Mill Point Capital Announces Carve-Out of Pythian Services Business

OTTAWA, ON – September 6, 2019 – An affiliate of Mill Point Capital, a middle-market private equity firm focused on control-oriented investments in North American IT services, business services, and industrial companies, and The Pythian Group, Inc. (the “Seller”) today announced that they have completed Mill Point’s acquisition of the Seller’s services division (“Pythian” or the “Company”) in a corporate carve-out transaction. Pythian is a provider of IT services that enable businesses to more effectively use their data and the cloud to transform how they compete and win.

“With Mill Point’s involvement as an investment partner, Pythian can now focus on growing our data and cloud services business,” said Keith Millar, President of Pythian. “We’re thrilled to begin this new chapter. Pythian has an impressive data pedigree and with our successful move to embrace Cloud as a core element of our service offerings, we feel that Pythian is well-positioned to tackle our clients’ toughest data and cloud challenges.”

Pythian has over 250 customers across the globe. Chris Fitzgerald, VP IT Infrastructure and Technology Services at Pythian client FreshDirect stated, “We’ve been a happy Pythian customer for over ten years and we’re looking forward to working with them under their new ownership as our data needs continue to change and evolve.”

Michael Duran, Managing Partner of Mill Point, commented, “Over the last 20 years, Pythian has built a reputation for excellence in managing complex data applications, both on-premises and in the cloud. This transaction enables Pythian to narrow its focus on what matters most – delivering top-notch service to its clients. We are excited to partner with Keith and his team.”