Clearlake Capital Merges Two Retail IT ConsultanciesMonday, January 6, 2014
Clearlake Capital Group on Monday said that it has acquired outsourced IT retail consultant Tolt Service Group and was merging it with a portfolio company acquired last year.
The Santa Monica private investment firm said Tolt in Charlotte, N.C., is being combined with Kyrus Solutions Inc. of Greenville, S.C. to create Tolt Solutions Inc. The company will be based in Greenville and employ about 900 retail IT consultants.
“We are excited to back the combination of two highly complementary businesses,” Behdad Eghbali, a Clearlake co-founder, said in a statement. “Tolt Solutions will have the resources, scale, and breadth of services to partner with leading retailers as they continue to make investments in technology and streamline store operations in a rapidly changing industry.”