StorageCraft Technology, a leading international provider of backup and recovery software, has successfully negotiated the sale of a majority interest to TA Associates to support the growth of the company, with Holland & Hart as lead legal counsel. The agreement, which includes an $187 million cash investment by TA Associates, was announced Jan. 5 in a StorageCraft press release. The acquisition is subject to customary closing and regulatory conditions and is expected to close in mid-February. Additional terms were not disclosed.
StorageCraft primarily serves small to medium-sized businesses, providing backup, disaster recovery, system migration, virtualization, and data protection solutions for servers, desktops and laptops on Windows and Linux platforms. The company’s integrated product suite is designed to reduce downtime, improve management and stability of systems and data, and lower the total cost of system ownership in both physical and virtual environments.
“The investment from TA marks an important milestone for StorageCraft, and we value the legal support provided by the Holland & Hart team that was instrumental in the success of this agreement,” said Curt James, Vice President of Marketing and Business Development at StorageCraft. “We view this partnership with TA Associates as the next big step in our evolution and look forward to further building our business with their support.” Founded in 2003, StorageCraft is headquartered in Draper, Utah, with European headquarters in Cork, Ireland, and regional offices around the world.
The multidisciplinary Holland & Hart team, which is serving as lead legal counsel, includes expertise and support from several practice groups across several Holland & Hart office locations as indicated below.
- Marc Porter (lead deal partner – Salt Lake City)
- Alison Johnson (deal attorney - Boise)
- Matt Bradshaw (deal attorney – Boise)
- Peter Perla (lead tax partner - Denver)
- Dave Glynn (lead export controls attorney - Denver)
- Lindsay Silber (lead intellectual properties attorney - Denver)
- John Ludlum (lead employee benefits attorney – Salt Lake City)
- Ken Logsdon (lead commercial finance attorney – Salt Lake City)
- Nicole Day (lead privacy attorney – Boulder, CO)
- Kristy Strohm (lead paralegal - Boise)