RunTide Capital Announces Morgan Stanley as Anchor Investor in ATSG Co-investment Round

NEW YORK--(BUSINESS WIRE)--Investment funds managed by Morgan Stanley AIP Private Markets Secondaries Team, an investment team within Morgan Stanley Investment Management, announced today that they have completed an investment in Axispoint Technology Solutions Group (“ATSG” or the “Company”) through a transformational secondary partnership with RunTide Capital (“RunTide” or the “GP”).

ATSG is a best in class IT solutions and managed services provider focused on assisting middle market enterprises with the digital transformation of their businesses. ATSG handles the full lifecycle of IT services, from collaborative-solution oriented design work, through implementation, optimization and ongoing management for more than 400 customers. Led by founder Frank Scanga and CEO Anthony D’Ambrosi, the highly experienced management team has guided the company through the successful completion of six acquisitions in recent years. ATSG’s strengthened position was most recently recognized by CRN as a recipient of the 2020 Triple Crown Award, rewarding IT solutions providers for their size, fast growth, and the highest-level of certifications from leading IT vendors.

Nash Waterman, Head of Morgan Stanley AIP Private Markets Secondaries Team, said: “We are excited to partner with RunTide Capital and the talented ATSG team to support a leading IT services company that continues to provide high value-added services to a blue chip customer base. The RunTide team has a strong track record of creating value and building companies in the technology industry, and we look forward to their continued success with ATSG.”

Rob Manning, Partner of RunTide Capital, stated: “RunTide has a long-standing relationship with Morgan Stanley Investment Management, and we are delighted to partner with Nash Waterman and his team to continue to aggressively grow the ATSG platform, which has more than tripled in size since our first investment in 2019. With this significant new growth capital, ATSG is well positioned as an important consolidator in the rapidly growing and fractionalized IT services sector.”

About Morgan Stanley Alternative Investment Partners (AIP) Private Markets Secondaries:

Morgan Stanley AIP Private Markets Secondaries, an investment team within Morgan Stanley Investment Management, seeks to deliver innovative private market solutions to a global client base. As part of a broader team of 50 dedicated private markets focused professionals, the secondaries business draws on decades of investment experience across private markets. With a focus on single asset GP-led transactions in developed buyout and growth markets, the team structures compelling opportunities within less efficient markets and has deployed $3.8 billion to over 200 secondary transactions, including having committed over $1.8 billion to 37 GP-led transactions as of September 30, 2020. For further information about Morgan Stanley AIP Private Markets, please visit www.morganstanley.com/im.

About RunTide Capital:

RunTide Capital is a private equity firm focused on building tech-enabled growth companies. The Founding Partners are seasoned investors with deep operating experience, having started their careers as founders and C-level executives of high growth technology companies. For more information, please visit www.runtidecapital.com.

About ATSG:

ATSG is a global tech-enabled managed services and solutions company focused on innovative solutions to enhance today's digital enterprise and end-user experiences. ATSG provides Intelligent IT through
Technology Solutions as a Service (TSaaS) to a variety of customers; leveraging an offerings portfolio of rediTech, rediManage, rediCloud, and rediSecure, which delivers reliable, elastic, dynamic infrastructure, collaboration, applications, as well as world-class IT operations. ATSG is headquartered in Manhattan, New York and is a portfolio company of RunTide Capital, a private equity firm focused on building tech-enabled growth companies. For more information on ATSG, please visit www.atsg.net.