Salute, a provider of integrated asset management services for the data center industry, received a majority investment from funds managed by New Mountain Capital, an alternative investment firm headquartered in New York. Current investor LLR Partners will maintain a minority investment in the company.
With this investment and the added resources of New Mountain, Salute aims to continue executing on its growth trajectory, expanding its portfolio of technology-enabled offerings and continuing its innovative, multi-skilled training approach to recruiting and retaining best-in-class talent.
“New Mountain’s track record of building leading companies in critical infrastructure services and alignment with our growth strategy makes them an ideal partner for Salute,” Erich Sanchack, CEO of Salute, said. “We are also appreciative of LLR’s support and continued partnership as we build on our current momentum. Salute is well-positioned to meet our customers’ evolving needs in a dynamic market and to continue to invest in our capabilities and talented employees.”
“New Mountain has long admired Salute’s business and its dedication to helping data center owners manage their complex infrastructure reliably and sustainably,” Joe Walker, managing director at New Mountain, said. “We are excited to partner with Erich, the rest of the company’s experienced leadership team and LLR to continue building Salute as the leading partner and employer of choice in the data center industry.”
“Salute’s commitment to quality, innovation and responsibility is critical to its success and we look forward to investing further in the company’s industry-leading capabilities and technology-enabled solutions,” Rishi Abuwala, director at New Mountain, said.
“Since its founding, Salute has achieved impressive organic growth, attracted top tier talent to its team, executed on strategic acquisitions and expanded its international presence,” Michael Levenberg, partner at LLR, said. “We’re thrilled to continue supporting Salute’s growth trajectory and mission to provide meaningful value for its customers and employees, and we are excited to partner with New Mountain on this next stage of growth.”
DLA Piper served as legal counsel to Salute. Simpson Thacher & Bartlett served as legal counsel to New Mountain Capital.
