Cypress PortCo Greystone Technology Acquired by New Charter Technologies

Colorado Company to Continue to Operate Independently

Greystone Technology, a Cypress Growth Capital portfolio company since 2016, recently announced its acquisition by New Charter Technologies, a portfolio company of Palo Alto-based private equity firm Oval Partners. Greystone is the premier IT services provider in the Rocky Mountain. With 17 consecutive years of growth and a unique focus on people development, Greystone has been named one of the Inc. 5000 fastest growing companies in America six times and a Denver Post Top Workplace five times.

The company will continue to operate independently with Greystone owners, Peter Melby and Jesse Armstrong, remaining in their positions. Both now join the New Charter Technologies ownership group.

"In 2016 we partnered with Cypress Growth Capital to accelerate our operational maturity," said Peter Melby, Greystone Co-founder and CEO. "The results have been clearly visible to Greystone's employees and clients as we've built out more sophisticated capabilities, deeper employment culture, and added support teams to reinforce our personalized services. We will be forever thankful to Ed Mello, Bart Goodwin, and the Cypress team for their faith and guidance in taking these next steps with New Charter."

Over the past decade, Cypress Growth Capital has invested in 38 software and tech-enabled services companies, including a dozen in Colorado. Like Greystone Technology, more than 80% of the companies with whom we partner go on to achieve a strategic acquisition or a subsequent growth equity raise / recapitalization.