Private equity firm H.I.G. Capital announced Milestone Technologies, one of its portfolio companies, acquired Software Management Consultants Inc., a Glendale, California-based provider of IT services and staffing.
“The acquisition of SMCI continues Milestone’s strategy of consolidating the fragmented IT services and staffing industry,” said Andrey Vakhovskiy, managing director at H.I.G. “SMCI adds a deep bench of delivery and management talent to Milestone’s already strong team and will allow the company to further support its customers in their digital transformation initiatives.”
SMCI was founded in 1983.
“We are very excited about the capabilities SMCI adds to our services portfolio,” Milestone Technologies President and CEO Sameer Kishore said. “Our teams will collaborate to drive significant value for our clients.”
The SMCI deal is the second recently announced deal for H.I.G. Last month, the private equity firm announced the acquisition of ASGN Inc.’s (NYSE: ASGN) Oxford division.