Citizens M&A Advisory served as the exclusive financial advisor to Blue Mantis, an IT services provider, on its recapitalization by Recognize Partners. The recapitalization will enable Blue Mantis to benefit from increased cybersecurity spending and focus on growing client demand for its expanding portfolio of services.

Blue Mantis was previously backed by Abry Partners, a Boston-based private equity firm focused on investing in middle-market companies in the media, information and business services industries. Abry Partners will continue as a minority investor in the company.

“Attending the Citizens Engage conference led to an amazing transaction for Blue Mantis, Recognize and Abry,” Josh Dinneen, CEO of Blue Mantis, said. “Don and his dedicated team were instrumental in identifying a tremendous opportunity and guiding the process that led to the next leg of our journey. We look forward to furthering our partnership with the Citizens team.”

“Blue Mantis has maintained a strong reputation as a next-gen IT services provider for 30-plus years due to its talented management team and differentiated capabilities,” Don Holbrook, managing director of Citizens, said. “With Recognize, Blue Mantis is primed to unlock significant value in the next chapter of growth.”