Source Support Secures Growth Investment
Company acquired by Capitala
LAWRENCEVILLE, Ga. — Source Support Services reached an acquisition agreement with Capitala Group. Under the agreement, Capitala and members of Source’s senior management team have acquired Source from Founder Mark Oldfield. Capitala will provide capital to enable growth by expanding into the information, medical, and industrial automation technology markets; adding service offerings, and developing of new technology.
Mark Oldfield will retire, Mike Stolz will continue to serve as Source’s CEO, and the rest of Source’s current management team will remain in place.
“We are excited to be partnering with Source’s management team and have been very impressed with the team’s track record of success,” said Joe Alala, CEO of Capitala. “We share management’s ambitions for the expansion of Source’s global platform and will be investing to scale the business further by focusing on revenue growth and the enhancement of its business portfolio across new market segments.”
“I am extremely proud of the value we have created for our global customers and appreciate their ongoing support and commitments,” said Stolz. “Having Capitala’s support in our growth strategy enables Source to invest in areas, such as technological advances, expanding vertical markets, and growing sales capabilities and resources. The partnership with Capitala will strengthen Source’s position as an innovative, equitable and sustainable business leader in the technology services industry. Capitala is as committed as we are to our mission of delivering innovative and quality-driven solutions that advance the overall customer experience. I’ve never been more excited about our future.”
“I am so grateful to have spent the last 20 years leading Source Support Services to become the company it is today,” said Oldfield. “I want to thank our employees for all their efforts and commitment to our customers’ success. Our team and its culture are the reason for the company’s consistent growth and delivery of unparalleled customer service and satisfaction. Capitala’s investment will enable Source to reach its maximum growth potential.”