April 16, 2018
Virgo Capital and Mosaic Capital Partners announced today the structuring and funding of the Employee Stock Ownership Plan (“ESOP” or “the Plan”) for Sayers Technology, a provider of data center infrastructure, enterprise security, and other IT solutions to businesses in various industries.
Chris Callahan, CEO of Sayers, remarked, “We were fortunate to find Mosaic in our search for the right capital provider. Their investment, which takes the unique form of an ESOP, will enable us to focus on and expand our service offerings. This influx of capital will support our growth and development for years to come. Not only have we found the right partner for Sayers, but now we can provide an additional benefit to our current and future employees.”
Mosaic Managing Partner Steve Buchanan added, “The Plan is not only a retirement benefit for employees at Sayers, but an investment in the company that will benefit all constituents—the Company, its customers, its partners, and its community. The ESOP creates an inherent alignment of interests between employees and the Company, as well as increases employee engagement. Research shows that companies with an ESOP tend to be environmentally conscious, keep jobs in the United States, and perform better in times of economic downturn. Mosaic is pleased to support Sayers on this journey both financially and strategically.”
About Sayers Technology
Sayers Technology, founded in 1984, is a leading provider of data center infrastructure and enterprise security products and other IT solutions to over 400 large and middle market enterprises in various sectors, including financial services, transportation, insurance, healthcare, manufacturing, and utilities. Sayers’ top-tier partner relationships include HP, Citrix, Hitachi, Checkpoint, and Palo Alto Networks. Sayers’ trademark is Built Around You, which captures its philosophy of helping its customers determine the best solutions for their own unique needs and requirements. Learn more about Sayers at www.sayers.com.
About Mosaic Capital Partners, LLC
Mosaic Capital Partners, LLC is a private equity firm providing mezzanine debt and equity to privately held middle market companies. Based in Charlotte, NC, Mosaic employs traditional private equity buyout strategies while also applying the partners’ unique expertise in Employee Stock Ownership Plans (ESOPs). Mosaic aims to help business owners achieve liquidity, wealth transfer and ownership transition with its PE-ESOP product.
