Walnut Creek, CA, May 11, 2015 -- Sayers, a leading IT solutions company in the data center infrastructure, enterprise security, and networking sectors announced that it closed on a recapitalization transaction led by Virgo Capital.
Facilitated by IT ExchangeNet, the transaction was the result of Sayers leveraging ExchangeNet's international network of strategic buyers and private equity investors.
According to Hemanth Parasuram, Managing Partner, Virgo Capital and new Chairman of Sayers, "We see significant value in how Sayers brings its vast subject matter expertise to develop and implement the best IT solutions for their customers across numerous verticals. Further, Sayers is an essential player in the IT value chain for leading providers such as HP, Check Pint, Palo Alto Networks, Citrix, VMWare, Bluecoat, Hitachi Data Systems, and many others. We are very excited to work with the management team to help Sayers reach its full potential."
Sayers also announced that Chris Callahan would be named Chief Executive Officer, after serving as President of Sayers and Vice President of Sales for the previous nine years. Gale Sayers, Sayers' founder, has been named Chairman Emeritus.
Callahan said, "We are all energized to have this transaction completed. We believe this is the right direction for Sayers' long-term strategy and will better serve our customers, employees, and partners. I look forward to working with Virgo Capital as Sayers enters its next chapter of growth and leadership."