Stronghold Data has a proven track record of success. Founded over 30 years ago, the team continues to grow and innovate to meet the clients’ and market’s evolving needs. James Richards, one of the founders of Stronghold Data, was not interested in selling his company – although approached by numerous different M&A opportunities over the course of the years. Several years back James joined the HTG Peer Groups and was introduced to Scott Putnam, the founder of Apex Technology. Scott Putnam joined New Charter in 2020 and presented James with the opportunity he was going to take for his company.
Scott explained why he joined New Charter and why this opportunity is unlike anything else in the M&A space. New Charter is not looking for companies that want to sell but rather, seeking companies that want to continue to run their business with a financial partner for further investment, and a team to join in leading the industry through the next round. “My CPA and attorney both told me this is one of the best opportunities they’ve ever seen in the M&A space. That spoke volumes because they are some of my most trusted advisors”, explains James.
Joining New Charter as the eighth company has allowed the team to gain invaluable opportunities such as the ability to spread out risk, provide a growth and exit strategy, peer collaboration, broader capabilities and resources, and more. However, one of the biggest takeaways and advice James has for companies in a similar position is, “Don’t wait. As the value of New Charter raises, your multiple of what you think you are going to be able to build on your own will not keep pace with New Charter’s growth.”