Verrex, a Mountainside, N.J.-based integration firm was recently acquired by an institutional investment group led by Five Crowns Capital.
According to Verrex CEO Thomas Berry Jr., the acquisition by the private equity group doesn’t represent an exit plan. Berry, who’s in his mid-40s, sees it as a strategic move that positions the firm for far more growth than would otherwise be possible.
“Since our founding nearly 70 years ago, Verrex has aligned its capabilities and solutions with the way people want to work,” said Berry in the press announcement. “We continue that alignment with partners who believe in our ambitious vision and who have the resources and expertise to see it’s achieved. This new milestone also culminates two years of careful succession planning.”
“As I continue to build on my family’s legacy, I am grateful to the prior generation for their leadership and devotion. I am excited to guide Verrex into the next stage of its growth, and to give these fearless entrepreneurs the retirement they rightly deserve,” said Berry.
The company announcement further states that the acquisition will allow Verrex to further strengthen its relevancy to this enterprise market, as well as middle market and SME segments.
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