Chicago, IL, May 10, 2023 — The Vistria Group announced a strategic partnership with Tampa-based MGT Solutions (“MGT”), a tech-led managed services business focused on outsourced solutions for State, Local, and Educational entities. Consistent with the expanded mandate for the Knowledge & Learning Solutions team, The Vistria Group’s investment in MGT marks the firm’s first education tech-led investment and the 12th and final investment from Vistria Fund IV, LP.
Founded in 1975, MGT was established by a group of public sector employees seeking to provide creative, practical solutions to the challenges faced by educational institutions, government organizations, school districts and non-profits. Focusing on critical Information Technology (“IT”) infrastructure needs and improving student performance outcomes, the company has successfully provided over 13,000 solutions across all 50 U.S. states and 20 countries abroad, servicing over 450 higher education institutions, including 30 HBCUs over 107 engagements. Led by a strong management team since 2020, the company has completed six acquisitions, increased its employee base by 400% and generated a 118% increase in revenue over the last year.
“Our goal is to become the social impact and performance leader in our industry, utilizing a three-pronged solution around technology, education and performance offerings,” said Trey Traviesa, CEO & Chairman of MGT Solutions. “We aim to bring in the best in the business to better serve our clients, helping them drive results, improve operational efficiency, advance student outcomes, and ultimately, better our communities. We’re thrilled to work alongside The Vistria Group in our next chapter of growth.”
“Our partnership with MGT further represents The Vistria Group’s mission of aligning with partners that prioritize impact as a driver to accelerate growth, access to quality education, and improved student performance. A strong IT infrastructure is the backbone of an organization’s operational efficiency and effectiveness in delivering on long-term goals,” said Phil Alphonse, Senior Partner and Co-Head of Knowledge & Learning Solutions at The Vistria Group. “Trey and his team are impressive individuals that have demonstrated MGT’s potential, and we are so pleased to partner with them through this investment.”
As the world continuously becomes more digitized, many schools are finding themselves behind the curve. With an aging IT infrastructure and shortage of IT professionals in the education sector, schools have become increasingly susceptible to cyber-attacks and thus, have incurred increased, avoidable costs. Schools and public sector entities can partner with MGT which manages a number of IT services including network administration, cybersecurity and cloud services. By partnering with MGT, schools and public sector entities also receive solutions in the areas of finance and forecasting, human capital, cyber and network security, diversity and inclusion and education improvement. Of the 20,000+ clients served, 65% of the projects obtained were from repeat clients. The company’s base of recurring revenue highlights the quality of MGT’s solutions and track record.
“In a tech-driven world, it’s critical for schools to embrace new technologies and adapt to changing methodologies in order to provide better outcomes for students,” said Yash Kandoi, Principal of Knowledge & Learning Solutions at The Vistria Group. “Partnering with MGT allows us to work in a largely under-penetrated market alongside like-minded leaders, who have the capabilities to grow the platform into the leading provider of outsourced technology solutions.”
Through this investment, The Vistria Group will work alongside Traviesa and MGT’s management team to further support its organic growth by investing in sales and marketing, expanding product offerings, increasing up-sell of new services, and identifying key partners to improve performance outcomes.
“Through working with The Vistria Group, we have access to the strategic and operational resources needed to accelerate our ability to implement solutions that will create an improved, equitable system for education everywhere,” Traviesa added. “This is a great opportunity for our team to build on our current track record and continue servicing the 50 million students across the nation.”
MGT is a national public sector management consulting and technology services firm that delivers diverse consulting services to a wide range of state, local and education clients across the U.S. and abroad. Leveraging a 45-year track record and reputation, MGT’s subject matter experts partner with thousands of public agencies to provide trusted solutions that improve government performance and help communities thrive. For more information, please visit mgtconsulting.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. It invests in essential industries like healthcare, knowledge and learning solutions and financial services that deliver value for investors as well as communities, employees, and consumers. 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. With over $10 billion in AUM, The Vistria Group believes it has delivered attractive returns for its investors while achieving positive outcomes for its portfolio companies, and the lives and livelihoods it supports. For more information, please visit vistria.com.