PE-backed RIA IT firms merge

RightSize Solutions and True North Networks are combining to form Visory.
Private equity-backed RIA information technology providers RightSize Solutions and True North Networks are joining forces.

Lenexa, Kan.-based RightSize Solutions and Swanzey, N.H.-based True North Networks have merged under the new brand name of Visory. The two companies are both backed by private equity firm Bluff Point Associates.

Financial terms of the transaction were not disclosed.

‘Our mission is to unlock the value of innovative technology for our clients,’ Visory chief executive Bob Hollander told Citywire. ‘By coming together, we’re a more powerful company. This grants us certain synergies as we go to market.’

Hollander most recently served as chief executive of RightSize through an umbrella company, Hosting Enterprises. Hosting Enterprises changed its name to Visory two months prior to the transaction.

‘We have the breadth and depth of resources to meet the demands of the market and lead the market with technology and capabilities that smaller IT firms can’t provide,’ said Wes Stillman, who will serve as Visory’s chief technology officer. Stillman founded RightSize in 2002. ‘We’ve created this powerful juggernaut in the industry. We can afford to bring this technology down to small business units like RIAs.’

The combined company will offer cybersecurity and cloud hosting services that would otherwise be cost-prohibitive to small and medium-sized RIAs, Stillman said.

‘What makes this so unique is that both firms were focused on the RIA industry for twenty years,’ Stillman said. ‘Understanding the industry today allows us to bring services that are really meaningful.’

Hollander also helms Swizznet, a Bluff Point-backed cloud hosting provider for accounting and construction firms which acquired RightSize in 2020 and kept its brand name alive. Swizznet will continue to operate under its existing brand name, Visory said.

Visory will operate out of Swizznet’s Chesterfield, Mo. headquarters.