January 2021
SoftwareONE acquires controlling stake in SynchroNet, a leading cloud specialist for AWS digital workplace solutions
Crest Rock Partners (“Crest Rock”), a Denver-based private equity firm investing in lower middle market software, technology, services and manufacturing businesses, today proudly announced a majority investment in Webair Internet Development Company, Inc. (“Webair” or the “Company”). Founded in 1998 and headquartered in Garden City, New York, Webair is a leading provider of cloud-agnostic orchestration services and disaster-recovery deployments. Webair’s founders and members of management invested alongside Crest Rock.
Webair specializes in the management of complex managed private and hybrid cloud solutions and data protection. The Company provides a full suite of turnkey solutions to its customers, including managed cloud, Disaster-Recovery-as-a-Service (“DRaaS”), Backups-as-a-Service (“BaaS”), infrastructure management, colocation, and other ancillary network services. Webair’s comprehensive, customizable service offerings provide enterprises with tailored solutions that are optimized for their bespoke workload needs.
“The financial investment from Crest Rock, and their significant experience in the managed services industry, will help accelerate Webair’s growth and allow us to fulfill our strategic vision,” said Michael Ohayon, President of Webair. “We have a passion for excellence, and we built our business on providing our clients with exemplary managed services. In this next phase of growth alongside Crest Rock, we look forward to improving upon and expanding our breadth of services to meet the ever-evolving digital infrastructure and security needs of our customers.”
“Webair is an exceptional technology partner to its customers,” commented Steve Johnson, co-founder and Partner at Crest Rock. “The Company’s white-glove, partnership-oriented approach to customer service differentiates it from other managed services providers. At a time when resilient and agile technology is more valuable than ever, we believe Webair’s deep expertise, developed over more than two decades, and its breadth of capabilities, stands out amongst its peers’. We are excited to partner with the Webair team as they continue to capture opportunities to deliver valuable solutions to their customers.”
Layer 7 Capital acted as exclusive financial advisor to Webair in connection with this transaction.
About Crest Rock Partners
Crest Rock is a Denver-based private equity firm focused on the lower middle market. Founded in 2019, the firm seeks investment opportunities where it can leverage its principals’ extensive operating and investing experience to help companies execute on their strategic initiatives. Through the team’s completion of over 45 acquisitions, divestitures, mergers, and integrations, Crest Rock has developed a differentiated investment process and partnership approach, working with management, founders, and other stakeholders to establish alignment and achieve mutual objectives. Crest Rock targets control investments across multiple industry verticals, including software, technology, IT services, tech-enabled business services, and manufacturing, with enterprise values ranging from $15 million to $150 million. For more information about Crest Rock, please visit www.crestrockpartners.com.
About Webair
Webair is a cloud-agnostic orchestration service provider that specializes in the management of complex managed private and hybrid cloud solutions and data protection deployments. Webair is headquartered in Garden City, New York, where it operates a Tier III 21,000 ft2 data center and serves customers across North America, Europe, and APAC markets. For more information about Webair, please visit www.webair.com.
About Layer 7 Capital
Layer 7 Capital is a boutique investment bank focused on providing advisory services to companies within the Digital Infrastructure, Software-as-a-Service, Infrastructure-as-a-Service, Managed Services and Artificial Intelligence verticals. Layer 7's services include buyside and sellside M&A, strategic planning, valuation analysis and debt capital placement for sector companies and their current and potential investors.