CHICAGO – Auctus Capital Partners is pleased to announce its role as exclusive advisor to Cloud Equity Group, supporting a recapitalization of existing debt for its platform portfolio company BrightWorks IT. Funding was provided by Aequum Capital and the transaction was led by Auctus Managing Director Dustin Muscato.
BrightWorks is a platform of managed IT service providers that was established in 2020 and expanded year over year, acquiring seven add-on companies and integrating service offerings for clients across. The company provides IT infrastructure as well as comprehensive, scalable, and secure managed services that range from network support, virtualization, data center and infrastructure management, to backup and cloud solutions, data recovery, and cyber security, to strategic planning, consulting, and virtual CTO & virtual CIO services.
Working closely with Cloud Equity Group, Auctus Capital Partners successfully completed the transaction for BrightWorks IT with enhanced senior secured terms to recapitalize debt and support future growth and working capital requirements.
“We are delighted to have Cloud Equity Group as our client and look forward to working collaboratively with BrightWorks IT as it emerges as a market leader at the forefront of managed services for small- and medium-sized business,” said Muscato.
“Working with Auctus for our recent recapitalization has been an immense pleasure,” said Gary Li, Vice President at Cloud Equity Group. “The work performed by its team truly showcased a high-level of expertise, care, and commitment to this transaction. Their resourcefulness and attention to detail has not only impressed everyone involved, but also made the deal making process very smooth — resulting in a deal getting closed roughly within four weeks of term sheet signing.”
More information is available at www.brightworksit.com.
About Auctus Capital Partners
Auctus Capital Partners is a leading financial services and investment banking firm focused exclusively on creating value for the lower middle market. We specialize in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting. Our senior bankers have deep domain expertise across a range of industries, with the necessary foresight to navigate highly-complex transactions to maximize value and achieve optimal outcomes for clients. For additional information, visit www.AuctusCapitalInc.com.
About Brightworks IT
BrightWorks IT is a leading provider of managed IT services, offering businesses a comprehensive suite of solutions to optimize their technology infrastructure. With a commitment to excellence, our team of experts ensures smooth operations by delivering proactive services, round-the-clock support, and cutting-edge technology solutions. By prioritizing trust, transparency, and personalized communication, BrightWorks IT builds strong partnerships with clients, tailoring managed services to align with specific business goals and allows them to focus on driving growth and success. Learn more at www.brightworksit.com.
About Aequum Capital
Aequum Capital is a technology enabled rapidly growing non-bank lender that provides senior asset-backed and cash flow debt facilities that range between $5MM and $25MM to small and medium-sized businesses throughout the U.S. Aequum’s proprietary technology platform allows for efficient underwriting, funding, servicing, and portfolio management to ensure a quick loan closing process and hassle-free experience during the loan lifecycle for Borrowers. Find out more at www.aequumcapital.com.
