LightBay Capital LLC on Wednesday, June 24, announced a partnership with IT managed services provider Centre Technologies Inc.

LightBay didn’t reveal the financial details of the transaction. The investment provides Houston-based Centre with capital and resources to expand geographically; broaden its service offerings; strengthen its artificial intelligence, cloud and cybersecurity capabilities; and pursue acquisitions in the managed services market.

The Deal reported in December that Centre Technologies and backer Main Street Capital Corp. (MAIN) had retained Guggenheim Securities LLC to explore a sale. One of the sources put Ebitda at $30 million.

Founded in 2006, Centre is a full-service IT services provider, which delivers managed IT support, cloud computing and cybersecurity services tailored primarily for small and midsize businesses.

Los Angeles-based LightBay Capital invests $100 million to more than $300 million in equity in middle market companies in the business services, healthcare and consumer industries. The firm closed LightBay Investment Partners II LP with total capital commitments of $1.04 billion in 2023.

In July, Techy Co. acquired NerdsToGo, an IT support franchise operator, from LightBay and Freeman Spogli & Co. for an undisclosed amount. In October 2020, Freeman Spogli and LightBay portfolio company Fastsigns International Inc. purchased NerdsToGo’s parent company, GTN Capital Group LLC, for an undisclosed amount.

In June 2021, Propelled Brands, backed by Freeman Spogli and LightBay, acquired Suite Management Franchising LLC for an undisclosed amount.

Centre tapped Guggenheim Securities as financial adviser and Greg Heath, Rachel Fitzgerald, Shannon Schroeder and Jason McCloskey of Troutman Pepper Locke LLP as counsel.

LightBay relied on Anthony Basmajian and R.B. McCutcheon of Houlihan Lokey Capital Inc. for financial advice and on Timothy A. Castelli, Andrew T. Pomranke and Gregory A. Bauer of Ropes & Gray LLP for counsel, while managing director Abhishek Rampuria and partner David Burcham worked on the deal in-house.