decor decor
"Business is the salt of life."

-Voltaire

Volt Information Sciences Completes Sale of Maintech

Financial Information
  • Enterprise Value                          $18.3 million
Transaction Facts
  • International staffing and technology outsourcing services provider Volt Information Sciences (NYSE: VISI) announced today that it completed the sale of its IT infrastructure support business Maintech, Incorporated.
  • The business is being acquired by Maintech Holdings, LLC, a newly formed holding company that is an affiliate of Oak Lane Partners, LLC.
  • According to the press release, the purchase price for the transaction was $18.3 million. Because of a $100,000 holdback, outstanding debt deductions and other expenses and adjustments, cash proceeds at closing will be $13.9 million
Business Services Segment Continues to Draw Interest
  • Private Equity An Increasingly Familiar Face: Private equity involvement with solution and service providers continues to increase, and this transaction is a great example of how transactions bring benefits to both sides. Volt is able to better focus its offerings and strengthen its balance sheet, while Maintech benefits from a strong, experienced management team and dedicated support.
  • Services in the Spotlight: As seen in several precedent transactions including the merger of SMS and Curvature and the acquisition of Park Place Technologies in Fall 2015, business services organizations continue to be attractive targets – particularly as aging IT equipment creates increased demand.
  • Not Disclosed: While the press release listed the purchase price, it did not indicate any transaction multiples. Based on our experience, companies in this sector often trade at multiples of revenue greater than 2x, thanks to their high EBITDA. However, we believe that the revenue for Maintech is larger than this multiple would imply.
For more information about this transaction, click here to read the press release.
martinwolf was not the advisor in this transaction.
previous post Back to Articles next post

31 Jan 2023

Rising Interest Rates Chill Private Equity Pace

After a year of strength on the private equity front, 2022 is now in the rearview mirror and industry professionals anticipate a downgrade in performance for the coming year.   Despite the fluctuations of the past few years, private equity has withstood the challenges relatively well. However, in certain areas such as exit activity and...

18 Jan 2023

IT Industry Titan John McKenna Announces Retirement 

Congratulations to John McKenna, CEO of ConvergeOne, who announced his retirement today after 14 years at the helm. John has been an integral part of the IT industry for more than 30 years, and his leadership, dedication, and hard work have set the gold standard as a titan in our industry.   John’s tenure at...

21 Dec 2022

Happy Holidays – The 2022 martinwolf Annual Letter

View a pdf of this letter here.    Dear Clients, Partners, and Friends, It’s hard to believe we are closing the books on our 25th year in business. Looking back at our extraordinary colleagues past and present, hundreds of clients, and a global network of buyers and friends, I want to start this year’s letter...