Caltius Structured Capital Provides Debt & Equity to IT Convergence
October 21, 2022
Los Angeles, CA, October 2022 – Caltius Structured Capital (“Caltius”) is pleased to announce the recent closing of a debt and equity investment in Dallas – based IT Convergence Inc. (“ITC”). The Caltius investment, in partnership with ITC’s CEO, Arvind Sharma, and other debt and equity co-investors, was used to facilitate the management buyout of ITC.
Founded in 1998, ITC supports its clients in their digital transformation journey. Over the years, ITC has successfully positioned itself as the preferred global Enterprise Applications services provider with core competencies in Oracle-based solutions. Having served over 1,500 customers in more than 70 countries, ITC provides applications consulting, implementation, managed services in both private and public cloud (OCI). ITC’s Cloud migration solutions are specifically tailored to meet customers’ needs and drive effective enterprise application adoption across the business.
“We are pleased to partner with Caltius as we expand our services and grow the business. The Caltius team got up to speed quickly, understanding the key drivers of our business, and provided a flexible solution to help support our growth plans,” said Arvind Sharma, CEO of ITC. “We enjoyed their no-nonsense, solution-centric approach during the transaction and look forward to working together to scale ITC to newer heights.”
“We have been impressed with ITC’s strong reputation and expertise across diverse customers and end markets. The Company’s strong leadership team and value proposition will continue to fuel its growth,” stated Alisa Frederick, Managing Director of Caltius. “We are excited to partner with management in their plans to grow market share and expand ITC’s offerings.”