Trivest Partners (“Trivest”), a leading private equity firm focused on investing in founder and family-owned businesses, has completed the sale of its portfolio company MGT (“MGT” or the “Company”) to The Vistria Group (“Vistria”). MGT partnered with Trivest’s non-control fund extension, Trivest Growth Investment Fund (“TGIF”), in early 2020. TGIF was launched in late 2016 to solve founders’ need for a value-added private capital partner while maintaining operational and financial control of their business. To date, TGIF has completed 21 founder/family-owned platform investments.
Founded in 1975, MGT serves State, Local, and Education (“SLED”) clients with a broad offering of value-add education, technology, and performance solutions addressing the dynamic challenges faced by public agencies. The Company has successfully served over 15,000 clients in all 50 U.S. states and internationally, including many of the nation’s largest K-12 school districts and higher education institutions, including 30 historically Black colleges and universities (HBCUs). Led by CEO Trey Traviesa and a seasoned, diverse management team, the Company has continued its upward trajectory of social impact and strategic growth. Together with Trivest’s support, MGT completed seven acquisitions during their three-year partnership, which began in 2020.
“Our mission is to become the social impact and performance leader in our industry. Our people improve lives in the communities we serve through their incredibly meaningful work,” Traviesa said. Traviesa added, “TGIF’s involvement came at a critical inflection point for MGT, and it allowed us to accelerate the pursuit of our mission with a trusted partner with us in each step. Trivest’s expertise in M&A and organic initiatives created tremendous value for our over 400 stakeholders in the business.”
“Trey Traviesa and his talented management team deserve an enormous amount of credit for the success of our partnership. It was extremely gratifying to support MGT’s drive to positively impact communities and K-12 school systems, and we are excited to continue following MGT’s growth story in this next chapter,” said Jamie Elias, Managing Partner at Trivest.
“It was clear from our first meeting with Trey and the MGT team that their mission-first approach was unique. We are proud of our partnership and supporting the MGT impact across the nation’s local communities,” said Mario R. Masrieh, Principal at Trivest.
Jefferies served as the exclusive financial advisor and Davis Polk LLP served as legal advisor to both MGT and Trivest Growth Investment Fund. Houlihan Lokey served as financial advisor and Winston & Strawn LLP served as legal advisor to The Vistria Group.
About MGT
Founded in 1975, MGT is a leading provider of social impact and performance improvement solutions for public agencies, philanthropic organizations, and Fortune 500 companies across the U.S. and abroad. Over the last several years, MGT — a company committed to employee ownership — has expanded its education and technology solutions portfolio with the addition of Davis Demographics, EH&A, Kitamba, Ed Direction, Cira Infotech, Layer 3 Communications, and Step By Step Learning. Leveraging a half-century track record and reputation, MGT’s industry experts provide highly specialized solutions addressing mission-critical client priorities that improve outcomes and help organizations and communities thrive. For more information, visit www.mgtconsulting.com.
About Trivest Partners
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 500 investments, totaling nearly $8 billion in value. The firm has roughly $5 billion in AUM, with a growing team of over 70 professionals. For more information, visit www.trivest.com.
About The Vistria Group
The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. With over $10 billion in AUM, The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. For more information, visit www.vistria.com.
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