Transformative Add-on Investment Expands New State Business Continuity Platform
LARCHMONT, N.Y., Nov. 30, 2023 /PRNewswire/ — New State Capital Partners (“New State”), a middle-market private equity firm that partners with entrepreneurially minded management teams, announced today its acquisition of Agility Recovery Services (“Agility” or “the Company”). Agility serves as a transformative add-on to New State’s existing business continuity platform, which includes AFIMAC Global Inc. (“AFIMAC”), a leading provider of staffing, emergency response, security, and risk management services. Terms of the transaction were not disclosed. New State initially invested in AFIMAC in August 2022.
Headquartered in Atlanta, GA, Agility Recovery Services has served blue-chip customers in banking, insurance, government, healthcare, and professional services for over three decades. The Company’s subscription-based services include priority access to back-up power, temporary office space, network connectivity, and mission critical back-up technology and equipment.
Daniel Han, Senior Principal at New State, said, “We are thrilled to add Agility to our business continuity platform. We believe Agility’s expertise in providing critical assets and infrastructure for its subscribers perfectly complements AFIMAC’s prowess in providing short-term security and personnel for its clients. The combined scale, breadth of offerings and reach of the two businesses offers our customers more solutions to address business disruptions, enhancing the value of the platform.”
New State also announced the appointment of Mark San Fratello as CEO of Agility. Mr. San Fratello brings over two decades of executive leadership in business services and emergency response to Agility. “I am very excited to join the Agility team and look forward to expanding the reach of the critical risk management services we provide. The opportunity to offer critical assets from Agility, combined with the staffing, emergency response and security services of AFIMAC, provides the most comprehensive set of business continuity services available in the marketplace,” added Mr. San Fratello.
Morgan, Lewis & Bockius acted as legal advisors, Raymond James provided financial advisory services and Piper Sandler provided debt advisory services to New State. Stifel acted as financial advisors for the Company.
About Agility Recovery Services
Headquartered in Atlanta, GA, Agility offers business continuity and disaster recovery equipment and services to help businesses mitigate the effects of business interruptions from natural disasters and other threats to operations. Services include temporary office space, cloud-based software solutions and networks, critical technology and equipment, data backup and recovery, power and fuel services, and workforce business continuity testing and training. Agility works with its clients to provide an end-to-end business continuity solution in one platform through a single provider.
About AFIMAC
For more than 35 years, AFIMAC has offered staffing, emergency response, security, risk management, and other business continuity services to image conscious companies across North America. AFIMAC prides itself on partnering with its clients to protect people and property both during times of crisis and regular business operations. With the industry’s leading senior management team having unparalleled expertise in its market, these professionals offer an assortment of human capital solutions, pre-crisis contingency planning, and premium security and emergency response services to businesses representing nearly every industry. For more information visit www.afimacglobal.com.
About New State Capital Partners
New State Capital Partners is an entrepreneurial-minded private equity firm that strives to be nimble, decisive, and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders and especially independent sponsors. The firm has the ability to invest up to $100 million in equity per transaction and seeks to invest in market-leading companies with services-based business models and $8 million to $40 million of EBITDA. New State and its affiliates have invested in 40 companies to date. For more information visit www.newstatecp.com
Media contact:
Lambert
Joanne Lessner, [email protected], 212-222-7436
or
Caroline Luz, [email protected], 203-570-6462
SOURCE New State Capital Partners
