People & Places: Verrex Acquired by Five Crowns Capital, Strengthens Integrator’s Reach

CI takes a look at the latest news in the industry: private equity investors Five Crowns Capital acquires Verrex, Biamp expands its product management and global sales teams, AVI-SPL employees receive hearing loop certification from Listen Technologies, and more.

CI Staff
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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.”

SLIDESHOW: The most recent acquisitions, hirings, promotions and partnership news in the industry

“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.

Other news in the industry in July includes Herman‘s decision to enter into a distribution partnership with FSR, as well as various other company’s moves to expand their sales/marketing teams.

Check out this slideshow for more news on the most recent acquisitions, hirings, promotions and partnership news in the industry.

MORE: Verrex Acquired: 8 Lessons for Others Looking to Sell