Avathon Capital Completes Acquisition of OculusIT, Enhancing Higher Education IT Services

Avathon Capital Strengthens Its Portfolio with OculusIT Acquisition

In a significant move to enhance its offerings in the higher education sector, Avathon Capital, a private equity firm with a specialized focus on lower middle-market companies, has announced the acquisition of OculusIT. This acquisition, which took place on April 28, 2025, marks an important milestone for Avathon as it seeks to solidify its presence in the mission-critical IT services space for educational institutions across the United States.

Founded in 2018, OculusIT has established itself as a trusted partner for over 200 colleges and universities. The company provides a diverse range of services designed to meet the complex technological needs of higher education institutions. These services include managed enterprise resource planning, cloud computing solutions, cybersecurity fortifications, infrastructure management, and round-the-clock support.

The integration of OculusIT is seen as a strategic fit within Avathon's portfolio and is intended to drive growth and support institutions striving to navigate the increasing operational complexities they face today.

Shoshana Vernick, the Managing Partner at Avathon, expressed her excitement about the acquisition by stating, "We are excited to welcome OculusIT into the Avathon portfolio. The company's ability to deliver high-ROI, essential technology services makes it an important partner to institutions facing a multitude of complex challenges."

Anjli Jain, General Partner of ElevenX Capital, the previous owner of OculusIT, remarked on the successful growth of OculusIT and the value it has delivered to the higher education sector. Jain stated, "This exit underscores our commitment to building and investing in companies that drive innovation and deliver exceptional service to customers."

Under the continued leadership of CEO Joe Redwine, OculusIT is poised for further growth. Redwine articulated a vision for the future, emphasizing the importance of this partnership, stating, "This partnership allows us to grow with purpose. With Avathon's support, we can extend our reach, invest in innovation, and serve our clients with even greater scale and sophistication."

To facilitate this growth, Avathon has assembled an experienced leadership and advisory team, including Paul Skordilis, who will serve as the Chairman of the Board. Skordilis brings a wealth of knowledge in global IT services combined with a deep understanding of the education sector. Other notable appointments include Lynnet Conley as Interim CFO and Abhijeet Chimade as Chief Operating Officer, both of whom have extensive backgrounds in scaling operations in technology firms.

Nishaad Balachandran, a Principal at Avathon, commented on the expansive opportunities available in the higher education IT services market. "We see a clear opportunity to build a market-leading platform in higher education IT services, where institutions face urgent and growing needs around infrastructure, security, and talent," he stated.

This landmark acquisition represents Avathon's sixteenth platform investment, highlighting the firm’s strategy to create a robust presence in the education sector. As the firm continues to develop its portfolio, it aims to drive substantial growth and innovation within the institutions they support. BakerHostetler served as the legal advisor to Avathon throughout the acquisition, while Tyton Partners acted as the exclusive financial advisor to ElevenX Capital.

As Avathon Capital sets forth with this acquisition of OculusIT, the combined experience, dedication, and strategic direction of both firms stand to make a significant impact on higher education technology services, paving the way for enhanced operational efficiency and improved student experiences across the United States. For further information regarding this acquisition or to learn more about Avathon Capital and OculusIT, please visit their respective websites.