MENTOR, OH — Vestar Capital Partners has acquired Mentor-based signage and facility services company Stratus from Arcapita Group Holdings. Arcapita has completed the sale of Stratus on July 7.
Tim Eippert, Stratus CEO and founder, will continue to lead Stratus with the others Company senior leadership team, and they will reinvest their transaction alongside Vestar. Arcapita still retains a minority stake in the company.
"Stratus is fortunate to have found a true partner in Vestar, which shares our customer-centric philosophy and vision for growth, and has a deep understanding of our industry," said Eippert. "We look forward to leveraging Vestar's strategic relationships, capital, and operational expertise alongside our ongoing partnership with Arcapita, working together to continue building our capabilities for the benefit of our valued customers."
"Stratus' significant investments in systems and operational infrastructure, deep understanding of its customers' needs, and relentless focus on service excellence have enabled its growth into a scaled nationwide platform," said Nikhil Bhat, Vestar Managing Director and Co-Head of Business & Technology Services.
"The company has an attractive opportunity to expand into complementary service lines and reinforce its current offerings through acquisition and continued investment in the platform. We are excited to partner with Tim and his exceptional management team to help accelerate the next stage of Stratus' growth."
Stratus, founded in 1953 in Mentor, OH, serves a varied base of blue-chip customers, including some of the leading brands in 50 states and 24 countries across a broad range of industries, from healthcare, financial services, QSR, convenience stores, and telecom. Stratus offers the finest customer service and integrated solutions, with service using differentiated technology suites and people with the best expertise in various industries to meet the customers' needs.
The company provides versatile solutions for some of the world's largest and most recognized brands by offering signage solutions, energy services, repair and maintenance programs, and refresh and remodel capabilities. Under Arcapita, Stratus tripled its revenue to over $300 million while completing multiple add-on acquisitions to expand its customer base and product offerings.
Martin Tan, Arcapita's Chief Investment Officer, commented, "Arcapita is extremely proud of Stratus' transformation into the leading national brand implementation company that it is today. With Arcapita's support, Stratus has been able to expand its services and product offerings, as well as expand its footprint across the U.S. ... We are confident that with the current strength of the Stratus bench and Vestar's added support, the company will continue to enjoy the rapid growth we have achieved, in the coming years."
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