RTC Partners, a Miami-based firm specializing in lower middle market investments, sold Verdantas, a Tampa-based science, engineering, and consulting services provider, to Sterling Investment Partners. Greenberg Traurig, LLP served as legal counsel for RTC during the transaction.
Verdantas’ management, employees and RTC will maintain significant equity stakes in the company after the sale. The financial terms of the deal were not disclosed.
RTC co-founder and co-managing partner Christopher Lee expressed gratitude towards the Verdantas team for their contributions to RTC’s success. He highlighted their efforts in implementing growth strategies such as organic expansion and strategic acquisitions as well as fostering a culture centered on collaboration and trust within the organization.
In addition to legal counsel from Greenberg Traurig, LLP and Dechert LLP provided accounting services from Cohn Reznick, LLP and CliftonLarsonAllen, LLP. On the other hand, Seyfarth Shaw LLP served as legal counsel while Alvarez & Marsal LLP provided tax advisory services for Sterling Investment Partners and its affiliates. Sterling focuses on investments in the middle market while RTC specializes in lower middle market segment investments.