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Falcon Advises BTB Security in its Sale to Netrix, a Portfolio Company of OceanSound Partners

WAYNE, PENNSYLVANIA – 12/22/2021: Falcon Capital Partners, LLC (“Falcon”), a leading middle-market investment bank, is pleased to announce the sale of BTB Security (“BTB”) to Netrix, LLC (“Netrix”).

BTB Security, a software enabled provider of IT security and forensic consulting services based out of Bala Cynwyd, PA.. Founded in 2006, BTB provides managed cybersecurity, threat monitoring, incident response, and CISO advisory services to clients across education, financial services, government, healthcare, hospitality, manufacturing, retail, technology, and utilities industries. BTB’s managed detection & response capabilities revolves around three proprietary and revolutionary solutions: RADAR, Minefield, and RIOT Shield.

Netrix is a leading provider of managed and professional IT services, with a core focus on cloud, security, collaboration, information technology service management (ITSM) and application development solutions. Through both proprietary and managed solutions leveraging leading third-party tools, Netrix addresses the most mission-critical IT needs of midsize and enterprise businesses. Netrix has been pursuing an active inorganic growth strategy, focused on add-on acquisitions which add leading edge capabilities, complementary customers, and talented employees to its platform. Over the last decade, Netrix has made 13 acquisitions, with BTB being the first solely focused on cybersecurity solutions.

The acquisition of BTB provides Netrix with state-of-the-art capabilities within managed cybersecurity services, CISO advisory, and proprietary threat detection and forensics software platforms. Alongside BTB’s industry leading information security analysts, Netrix has access to a recognized brand and presence within the north-east. Combined, Netrix and BTB are uniquely positioned to provide superior cybersecurity and threat protection services to hundreds of middle-market corporations. The larger universe of offerings will improve client experience by providing improved, efficient, and integrated solutions.

Falcon served as the exclusive financial advisor to BTB. Falcon’s Managing Director Mark Gaeto writes, “Falcon is extremely honored and proud to have served as an advisor to the BTB’s founders. BTB’s proprietary software and expertise gives Netrix a unique competitive advantage over its peers. In addition, Netrix gains a super savvy and talented management team, and their employees. Finally, we also want to thank the Cozen O’Connor’s deal team lead by Christopher McDemus.” BTB Founder and Managing Partner, Ron Schlecht, Jr. comments, “Going into the process, we wanted to ensure a partner that shared our values of technological innovation, culture and commitment to clients. Falcon played a critical role in finding the right partner and ensuring a very satisfactory outcome all the while helping us navigate the complexities of a transaction involving cutting-edge technological solutions.”

The terms of the transaction were not disclosed. This transaction represents Falcon’s continued expertise in the cybersecurity, GRC, and technology space. The Falcon deal team was led by Managing Director, Mark Gaeto, Vice President, Don Wanner and Senior Associate, Steve Wasylenko. For more information, please contact Mark at mgaeto@falconllc.com, or Don at dwanner@falconllc.com.