02/01/2024
Citizens Advises Datavail on its Recapitalization by CIVC Partners
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Datavail Corporation on its recapitalization by CIVC Partners. The recapitalization will enable Datavail to accelerate its organic and inorganic growth as well as to further invest in Datavail TechBoostTM, a proprietary cloud-based automation platform for databases.
Datavail is a leading data-managed services provider, offering database management, data and analytics services, along with application implementation, development and support services. Since its founding in 2008, Datavail has become a full-service managed services provider helping mid-market, enterprise and SMB clients effectively manage their data and applications both in the cloud and in on-prem environments.
CIVC Partners is a Chicago-based private equity firm investing in high-growth middle-market companies in the business services sector.
Datavail Chief Executive Officer Scott Frock said: "Citizens leveraged deep sector expertise and worked tirelessly to communicate our unique platform and growth story. Don Holbrook and the entire Citizens M&A Advisory team were fantastic to work with and instrumental in securing our new partnership with CIVC.”
Citizens Managing Director Don Holbrook said: “Datavail has maintained a strong reputation in the IT managed services industry for over 15 years due to its technology expertise, world-class talent and leading customer service. With CIVC, Datavail is well-positioned to continue to help clients leverage data across the enterprise to drive powerful business outcomes.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $222.0 billion in assets as of December 31, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X (formerly Twitter), LinkedIn or Facebook.
# # #
The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.
