Recently, Involta announced the close of the acquisition of our company by the Carlyle Group. While sometimes mergers and acquisitions have a negative connotation, I want to take the opportunity to confirm Involta’s commitment to the Cedar Rapids community and the tremendous benefit that this investment provides to the growth of this leading tech hub.
First and foremost, Involta is comprised of People Who Deliver, people who are not only dedicated to enabling digital transformation but also to giving back to the community in many ways. With that said, it is with the highest regard I announce that Involta’s leadership and team will remain in place, not only here in Cedar Rapids but across our national footprint. This investment also allows us to expand and continue talent development across the Corridor.
As we approach celebrating 15 years in business, I could not be prouder of our ability to thrive and become industry leaders with the support of our team. People Who Deliver is part of Involta’s brand promise, and it speaks to how we hire, train, and retain our team, empowering them to earn the trust of our clients and the communities we serve and truly become their partners.
Involta’s roots in Cedar Rapids extend beyond our client base. Who can forget the devastating derecho storm of 2020, destroying nearly everything in its path? The Cedar Rapids area alone sustained some of the most extreme storm damage — even considering the 2008 flood. Once the storm passed, our employees worked tirelessly to stabilize businesses’ work environments from the physical to the virtual. Meanwhile, Involtans from our Duluth, Minnesota, and Youngstown, Ohio, offices traveled to Cedar Rapids to support the work of our headquarters’ employees. One year later, they planted it forward to help the ecosystem by cleaning up one of the hardest-hit public spaces: Jacolyn Park.
We have much to look forward to. And after 15 years, we’ve only scratched the surface. The completion of this transaction allows Involta to accomplish significant near-term goals, propelling the company’s current upward trajectory with an infusion of capital to finance rapid growth. In addition, it accelerates momentum for our company to explore and complete new acquisitions and build on the foundation of hybrid cloud solutions and edge services for current and prospective clients.
We also thank the investors from Iowa who gave us our start. While we do not always know the investors within funds and companies, we estimate this transaction will return about $85M to Iowa investors. I have been a long-term supporter of entrepreneurship in Iowa and have deep ties and a strong commitment to the Entrepreneurial Development Center, Iowa Startup Accelerator and the Iowa Economic Development Authority. These types of exits allow investors in Iowa the confidence to continue to support startups.
I want to reiterate our commitment to the Cedar Rapids area. Our plan includes continued investment in the community and talent in Iowa and beyond.
Bruce Lehrman is founder & CEO of Involta.
