FREMONT, Calif.--(BUSINESS WIRE)-- Milestone Technologies Inc. (“Milestone”), a leading global IT Services provider, announced that The Halifax Group (“Halifax”), a middle market private equity firm that partners with management to invest in market-leading companies, completed a control investment in Milestone. In addition, Two Sigma Impact, a private equity firm focused on utilizing data science and technology to drive employee engagement, made a minority investment, and H.I.G. Capital will continue to maintain an equity stake in Milestone.
The new investment will enable Milestone to continue to accelerate and execute on the company’s strategic vision of building an employee-first culture and broadening its suite of services and solutions.
“We are very excited about our new partners and the shared vision we have for the next stage of Milestone’s growth. The investment Halifax and Two Sigma Impact are making will provide us the capital and strategic resources to accelerate Milestone’s growth and better serve our employees and customers globally,” said Sameer Kishore, Milestone’s President and CEO. “As we continue on the path we started with H.I.G. Capital seven years ago, we are delighted to welcome our new partners.”
David Bard, Partner at Halifax, said, “We are privileged to partner with Sameer and the Milestone team. They have proven themselves to be a best-in-class management team with an impressive story to tell. Halifax has built a strong thesis and set of executive relationships around IT services, which we aim to bring to bear to support Milestone in building on and further accelerating their tremendous success to date.”
Andrey Vakhovskiy, Managing Director at H.I.G. Capital, said, “Sameer and the Milestone team have done an excellent job executing on strategic initiatives and growing the business. We have enjoyed our partnership with the Milestone team and look forward to participating in the Company’s continued success as a minority investor alongside Halifax.”
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