Deal Details

Sprout Sells Majority Stake to Recognize

Technology & Services

Sprout, a portfolio company of NCP, sale of majority stake to Recognize

Summary

Sprout (the “Company”), a portfolio company of New Capital Partners (“NCP”), has sold a majority stake to Recognize Partners (“Recognize”). Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Sprout on this transaction.

About

Founded in 2014, Sprout is the emerging leader of global IT Asset Disposition (“ITAD”) solutions, specializing in the retirement of complex hardware portfolios from the client to the cloud. The Company’s proprietary software platform—embedded within the supply chain systems and processes of the world’s largest, most privacy-obsessed enterprises—enables Sprout to deliver end-to-end services that drive measurably superior data security, sustainability and total-cost-of-ownership outcomes. More than 200 at-scale and hyperscale enterprises utilize Sprout’s ITAD solutions in over 40 countries across 6 continents through a global network of processing centers. Sprout is headquartered in Charlotte, North Carolina.

NCP is a private equity firm comprised of former operators that makes investments in niche, tech-enabled services companies in the healthcare, financial and business services industries. Leveraging its extensive operational experience, NCP helps create value in portfolio companies by cultivating true partnerships with management teams and focusing on one core goal: Building Great Companies. NCP is headquartered in Birmingham, Alabama.

Recognize is an investment platform exclusively focused on the digital services industry. Recognize provides operational expertise, industry insights and strategic capital to innovative companies in this sector. Recognize is headquartered in New York, New York.

Technology & Services

Sprout, a portfolio company of NCP, sale of majority stake to Recognize