TA takes tech company off McCarthy's hands

Private equity firm TA Associates has acquired technology company CoSentry in a secondary buyout from investment firms McCarthy Capital and WaittCorp Investments.

US buyout firm TA Associates has acquired CoSentry, according to a source close to the deal. The firm would not disclose the transaction value. The deal was financed using capital from TA's $4 billion TA XI fund, which closed in 2009.

CoSentry is an Omaha-based technology company that provides data and cloud computing services to various regions in the US. Since 2008, the business has expanded its three existing data centres, built a new $25 million data centre in the Omaha area and more than quadrupled its EBITDA. 

This is the second exit to private equity that McCarthy has made in the sector. Last year it sold Peak 10, a Charlotte-based data centre operator, to Welsh Carson Anderson & Stowe.

McCarthy has around $500 million of investment capital and typically invests around $10 million to $50 million of equity in growth capital, recapitalisation and management buyout investments. 

TA Associates has various investments in the e-services, IT and technology sectors. Last year it exited software company 2nd Story Software in a deal valued at $287 million, according to PEI at the time. The firm has made 12 investments globally so far this year, according to a source close to the firm. 

McCarthy Capital and WaittCorp Investments could not be reached for comment.