Hyde Park Capital Announces Transformyx is Joining Lockstep Technology Group, a Portfolio Company of Renovus Capital Partners

Tampa, Florida – May 17, 2022 - Hyde Park Capital Advisors, LLC (“HPC”) is pleased to announce that Transformyx (“Transformyx”), a leader in technology infrastructure and managed services, is joining Lockstep Technology Group(“Lockstep”), a leading provider of technology solutions for SLED organizations and a portfolio company of Renovus Capital Partners (“Renovus”). Hyde Park Capital team served as the exclusive investment banker to Transformyx and initiated this transaction.

Jim Dubos, CEO of Transformyx said, “We couldn’t be more pleased by the result of the process that Michael and Barry managed for us. Joining forces with Lockstep will provide Transformyx, with the resources necessary to meet the growing demands of the market.”

Michael Johnson, Managing Director of Hyde Park Capital commented, “We really enjoyed working with the exceptionally talented Transformyx team and building relationships with the leaders there that will continue well beyond this transaction. They created a highly successful and rapidly growing MSP business that is a market leader in Louisiana. This transaction with Lockstep, backed by Renovus, rewards them and their partners for building such an outstanding company and sets them up for significant future growth and additional new opportunities looking forward. We appreciated the opportunity to work as their investment banker and financial advisor on this significant transaction for them.”

Lockstep and Transformyx share a common purpose to provide technology solutions that enable a robust, scalable, innovative, secure, and highly engaging environment for working and learning. With combined resources, Lockstep, based in Atlanta, GA and Greenville, SC, and Transformyx, based in Baton Rouge, LA, will strengthen their market positions in the Southeast and offer their clients turn-key solutions that include managed services, data & infrastructure, security & compliance, and end point technology solutions.

Both organizations take pride in being customer-centric and client obsessed and have partnered with thousands of organizations spanning schools, colleges, healthcare, municipalities, and business over the past decade.

“The passion and purpose embodied by the Transformyx team align with everything we do at Lockstep. We’re excited to be able to immediately offer a wide range of technology solutions that enable success.” Mahendran Jawaharlal, CEO, Lockstep Technology Group.

About Lockstep

The Lockstep Technology Group, comprised of Lockstep Education, BridgeTek Solutions, and Transformyx, is the only full-service provider of IT solutions and services focused exclusively on optimizing the IT strategies of Government, Education and Medical (GEM) organizations in the southeast. Founded by mission-focused industry veterans who understand the unique needs of GEM users, the company’s unmatched skills across 100+ vendors offer support spanning managed services, data & infrastructure, security & compliance, and endpoint technology solutions. By augmenting the internal resources of its clients, the organization provides additional bandwidth to support key areas of need while allowing the client IT teams to focus on core strategic objectives. For additional information, please visit www.lockstepgroup.com.

About Transformyx

Transformyx, a leader in technology infrastructure and managed services, serves over 1,000 clients across the U.S. in various enterprises such as financial, education, government, healthcare, legal, as well as mid-market and commercial. Formed in 1987, Transformyx is a Louisiana-based provider of agile, strategic technology and business solutions built upon innovation. For additional information, please visit www.transformyx.com.

About Renovus Capital Partners

Renovus Capital Partners is a private equity firm focused on providing capital and strategic assistance to small and mid-sized companies. Its team has a combined50+ years of experience investing in its core industries and has helped more than 25 companies grow and succeed. The team’s investing expertise covers all segments of the education, healthcare services and technology services industries. For additional information, please visit www.renovuscapital.com.

About Hyde Park Capital

Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and serving the corporate finance needs of middle market public and private companies. Its principals have extensive investment banking experience executing merger and acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park’s bankers have significant experience in the technology and business services sectors. Hyde Park Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For additional information, please visit www.hydeparkcapital.com.

Client Testimonials

"Hyde Park’s team guided us through the process, providing us with a number of high quality counter-parties, and supported us through the transaction structuring, negotiation and due diligence. We are very pleased with the outcome and excited for the future of DTS.”
Allen Ibaugh, Co-Founder and CEO of Data Transfer Solutions
“We enjoyed working with Hyde Park Capital and appreciated their M&A expertise in the technology services sector and their help on this important transaction.”
Chris Toepke, CEO of Trifecta
“We very much appreciated the assistance of Hyde Park Capital on this strategic acquisition for ITE. Their M&A experience was quite helpful to our team and the overall process and assured the deal was well executed and we got it closed on schedule.”
Scott Dols, CEO of Industrial Truck & Equipment, LLC
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