Ropes & Gray Advises BV Investment Partners in Sale of TriCore Solutions
Ropes & Gray represented middle-market private equity firm BV Investment Partners in its agreement to sell application and infrastructure services provider TriCore Solutions to Rackspace, a leading managed cloud services provider. BV originally invested in TriCore in 2014 in partnership with its existing management team. The transaction, which was announced May 25, is expected to close in June. Additional details were not disclosed.
Since its founding in 1983, BV has invested over $2.9 billion in 89 companies, actively targeting investments in the business services and information technology services industries.
The Ropes & Gray team was led by private equity partner Todd Boes (San Francisco) and included tax partner Amanda Holt (Boston) and private equity associate Eric Issadore (San Francisco).
BV recently closed its BV Investment Partners Fund IX at its $750 million hard cap. Ropes & Gray represented BV in the fund raise.