General Informatics, a Baton Rouge-based technology company, has sold a majority stake to Dallas-based private equity firm Rosewood Private Investments.
General Informatics was founded in 2001 and its headquarters sit at the corner of Highland Road and Bluebonnet Boulevard. It also has offices in Metairie and San Francisco with more than 60 employees. It sells information technology managed services such as cloud storage for businesses and is a consultant to government, health care providers and educational businesses.
The company is among the fastest growing businesses in Louisiana, according to the Inc. 5000 list for 2020. The company grew its revenue of at least $2 million by 127% between 2016 and 2019, according to Inc. 5000 data.
General Informatics acquired Baton Rouge-based Teknarus in 2016 and Walker-based TC Telecom in 2018.
Company founder and CEO Mohit Vij will still be involved in the business, working with private equity firm hire and president Don Monistere, who is the former president of Alabama-based TekLinks that was acquired in 2018 by C-Spire in Mississippi.
“We will continue with the same methodology, constantly evaluating and evolving our technology, partners and services," Vij said in a news release about future plans.
This is the first technology business acquisition for Rosewood Private Investments, which expects to be on the hunt for more companies to acquire and potentially merge with General Informatics. Rosewood typically looks for businesses with at least $20 million in revenue and the potential to invest between $50 million and $100 million in the business to grow it, according to its website.
"The (technology) industry remains highly fragmented, but we believe that General Informatics is unique in its breadth of technology expertise, high service levels, and talented team, which is why we are so excited to scale it,” said Briton Burge, principal at Rosewood Private Investments in a news release.