January 24,2022

Tailwind Capital Sells AST Corp. to Recognize Partners

Financial Information ($USD)
  • Not Disclosed
 Transaction Details
  • Tailwind Capital today announced it has completed its sale of AST Corporation to Recognize Partners, a technology services focused investment platform. Financial information was not disclosed.
  • AST, a leading cloud and digital transformation solutions provider, simultaneously announced the deal, categorizing it as a strategic investment by Recognize to enable AST to accelerate investment in innovation, enhance its global delivery footprint and expand its solution offering to clients.
  • Recognize Managing Partner and Co-founder, Charles Phillips, will join AST’s Board of Directors as Chairman alongside fellow Recognize Co-founder David Wasserman and Recognize Partner Mike Grady.
 martinwolf Analysis
  • Major Transformation: AST traditionally succeeded as a professional services company largely focusing on state and local government clientele. In 2015, the company began a transformation of its own by acquiring cloud-based systems integrator Serene to strengthen its ability to deliver Oracle solutions across a wider array of industries. When Tailwind Capital acquired the company, it further accelerated AST’s transition to an Oracle cloud services provider.
  • Proof in the Pudding: The City of Detroit hired AST to implement a fully functional transformation of its financial operations, which was the largest cloud transformation project at the time. With wider capabilities, AST successfully built a high-functioning financial foundation to support the City’s current and future goals.
  • PE-Fueled Growth: In 2017, AST was one of the largest independent Oracle system integrators when martinwolf advised the firm on its strategic investment from Tailwind Capital. With private equity backing, AST’s team has grown more than 2x to over 750 members globally that serve the company’s more than 400 clients.
  • Familiar Face: It’s no coincidence that Recognize Partners is acquiring a leading, trusted services partner to Oracle. AST’s soon-to-be Chairman of the Board and Recognize Co-founder, Charles Phillips, was the president of Oracle from 2003-2010 during which the company closed nearly 70 acquisitions.

 

For more information about this transaction, click here to read the press release from Tailwind Capital.

martinwolf was not the advisor in this transaction

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