Two years after welcoming Bedford-based technology leader SiteVentures to its growing family of companies, R.J. Finlay & Co. has sold the IT firm back to founder Richard Hillard Jr., hailing the work the companies accomplished together as each now focuses on advancing its core mission.
R.J. Finlay & Co., a longtime client of SiteVentures, acquired the company in January 2010 in a bid both to bolster the infrastructure of the real estate interest’s rapidly expanding portfolio and to provide added stability to SiteVentures in the midst of the nation’s economic struggles. As hoped for, the partnership produced a dramatic upgrade in R.J. Finlay & Co.’s high-tech capabilities, while giving SiteVentures the platform and security to reposition itself and to boost its client base and revenue stream.
“SiteVentures has been a longtime vendor and friend to R.J. Finlay & Co., and we were glad to have built a relationship that assisted both of our companies to grow and thrive in a challenging economy,” R.J. Finlay & Co. CEO Robert Finlay said. “This sale is in many ways bittersweet. We are sad to see SiteVentures go, to be sure, but happy for Rich that he has been able to buy his company back and return it to its entrepreneurial roots.”
The sale of SiteVentures back to Hillard, who launched the company in 1998, was finalized on March 30. Since its founding, the company has led by continually developing its own technology and partnering with industry telecommunications leaders to help clients reduce operating expenses, increase business efficiencies, and maintain flexible, reliable and secure IT platforms.
“We are forever grateful to R.J. Finlay & Co. for the business and support they provided in a difficult economic time,” Hillard said. “We look forward to maintaining this important relationship well into the future, building on the success we’ve seen, and continuing to generate and tailor cutting-edge new solutions for our clients.”
R.J. Finlay & Co. is a New Hampshire-based holding company of diverse businesses and investments with a central focus on real estate. For more information, please visit www.rjfinlay.com.