Tailwind Capital Sells AST
New York – January 2022 – Tailwind Capital (“Tailwind”), a leading private equity firm focused on services investments within select end-markets, has completed the sale of AST LLC (“AST”) to Recognize Partners, a technology services focused investment platform. AST is an award-winning full-service cloud services solution provider, serving clients in the public and commercial sectors for more than two decades.
Will Fleder, Partner at Tailwind, commented, “AST represented a compelling opportunity to invest in a cloud and digital transformation partner focused on Oracle’s technology stack. Together with the AST management team, we executed a value creation plan over the last five years centered on recruiting world class executives and building a business capable of scaling at the pace of the market’s growth. We are proud of the AST team’s accomplishments during our investment period.”
Jim Hoch, Partner at Tailwind, added “The sale of AST represents another successful outcome for Tailwind investing in and growing IT services companies. We appreciate the work Tailwind Operating Executive Gurvendra Suri did as Chairman partnering with management, and we wish Justin and his team continued success as they embark on the next chapter of growth.”
With over 750 team members globally, AST is a leading, trusted services partner to Oracle, Salesforce and other notable technology vendors, managing large-scale digital transformation efforts. As organizations accelerate their shift to leveraging next-generation technologies, AST is uniquely positioned to manage clients’ digital transformation initiatives, including securely and efficiently shifting on-premise systems to cloud-based applications.
“AST has built a strong foundation with an award-winning culture focused on leveraging cloud technology to deliver value-based outcomes for our customers,” said Justin Winter, CEO of AST. “There is a massive market opportunity within our core Oracle and Salesforce ecosystems, as well as adjacent areas across the technology solutions spectrum. As we look towards the next chapter, we’d like to thank the Tailwind team for their partnership and support over the last several years.”
Guggenheim Securities, LLC and Harris Williams served as financial advisor to AST and Davis Polk & Wardwell LLP served as legal advisor.
AST is an award-winning full-service enterprise systems integrator, serving clients in the public and commercial sectors for more than two decades. Clients look to AST for leadership and assistance in systems integration, business process redesign, project management, systems administration, and training. From on-premise applications to modern cloud technology, AST’s services encompass all aspects of Enterprise Resource Planning, Business Intelligence, Enterprise Performance Management, Customer Experience, and Middleware. AST also offers flexible Managed Services, supporting the needs of over 200 Public Sector and Commercial customers around the globe.
About Tailwind Capital
Tailwind Capital is a leading private equity firm focused on services investments within select end markets. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has invested in 50 portfolio companies and over 150 add-on acquisitions. For more information, please visit www.tailwind.com.