Schurz Communications Inc. : Acquires Leading Hybrid Cloud Provider Online Tech

Schurz Communications diversifies its business for future generations with investment in hybrid cloud

Schurz Communications Inc. announced today that it has acquired leading compliant hybrid cloud provider, Online Tech, LLC. The investment represents entrance into the rapidly-growing cloud market with a proven platform that can be built upon for future generations. Industry veterans, Brad Cheedle and Tom Wilten of Cloudworthy join the current leadership team and will serve as the CEO and CFO, respectively.

Online Tech currently serves nearly 500 clients across the Midwest with its network of seven data centers and full suite of hybrid cloud services including managed Microsoft Azure, Disaster Recovery as a Service, Data Protection as a Service. With a focus on security and compliance, their expert engineers support mission-critical applications and provide enterprise-class infrastructure to mid-market customers across a range of industries. DH Capital, LLC served as the exclusive financial advisor to Online Tech.

During the sale of its broadcast assets in late 2015, the Schurz family retained Moorgate Capital Partners to assist with its future growth and diversification strategy. After an extensive vetting process, the cloud managed services sector was identified as the best fit for Schurz.

“The question we were grappling with after the sale of our broadcast properties was: How do we position the company for growth for future generations? We were looking for something that aligned with our values and our core competencies but also was in an exciting and high growth area that we could build upon,” said Todd Schurz, President and CEO Schurz Communications, Inc.. “The cloud represents all of that for us.”

Moorgate introduced Schurz to Brad Cheedle and Tom Wilten of Cloudworthy, who were looking for a well-managed, high-growth hybrid cloud company that focused on compliance and security with an industry leading client portal that could offer customers a Single Pane of Glass across a customers varied IT environments. After evaluating numerous companies in the space together, Online Tech emerged as the clear favorite, meeting the criteria of both Schurz and Cloudworthy.

“Our company is known for patient capital that assists growing companies realize their aspirations. Online Tech represents one of the most exciting opportunities in the cloud market today. The strong and proven management team has ambitious goals in this rapidly growing industry and we are excited to provide the support necessary to achieve them,” said Todd Schurz.

Online Tech plans accelerate and expand its footprint into additional underserved markets across the nation to ensure more customers have access to secure and compliant hybrid cloud solutions, superior customer support and managed IT services.

“The Schurz family are tremendous partners and will allow Online Tech to realize the full potential of its proven platform,” said Wilten. “Schurz’ support will allow us to expand the company’s product portfolio and enter in to new markets that are currently underserved. This is an exciting opportunity and we are looking forward to helping more customers solve their complex IT challenges as they migrate to the Cloud.”

About Schurz Communications Inc.

Schurz Communications Inc. is a Mishawaka, Indiana-based news and information company that consists of broadband, newspaper publishing and digital media operations. It owns 3 broadband companies servicing over 75,000 subs, publishes 11 daily and 7 weekly newspapers in medium and small markets with a daily circulation of 129,467 and weekly circulation of 95,800, various niche publications, and multiple minority investments. Geographically, Schurz Communications has a presence in Arizona, Indiana, Iowa, Maryland, Michigan, Nebraska, Pennsylvania and South Dakota. For more information, visit

About Online Tech

Online Tech is the leader in secure, compliant hybrid cloud, colocation, disaster recovery and data protection services. Their industry-leading portal, OTPortal™, enables clients to view and manage all of their IT systems in a single pane of glass. Backed by independent HIPAA, PCI, SSAE 18, EU-US Privacy Shield and SOC 2 audits Online Tech delivers exceptional experiences for businesses seeking a fully managed IT-as-a-service provider. For more information, call 877-740-5028 email or visit

About Moorgate Capital Partners, LLC

Moorgate Capital Partners is an independent merchant banking and advisory firm that looks to partner with industry leading executives and management teams to source and acquire middle market growth companies in the technology, media, and communications industries. Additionally, Moorgate provides independent, trusted advisory services and outsourced corporate development to a focused group of clients. Moorgate has offices in New York City and San Francisco. For more information, visit

ITC Service Group Acquires Clear Cell Management, Inc.

Adds Wireless Division to Broadband Installation, Design and Staffing Services

CITRUS HEIGHTS, Calif., Feb. 13, 2017 /PRNewswire/ -- ITC Service Group ("ITC"), a leading provider of broadband installation, planning, design and staffing solutions to the telecommunications and IT industries, today announced the acquisition of substantially all of the assets of Clear Cell Management, Inc. ("CCM").

The acquisition of CCM allows ITC to become a turnkey provider of services to the wireless telecommunications industry. CCM, with offices in the New York, New Jersey and California, adds new service lines, clients and markets to ITC's rapidly expanding platform of services and locations around the country.

"I am pleased to announce this strategic acquisition," said Tim Sauer, ITC's President. "ITC has an ongoing growth strategy, and this acquisition is an important part of that plan. CCM is an outstanding addition to the ITC family. In addition to the business they bring to our portfolio, this acquisition allows us to offer the full array of wireless services to ITC's existing telecommunications clients. Rob Bradley, CCM's Chief Executive Officer will serve as Senior Vice President of ITC's Wireless Division, and he brings with him a very talented team of committed professionals. With the upcoming roll out of 5G wireless networks nationwide, ITC is perfectly positioned to support these projects on a large scale, providing both fiber and wireless solutions. I have enjoyed getting to know the entire CCM team, and I look forward to the synergies we will create for our clients in the wireless sector."

"I am excited about this transaction," added Rob Bradley. "As an integral part of the ITC family, we will continue to provide excellent service and support to our wireless clients. With the financial strength and support of ITC, and its owner Moorgate Capital Partners, our combined team will provide even more value to our wireless clients and, at the same time, drive significant expansion of new markets and services. We will be able to strengthen our subcontractor and vendor relationships and also provide employees with more opportunity. I could not be more impressed with the ITC and Moorgate teams, and the emphasis they have placed on our clients and employees throughout the integration process. Our current team will remain in place to ensure a seamless transition for our clients and stakeholders."

About ITC Service Group

ITC, with headquarters near Sacramento, CA, provides technical staff augmentation, OSP / ISP design and broadband installation service solutions for the planning / design, construction management, installation / maintenance of voice, data and video networks, nationwide. ITC has offices in the west and midwest and now, with the acquisition of CCM, in the northeast as well. ITC employees more than 700 people nationwide.

About Moorgate Capital Partners

Moorgate Capital Partners is an independent merchant bank and advisory firm focused on the technology, media, and communications industries. Moorgate partners with industry leading executives and management teams to source and invest in middle market growth opportunities.  Moorgate has offices in New York, NY and San Francisco, CA.

About CCM

CCM is a provider of outsourced services for the wireless communications industry, including planning, deployment, construction and management of network build-outs. CCM provides wireless carriers with comprehensive real estate site acquisition and zoning services, radio frequency and network design and engineering, infrastructure equipment construction and installation, maintenance, DAS and in-building services, small cell deployment, radio transmission base station modification and project management services.


ITC Service Group
Corporate Office
7777 Greenback Lane, Suite 201
Citrus Heights, CA 95610
Phone: (877) 370-4482
Fax: (877) 360-4482

Moorgate Capital Partners Acquires ITC Service Group, Inc.

CITRUS HEIGHTS, Calif. and NEW YORK, June 6, 2016 /PRNewswire/ -- Moorgate Capital Partners, LLC ("Moorgate"), a middle market merchant bank focused on the technology, media, and communications industries, is pleased to announce that an affiliate has partnered with management to acquire substantially all of the assets of ITC Service Group, Inc. ("ITC") from its founding shareholders.

ITC is a leading provider of planning, design, installation and maintenance services to the telecommunications and IT industries.  Most recently, the company has been focused on designing, installing, maintaining and providing operational management services for fiber–to-the-home networks, an area that is expected to grow dramatically over the next several years as major industry participants deploy significant capital to build and upgrade networks.  ITC currently employs approximately 700 people across the United States.

Tim Sauer, ITC's founder, who will remain an owner and the President of ITC, said "We are excited to partner with Moorgate and leverage their financial and industry expertise in order to accelerate the growth of the company."

"ITC has a strong heritage in the telecommunications industry.  With a reputation for quality and innovation, ITC has become a leading service provider to a number of major fiber-to-the-home and broadband operators," commented Michael Alexander, Partner at Moorgate.  "We are delighted to be partnering with ITC's experienced management team and look forward to working together to strengthen the company's position in this rapidly evolving industry."

Debt financing for the transaction was provided by Credit Suisse Park View BDC, Inc., QS Capital Strategies L.P. (Quilvest), and California Bank & Trust.

Wollmuth Maher & Deutsch LLP and Davis Polk & Wardwell LLP acted as legal advisors to Moorgate in connection with the transaction.  The Independence Group acted as financial advisor and Meissner Joseph & Palley, Inc. acted as legal advisor to ITC.

About ITC Service Group

ITC Service Group provides broadband installation, design, and staffing services to the telecommunications and IT industries.  ITC is headquartered in Citrus Heights, CA. For more information, visit 

About Moorgate Capital Partners

Moorgate Capital Partners is an independent merchant bank and advisory firm focused on the technology, media, and communications industries.  Moorgate partners with industry leading executives and management teams to source and invest in middle market growth opportunities. Moorgate has offices in New York, NY and San Francisco, CA.


Wellesley, MA --, the technology leader in employee compensation data, software and services, today announced that it has been acquired from IBM by its founding team. Under the leadership of the returning management team, Salary will deliver next generation analytical tools that further enable companies to manage their compensation expenditures as well as provide the market at large with the most accurate, objective information related to employee compensation.

"Compensation is complex, and for today's employers to be successful, they need the tools and data that enable them to simplify the connections between people and pay," said Kent Plunkett, CEO of "Salary is the most widely recognized and trusted source for employer-reported compensation data to facilitate decision-making around employee compensation. On behalf of the founding team, we are thrilled to provide our customers with the high-touch service and expertise that they expect in the compensation space."

Founded in 1999, grew rapidly to become one of the most widely recognized sources for reliable information about employee-reported pay levels and compensation-related best practices, trends and policies. Following its move to IPO in 2007, was acquired by Kenexa in 2010, and IBM acquired Kenexa in 2012. The original team, in partnership with co-investors H.I.G. Capital and Prudential Capital Group, have reacquired from IBM, along with related compensation offerings. The returning team has the goal of enhancing the company's current product offerings and creating additional solutions that help consumers and customers make well-informed, data-based compensation decisions.

Moorgate Securities LLC acted as financial advisor to the founding management team in connection with the transaction.  For additional information on this transaction, please see the company's press release.