Broadtree Partners' Leading U.S. Government MPS Company Acquired by CenterGate Capital

Broadtree Partners, a lower-middle market private equity firm, recently announced that its portfolio company, Cartridge Technologies, LLC (CTI), has been acquired by CenterGate Capital, a middle-market private equity firm. This acquisition marks an important milestone for both companies and demonstrates their commitment to growth and innovation.

Established in 1990, CTI is a prime contractor to the Federal Government and provides managed print services to over 200 unique clients across all 50 U.S. states. With its expertise in helping federal agencies design, deploy, and manage highly secure print environments, CTI has become a premier managed print services provider.

During its partnership with Broadtree, CTI experienced significant growth, with revenue increasing by more than 2.5 times, headcount expanding by 35%, and the number of devices under management growing by 80%. This success can be attributed to CTI's mission-focused approach and its ability to deliver highly effective MPS solutions to customers operating within highly secure and stringent requirements.

The acquisition by CenterGate Capital opens up new opportunities for CTI's future growth. CenterGate Capital is a private equity firm managing over $740 million and focuses on growing lower middle market companies. By partnering with CenterGate, CTI will have access to flexible capital and the expertise of a firm dedicated to creating value for its portfolio companies. This partnership will enable CTI to further accelerate its growth and continue providing exceptional services to its federal government clients.

"We are excited to partner with CenterGate for our next phase of growth," said Colin Murphy, CEO of CTI. "The CTI team has accomplished great things, and we look forward to leveraging CenterGate's resources and expertise to further expand our reach and capabilities."

This acquisition is a testament to the hard work and dedication of the CTI team and the strong leadership provided by Colin Murphy. Under his guidance, CTI has become a trusted and respected name in the managed print services industry.

Holland & Knight served as the legal advisor to Broadtree and CTI, ensuring a smooth transaction process. Their expertise in mergers and acquisitions provided valuable support throughout the acquisition.

Broadtree Partners, the parent company of CTI, is headquartered in Charlotte, North Carolina. It is a lower-middle market private equity firm with an operator-centric model. Broadtree partners with business owners and entrepreneurs to provide operational resources and institutional capital to transform and grow founder-owned businesses. Their team of operators and entrepreneurs works closely with owners throughout the transaction process and transitions to running the day-to-day operations after an acquisition.

CenterGate Capital, the acquirer of CTI, is focused on growing lower middle market companies. With over $740 million in managed assets, CenterGate provides flexible capital and works in partnership with management teams to create value for all stakeholders of their portfolio companies. They structure transactions to enable owners to monetize their equity while positioning companies for future growth.

The acquisition of CTI by CenterGate Capital is an exciting development for both companies. It highlights the potential for growth and innovation in the managed print services industry and sets the stage for future success. With the combined resources and expertise of Broadtree Partners and CenterGate Capital, CTI is poised to continue its expansion and deliver exceptional services to its federal government clients.