York, United States

Zyloware serves as a full-service partner with expertise across the supply chain, including product design and marketing, quality assurance, inventory management, distribution, and service. Zyloware is based in Port Chester, New York.

Buy -

Seller(S) 2

SELLER

TPE Boulder

Braintree, Massachusetts, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TPE Boulder is a private equity firm focused on small buyout and growth equity investments in profitable healthcare and software companies. TPE will consider minority or control positions and targets companies with $5 to $40 million in revenue and at least $2 million of EBITDA. Specific areas of interest include healthcare services, healthcare IT, healthcare payment management systems, enterprise software, SaaS, and Internet B2B companies. TPE Boulder was formed in 1997 and has offices in Braintree, Massachusetts, and Boulder, Colorado.


DEAL STATS #
Overall 25 of 25
Sector: Technology Hardware M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
State: Maryland M&A 2 of 2
Country: United States M&A 25 of 25
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-06 West Sweeping Services

United States

West Sweeping Services is a holding company created to acquire power sweeping companies that perform street, highway, construction, parking lot, and industrial power sweeping to private and government entities. West Sweeping Services is based in United States.

Sell -
DESCRIPTION

Broadtree Partners is a private equity firm focused on acquiring and investing in lower middle-market, US-based companies in partnership with management. The Firm does not have any stated sector preferences and seeks businesses with $5 to $75 million of revenue and $1 to $10 million of EBITDA. Broadtree Partners was formed in 2017 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 6 of 7
Sector: Technology Hardware M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Maryland M&A 1 of 1
Country: United States M&A 6 of 7
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 CanSource

Longmont, Colorado, United States

CanSource is a supplier of shrink-sleeved cans to craft beverage businesses across the beer, wine, spirits, energy drinks, coffee, kombucha and CBD industries. CanSource was founded in 2011 and is based in Longmont, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-09 ListEngage

Framingham, Massachusetts, United States

ListEngage is a salesforce integrator and implementation consultant. ListEngage is based in Framingham, Massachusetts.

Sell -