Caltius Equity Partners announced on Feb. 22 the sale of its portfolio company Vision Technology Solutions, a website developer for government organizations in the U.S. and Canada, to cloud-based software developer Granicus for an undisclosed amount.
Caltius Equity of West L.A. will maintain an interest in the business through its partial ownership stake in Granicus. Washington, D.C.-based Granicus acquired Vision to create an integrated developer of website, as well as communication and legislative management software, for governments, the company said in a press release.
Caltius Equity buys and builds lower-middle market companies in business services, industrial services, IT and consumer services. The firm invests from $10 million to $30 million per transaction for controlling or substantial minority ownership positions in businesses generating earnings before interest, taxes, depreciation, and amortization from $4 million to $12 million.
Technology reporter Garrett Reim can be reached at email@example.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
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