NEW YORK, July 19, 2022 /PRNewswire/ — Atlantic Street Capital (“Atlantic Street” or “ASC”), a private equity firm that invests in lower middle market companies poised for the next level of growth, today announced the acquisition of assets from CyberGuard Compliance, LLP, a licensed CPA firm with exclusive specialization in IT compliance and cybersecurity audit and assessment services, and the acquisition of Elite Consulting Solutions LLC, a provider of IT compliance and cybersecurity consulting and remediation services, collectively known as “CyberGuard.”
Founded in 2009 by Jim Jimenez and Tim Roncevich, CyberGuard provides non-discretionary IT compliance and cybersecurity services including SOC, HITRUST and PCI audits, vulnerability assessments, penetration testing, and other compliance/cybersecurity services. CyberGuard has a diverse client base, ranging from emerging growth and pre-IPO businesses to Fortune 500 clients, and performs over 300 audits annually. All members of the leadership team will continue in their current roles. CyberGuard is based in Las Vegas, Nevada, and for more information, please visit www.cgcompliance.com.
The United States IT compliance and cybersecurity services market, currently estimated to be greater than $4 billion, is expected to continue to see strong growth due to rising demand from clients to comply with increasingly stringent industry and customer standards and requirements. Businesses are looking to partner with the right third-party expert to perform assessments that withstand regulatory and customer scrutiny and that demonstrate the businesses’ ability to ensure information security in an environment of increased cyber risks.
ASC Managing Partner, Whit Williams, said, “Investing in CyberGuard represents an opportunity to partner with a proven management team with demonstrated experience in IT compliance and cybersecurity services. Our experience managing a delivery workforce with a focus on recruiting, training, and retention strategies along with our capabilities building sales and marketing will help scale this growing, tech-enabled platform. Additionally, an accelerated M&A strategy will further expand CyberGuard’s platform and breadth of services.”
Mr. Jimenez said, “CyberGuard was established with an exclusive focus on IT compliance and cybersecurity to serve industries handling sensitive data as they face increased scrutiny, liability, and demands for accountability from consumers, vendors, and the government.” Mr. Roncevich added, “Our professionals serve as trustworthy compliance partners backed by a technology platform that streamlines audits and minimizes customer burden. This exciting new partnership with Atlantic Street will help us to continue supporting existing clients with the highest quality services and to provide these critical services to additional clients.”
Paul Sun, Principal at ASC, added, “Increasingly stringent industry standards and regulatory environments will continue to drive demand for IT compliance and cybersecurity services, and we are very pleased to have found experienced partners in the CyberGuard management team, who will continue in leadership positions and work with Atlantic Street to accelerate the growth of the business.”
About Atlantic Street Capital
ASC is a private equity firm that invests in lower middle market companies poised for the next level of growth. The firm targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment and ASC’s value-added strategic and operational support. As a result, ASC works closely with management to unlock their business’ underlying value and help them succeed. For more information, visit www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE Atlantic Street Capital