Advanced IT Concepts becomes the newest investment in FVLCRUM Funds' strategy to grow diverse-owned businesses of scale
ROCKVILLE, Md., Oct. 19, 2023 /PRNewswire-PRWeb/ -- FVLCRUM Partners, d.b.a. FVLCRUM Funds Capital Group ("FVLCRUM" or "FVLCRUM Funds"), has completed the acquisition of Advanced IT Concepts, Inc. ("AITC" or the "Company"). Founded in 2006 and headquartered in Winter Springs, Florida, AITC is an established technology systems integrator and professional services provider. As part of the transaction, Advanced IT Concepts, Inc. became AITC, LLC.
AITC specializes in providing full systems engineering and technology integration solutions, as well as full cyber security & information assurance compliance support. David Gardner, CEO and President of AITC says, "We are excited to partner with FVLCRUM and leverage the increased access to resources that our partnership provides, both for our customers and our employees." Founder and Managing Principal, Gabriel Ruiz, follows up by saying, "Together, we will create more business opportunities and unlock greater value for our customers."
AITC is a core component in FVLCRUM Funds' larger strategy to build a premier cyber security and IT systems integrator of scale. "We are thrilled to add such a differentiated and attractive platform to FVLCRUM's IT Services portfolio," shares Chijioke Asomugha, Partner of FVLCRUM Funds. "Our equity capital, strategic alignment and experienced network of resources should drive accelerated growth for the business."
Chijioke Asomugha and Marques Martin, Partners at FVLCRUM Funds, led the transaction. Andre Castillo, Vice President, and Rebecca Bendetson, Associate, also supported the transaction. Womble Bond Dickinson served as legal counsel to FVLCRUM Funds on the transaction.
About FVLCRUM Funds
FVLCRUM Funds is a private equity firm that intentionally invests in diverse lower-middle market companies in the sectors of healthcare services, business services, and government contracting. Since 2013, the team has provided a capital markets approach to addressing the U.S. racial wealth gap and has been an innovator in aligning impact and alpha with an emphasis on delivering investment returns and sustainable social change. FVLCRUM's first fund qualified for Community Reinvestment Act (CRA) credit. For more information, visit http://www.fvlcrum.com.
Media Contact
Rebecca Bendetson, FVLCRUM, 202-960-1170, [email protected], www.fvlcrum.com
SOURCE FVLCRUM
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