Founded in 2002 by John Farrer and Phil Romine, Right Networks (www.rightnetworks.com) is the preeminent hosting and solutions provider for QuickBooks accounting software and other business-critical applications used by accountants and small and medium-sized businesses (“SMBs”). Right Networks’ cloud platform is built with advanced virtualization technology deployed on enterprise-class infrastructure, and effectively enables SMB end users to connect, share, and collaborate in the cloud with anytime, anywhere access to applications, files, and data. The Company currently supports over 25,000 customers.
Founded in 1983, BV Investment Partners (www.bvlp.com) is currently investing its eighth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding, the firm has invested over $2.9 billion in 86 companies, actively targeting investments in the business services and IT services sector.
Right Networks of Hudson, New Hampshire announced that it has been recapitalized by BV Investment Partners (“BV”), a Boston-based private equity firm. This transaction is the successful culmination of an initiative led by Bigelow LLC on behalf of Right Networks to proactively seek out the best new majority shareholder for the Company.
“Businesses are moving to cloud-based environments for secure and reliable access to their files and applications in a familiar format and without any internal IT management obligations. The BV team thoroughly understands our business, and we look forward to working with them to deliver innovative and accessible technology solutions to our valued customers.” John Farrer, CEO Right Networks
Sean Wilder, Principal of BV, said, “In collaboration with management, we have developed an actionable growth plan that includes investing in sales and marketing and new service offerings, and exploring potential M&A opportunities. We are excited to help the team at Right Networks implement this plan.”
“John, Phil, and the management team have done a tremendous job building the business, and we’re fortunate to be partnering with them to accelerate growth going forward. Right Networks operates in a sector that we know well and stands out as a highly unique and attractive business with the scale, relationships, and technology to capture the tremendous market opportunity in supporting SMB cloud-based workloads.” Matt Kinsey, Partner BV Investment Partners
BV will own a majority of the recapitalized company and the senior management team, led by John Farrer, will maintain a significant ownership interest