Atlanta, GA – September 11, 2020
Caymus Equity Partners LLC (“Caymus Equity”) announces the completion of its eleventh platform investment in its recapitalization of PlanIT Group LLC (“PlanIT” or the “Company”). Headquartered in Atlanta, GA, PlanIT is a full-service management and technology consulting firm providing professional IT consulting and staffing services for the global healthcare, government, and commercial sectors with an operating footprint throughout North America and Western Europe.
Founded in 2014, PlanIT has a track-record of success providing consulting and staffing solutions for blue-chip clients, maintaining valuable relationships with several Fortune 100 customers. PlanIT provides a full suite of service offerings including business consulting & project management, business intelligence & analytics, data network architecture, software systems management, cybersecurity and healthcare IT. In addition, PlanIT maintains numerous contracts across the Department of Defense and intelligence community, allowing the Company to place highly desirable candidates in difficult to fill positions, while providing the business with additional potential to scale within the governmental sector.
As part of this transaction, PlanIT has hired Mike Gallagher as its new Chief Executive Officer. Mr. Gallagher has spent a majority of his career in the staffing industry working for large staffing companies including The Adecco Group and, most recently, Nesco Resource.
The transaction provides PlanIT with the necessary capital and resources to continue to provide high-quality services to its existing customers, while further expanding its business through the penetration of previously underserved industries. Furthermore, a fragmented IT staffing sector presents significant opportunity to grow through add-on acquisitions.
“I am extremely excited to join the PlanIT team and partner with Caymus Equity in this important transaction for PlanIT,” said Mike Gallagher, CEO of PlanIT. “PlanIT and the existing team have established the Company as a leader in IT consulting and staffing. The PlanIT team has built solid relationships with some of the largest and best companies in the U.S. With PlanIT’s consulting and staffing experience, we are positioned to build on those relationships and expand into other related sectors. This transaction and our partnership with Caymus Equity will provide us with experience and resources to enhance our operations for the benefit of our customers.”
“PlanIT has a deep understanding of its customers’ needs which is reflected in its consistently high levels of customer service and long-tenured customers,” commented Geoffrey Faux, Managing Partner at Caymus Equity. “We are thrilled to partner with the PlanIT team and bring Mike Gallagher on board to serve as the Company’s new Chief Executive Officer. The Company is a great fit for Caymus Equity and its strategy of investing in niche market leaders with mission critical services. We look forward to working closely with the PlanIT team to capitalize on its multiple growth opportunities.”
About Caymus Equity Partners
Founded in 2001 and with offices in Atlanta and New York, Caymus Equity Partners is a leading private equity firm focused on control transactions in the lower middle market. We invest in profitable companies with significant upside potential where the owners and management teams are seeking a value-added partner to help fuel growth. Our partnerships center around mutual culture, business values, and goals as the foundation for driving sustainable growth and value for all stakeholders. We strive to work with management to develop and refine strategy and provide support while leaving day-to-day execution to the operators of the business.
Caymus Equity Partners’ other holdings include Phoenix Aromas & Essential Oils, a leading global distributor of specialty flavor and fragrance ingredients; PureRED, a provider of a unique combination of marketing services that increase sales and customer engagement for world class retail, consumer packaged goods and business-to-business enterprises; Excel Orthopedic Rehabilitation, a premier provider of sports and orthopedic physical therapy and rehabilitation services in northern New Jersey; Temp-Con, a leading provider of heating, ventilation, air conditioning and refrigeration (“HVACR”) installations, maintenance and repair services in the greater Kansas City market; and Pan-Am Dental, a full-service manufacturer and distributor of high quality custom dental products.
For more information, visit www.PLANITGroup.com.