Virtium, a leading provider of solid-state drive (SSD) and memory
solutions for the Industrial Internet of Things (IIoT) market, today
announced it has secured an investment from Court Square Capital
Partners (“Court Square”). Court Square and Virtium will partner to
drive design innovations and develop next-generation SSDs and other
semiconductor modules to address multiple markets’ growing demand for
secure data storage in the 4G/5G mobile infrastructure and industrial
IoT applications.
Court Square brings one of the most experienced investment teams in the
industry, having completed over 225 investments, including leading
technology firms such as Fairchild, Intersil, AMI Semiconductor and
others. Over a 40-year history, Court Square has successfully navigated
through numerous economic, industry and financial cycles, completed
multiple landmark transactions, and developed numerous businesses into
market leaders.
“Partnering with Court Square is strategic for Virtium to enter our next
phase of growth,” said Phu Hoang, co-founder, CEO, and Board member of
Virtium. “Our customers worldwide will be pleased with the investments
made to continue our innovations to support their growing demands for
high-reliability memory and SSDs. We would like to thank our exiting
partner, L Squared Capital, who has been instrumental in providing
guidance and support over the past four years for us to be able to drive
innovations and assemble a world-class management team and board
members.”
“Virtium has a strong history of founder-led growth supported by a
world-class management team,” said Joseph Silvestri, Managing Partner at
Court Square. “Court Square has deep domain expertise in the
semiconductor space. We are excited to combine our experience and
resources with the excellent operators at Virtium to position the
company for continued success.”
“Virtium’s innovation and strong execution over the past few years has
led to more than doubling of revenue and its management team has proven
to be able to drive continued organic growth,” said Steve Litchfield, a
Virtium Board member. “Virtium is in a strong position to acquire
companies in a similar space. It is the company to watch over the next
couple years.”
About Virtium
Serving the world’s top industrial embedded OEM customers for more than
two decades, Virtium designs, builds and supports solid-state-storage,
memory and semiconductor modules in the USA. It provides a dedicated
software team for custom storage solutions – all fortified by a network
of global locations. The company’s intelligent industrial embedded
solutions provide the robust performance, reliability and functionality
needed in the most demanding applications. For more information on
Virtium, please visit www.virtium.com.
About Court Square Capital Partners
Court Square is a middle market private equity firm with one of the most
experienced investment teams in the industry. Since 1979, the team has
completed over 225 investments, including several landmark transactions,
and has developed numerous businesses into leaders in their respective
markets. Court Square invests in companies that have compelling growth
potential within the business services, general industrial, healthcare,
and technology and telecommunications sectors. The firm has $6.2 billion
of assets under management and is based in New York, N.Y. For more
information on Court Square, please visit www.courtsquare.com.
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