Citizens Advises Blue Mantis on its Recapitalization by Recognize Partners

PROVIDENCE, RI – Citizens M&A Advisory served as the exclusive financial advisor to Blue Mantis, Inc., a premier IT services provider with deep expertise in managed services, cybersecurity and cloud solutions, on its recapitalization by Recognize Partners.

Headquartered in Portsmouth, New Hampshire, Blue Mantis provides digital technology services and strategic guidance to ensure clients quickly adapt and grow through automation and innovation. The recapitalization will enable Blue Mantis to benefit from increased cybersecurity spending and focus on growing client demand for its expanding portfolio of services

Blue Mantis was previously backed by Abry Partners, a Boston-based private equity firm focused on investing in middle-market companies in the media, information and business services industries. Abry Partners will continue as a minority investor in the company.

Blue Mantis Chief Executive Officer Josh Dinneen said: "Attending the Citizens Engage conference led to an amazing transaction for Blue Mantis, Recognize and Abry. Don and his dedicated team were instrumental in identifying a tremendous opportunity and guiding the process that led to the next leg of our journey. We look forward to furthering our partnership with the Citizens team.”

Citizens Managing Director Don Holbrook said: “Blue Mantis has maintained a strong reputation as a next-gen IT services provider for 30-plus years due to its talented management team and differentiated capabilities. With Recognize, Blue Mantis is primed to unlock significant value in the next chapter of growth.”

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, a subsidiary of Citizens Financial Group (NYSE: CFG).

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $219.9 billion in assets as of June 30, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.