Soterra Capital, which bought SinglePoint in 2016, is keeping equity in the combined company.
Bluewave Technology Group has acquired SinglePoint Communications Group in a move that doubles down on its Louisville, Kentucky-area presence and strengthens its East Coast footprint.
The deal represents one of the first instances of a private equity company selling its purchased technology advisor (agent) partner. Soterra Capital, which bought SinglePoint Solutions in 2016 and later bought other technology advisory firms, will be a minority equity holder in Bluewave following the sale.
Executives involved with the deal said SinglePoint and Soterra were pursuing a business model similar to that of Bluewave. The latter aims to unify acquired companies into a single platform for full life-cycle technology advisory services.
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Bluewave’s Nic Jones