Alta Equity Partners Acquires Leading Philanthropic Solutions Provider Truist, Inc.
Alta Equity Partners announces today the acquisition of Truist, a leading software and service provider of corporate philanthropic solutions. With new growth capital, the acquisition accelerates the advancement of Truist’s technology to strengthen its market leadership position through continued development of a powerful and comprehensive philanthropic solution to current and new clients.
Truist provides a full suite of PCI Compliant solutions for workplace giving to a network of 25 million users that include campaign management, gift matching, volunteer recruitment and tracking, in-house vetting and distribution services with one of the nation’s largest charity databases, philanthropic consulting and an unmatched funds processing and distribution service that is not outsourced. Truist annually operates more corporate philanthropy campaigns than its nearest competitor and has successfully engaged over 7million donors to raise over $2.24 billion dollars and 984,417 volunteers with over 30,140,053 contributed hours valued at $657 million.
“The transaction offers significant value and exciting new opportunities for Truist’s customers, employees, and our new owner. With a new investor and unmatched distribution, we will continue to focus on our customers and supercharge their giving and volunteering campaigns by delivering outstanding and innovative service offerings. The company is energized from this change and at the opportunity to open up our products to nonprofit organizations whose needs we were previously unable to address,” said William B. Horne, President & CEO of Truist.
“The Truist team is passionate about providing best-in-class solutions to the giving community and making sure their clients achieve or exceed their corporate social responsibility and philanthropic goals. We are big believers in the corporate social responsibility sector and are very excited to have the opportunity to invest in a clear leader and look forward to fortifying their position with growth capital to fuel new and innovative services that meet the needs of the marker,” said Alta’s Tim Dibble.
Truist will continue to operate from Washington D.C. and New York, NY under the direction of its current management team.
ThinkEquity served as financial advisor to Alta Equity Partners in this transaction.
Truist, is a leading provider of philanthropic solutions that enable corporations and nonprofit organizations to effectively engage their donors and volunteers with a comprehensive line of products and services. With Truist’s secure and PCI Compliant technology, corporations and nonprofits can manage giving and volunteer campaigns, track donations and volunteer hours, ensure charitable contributions are processed and distributed to vetted charities, and foster relationships with their giving community. Truist also provides consulting services to ensure clients reach their philanthropic goals. For more information, please visit www.truist.com
Alta Equity Partners is a private equity firm broadly focused on making investments in lower middle market companies across a variety of industries who has invested in more than 70 companies during the past 30 years. Within the lower middle market, Alta partners with talented management teams to seek out the most interesting investment opportunities regardless of size, industry segment or investment structure. For more information, please visit www.altaequitypartners.com