Charlottesville, VA, November 2, 2022 – Quad-C Management (“Quad-C”), a leading middle market private equity firm, today announced it has completed the sale of its investment in S.i. Systems (“S.i.” or the “Company”), one of Canada's largest information technology staffing companies, to Cornell Capital and Torquest Partners. Terms of the transaction were not disclosed.
Headquartered in Calgary, with offices in Edmonton, Vancouver, Toronto, Mississauga, Montreal and Ottawa, S.i. Systems leverages its proprietary MatchGuideTM technology to offer its customers a comprehensive suite of solutions for on-demand access to highly skilled IT talent necessary to support their most critical business initiatives. Led by a high quality leadership team with deep industry experience, S.i. Systems has established itself as a leading provider of critical IT talent across industries in Canada and recently entered the high-demand U.S. market through the establishment of new offices in Chicago and Houston.
“It has been a pleasure to work with Derek Bullen and the rest of the S.i. team over the past four years,” said Tim Billings, Partner at Quad-C. “During our investment period the Company delivered double-digit organic growth, opened U.S. greenfield offices in Chicago and Houston, launched a new enterprise sales division and made significant investments in its MatchGuideTM technology platform. We are impressed by what the team was able to accomplish and are proud to have played a role in their success.”
“The S.i. team accomplished a great deal over the course of our partnership,” added Jack Walker, Partner at Quad-C. “In addition to successfully executing on our organic growth plan, S.i. completed five strategic acquisitions during our investment period which added new service capabilities and extended the Company’s geographic reach. All of us at Quad-C look forward to watching the Company’s ongoing success in the future.”
“We had a wonderful partnership with Quad-C over the past four years,” said Derek Bullen, CEO of S.i. Systems. “Their deep experience in our industry and collaborative approach to corporate development were instrumental in S.i.’s success. We have sincerely valued their guidance and thank them for their support in building S.i. Systems into the company it is today.”
Baird served as exclusive financial advisor to Quad-C and S.i. Systems in connection with the transaction.
Founded in 1989 and headquartered in Charlottesville, Va., Quad-C is a middle market private equity firm focused on investing in established business and consumer services, healthcare, industrials, specialty distribution, food & beverage and consumer products, and transportation/logistics companies. In its three-decade history, Quad-C has invested more than $4 billion of capital in 80 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. Learn more about Quad-C at www.quadcmanagement.com.
Founded in 1994, S.i. Systems is one of Canada's largest IT staffing companies. S.i. Systems has a 99.45% success rate in matching candidates successfully to contract and permanent assignments. S.i. Systems is the only company providing a 30-day no-questions-asked money back guarantee on all new placements. Learn more about S.i. Systems at www.sisystems.com.