Visual Edge IT received new capital commitments from Encina Private Credit and funds managed by Ares Management totaling $40 million which the Company intends to use to support its long-term growth objectives. These commitments will allow for continued investment in best in class print and IT solutions for both new and existing customers.
“We look forward to our continued success and support of our approach to the Total Office Technology markets,” shared Austin Vanchieri, chairman and CEO, Visual Edge IT.
Visual Edge IT began its expansion program in 2017 following a capital commitment from funds managed by Ares Management with the goal of evolving its print-focused strategy toward concurrent development of Managed IT Service and Security solutions. “We look forward to expanding our relationship with Visual Edge and supporting management’s continued organic and inorganic growth opportunities,” said Brian Goldman, Partner at Ares.
“We are strongly committed to furthering our platform for growth and expanding our company footprint,” agreed David Ramos, chief strategy officer, Visual Edge IT, and Brian Frank, Chief Operating Officer, Visual Edge IT. “We continue to offer leading edge technologies and are relentlessly growing that portfolio for our customers – IT security, backup and recovery, print/copy, cloud, collaboration, and more. This significant funding will support both our company and technology initiatives as we move into the future.”
“We are extremely excited to partner with VEIT and support the company by delivering our unique suite of lending capabilities as they execute on their growth strategy going forward,” said Mike Hensinger, president and chief commercial officer at Encina Private Credit.
