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Eastside Leads Investment in Torch Technologies
Huntsville, AL – Eastside Partners announced that it has completed an investment in Torch Technologies, a leading provider of systems engineering, modeling and simulation, and information systems to government entities, primarily in the Department of Defense.
Eastside Partners acquired a minority interest in the Torch Technologies by purchasing all of the outstanding shares previously owned by the Company’s largest shareholder, Torch Concepts. Eastside Partners will become the Company’s largest outside shareholder and employees own approximately 45% of the shares.
Torch Technologies is a technology services business that has experienced strong growth in its operations, revenue and earnings. In just three years of operation, Torch Technologies has experienced employee growth over 100% each year.
“We are pleased that Torch Technologies is our first investment as it fits squarely into our investment criteria. We target fast growing companies with revenue of $2 million to $20 million in one of our target industry segments and information technology is a principal area of expertise for us. Tina Corley, Eastside’s CFO, has been a board member of Torch Technologies for some time allowing us to follow the company’s growth acceleration,” said Jay Horgen, co-Managing Member of Eastside Partners.
On having a new partner, Bill Roark, Chief Executive Officer, stated “We contacted Eastside Partners directly on becoming a long time owner of Torch Technologies because they have experienced professionals that we believe will accelerate our growth and help us achieve or corporate objectives.”
About Torch Technologies
Torch Technologies is focused on providing superior scientific and engineering services to government contractors, primarily in the Department of Defense. The Company has received recognition from its clients in the areas of systems engineering, modeling and simulation, and information systems.
Source: Torch Technologies