Dear Clients, Partners, and Friends,

	Marty Wolf

Over at CRN I’ve run through some of our “greatest hits” — the key developments that led us to today and the transactions we’re most proud of. Though the industry has experienced significant transformation, it continues to be a source of reinvention, innovation, and value creation. I’ve met countless leaders who see the widespread disruption as opportunity, and today our active engagements span both the globe and the IT industry.

I’m excited as I look forward to what’s next. In our first transaction, we sold a company for $2.5 million, paid out over three years. Today, we’re at $5 billion in total transaction value.

But even with our average transaction significantly larger than those when we started, there are a few core qualities that have never changed. Our median transaction size is still firmly in the mid-market, and we always join our clients in long-term, intimate engagements. We work only with people we respect and can learn from, and we will only take an engagement if we know we will beat expectations.

Today is dedicated to you — over the past 20 years and more than 150 transactions, it’s been your hard work that has enabled us to get to this point. Whether you are or have been a client, a friend, or a member of our team, I thank you — and I hope you’ll join us in celebrating.

Here’s to 20 more!