/C O R R E C T I O N -- MGT/
/C O R R E C T I O N -- MGT/ |
| [08-December-2025] |
/C O R R E C T I O N – MGT/ In the news release, MGT and Ares Management Combine Forces to Create First Unicorn in SLED Services Industry, issued 03-Dec-2025 by MGT over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end: MGT Receives Strategic Investment from Ares Management Resulting in First Unicorn in SLED Services IndustryTAMPA, Fla., Dec. 3, 2025 /PRNewswire/ -- MGT (the "Company"), a national technology and advisory solutions leader serving state, local, and education (SLED) government clients, announced it has closed a $350 million investment from Ares Credit funds, valuing the Company at $1.25 billion. Ares Management, a leading global alternative investment manager with over $595 billion in assets under management as of September 30, 2025, joins existing MGT backers The Vistria Group, J.P. Morgan, and WhiteHorse Capital. "We believe this investment validates both our strategy and our commitment to building the category-of-one social impact and performance leader in SLED," said Trey Traviesa, chief executive officer of MGT. "With Ares' support, we significantly expand our capacity to undertake larger acquisitions and accelerate the high-impact growth and transformation we set out to achieve in our ambitious value-creation plan." "We are excited to provide strategic capital to MGT as it seeks to advance its impressive growth trajectory," said Craig Snyder, Co-Head of Opportunistic Credit at Ares Management. "MGT's demonstrated sector leadership, robust M&A pipeline and history of successful integrations reinforce our conviction in its long-term value potential. We look forward to working with Trey, Vistria and MGT's other investors as the Company continues to enhance its differentiated position in the SLED services industry and deliver benefits to its clients, communities and other stakeholders." MGT is midway through a four-year value-creation plan following Vistria's majority investment in April 2023. Since then, the Company has tripled in enterprise value with rapid growth driven by its programmatic M&A strategy, strong organic growth, and ambitious business transformation execution. Steeped in SLED domain expertise, MGT's 1,100+ employee-owners now serve over 2,500 clients, impacting over 200 million people annually, including 20 million K12 students. The Company's broad portfolio of specialized technology and advisory solutions addresses mission-critical priorities – including technology modernization and AI, cyber and campus security, human capital, fiscal and facilities management, and K12 school improvement – for state and local government agencies, K12 districts, and higher education institutions across the U.S. Founded in 1975, MGT has expanded rapidly under new leadership since 2016, through a combination of organic growth and 13 strategic acquisitions. In 2025, MGT ranked No. 830 on the Inc. 5000, recognizing the nation's fastest-growing private companies, and No. 6 on CRN's Fast Growth 150 list, honoring the fastest-growing technology companies in North America. For more information on MGT, visit mgt.us or download the Annual Impact Report at mgt.us/2024_impact_report. About The Vistria Group About Ares Management Corporation Media Contact: Correction: Changes have been made all throughout the release.
SOURCE MGT | ||
Company Codes: NYSE:ARES |
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