Tier1 was featured in the Pittsburgh Business Times, highlighting a recent investment that was secured to continue the company's strong and rapid growth. In summary, the article covers the following information:
Tecum Capital Partners has made an equity investment in Tier1 Inc. They partnered with Rob Guidarelli, Tier1 CEO, to recapitalize the company in support of future growth, including increasing staff this year.
Rob explained, “We’re planning on hiring new sales people as well as consultants and technical people and doing additional marketing to expand the scope of services we offer.”
Tier1 currently employs 60, expects a 25 percent increase in 2018, for a start.
Rob went on to say, “We believe over the next five years, we could double or triple in size. Our preference is to hire people in Pittsburgh. We have customers across the country, but we can do most of the work here.”
Stephen Gurgovits Jr., Tecum managing partner, stated that Tier1 appealed to them in several ways, starting with a “good core customer base” with recurring revenue.
He went on to say, “We also liked the company’s commitment to those customers and their service levels. Rob and his team do a great job, and it was a chance to back them and while simultaneously adding some exposure in the software/technology space.”
Rob further added, “I liked the fact that they [Tecum] are local and really focused on developing deep relationships. Culturally, it’s a fantastic fit for us.”
For more detail, you can read the full Pittsburgh Business Times article.