Generational Group Advises BAI Security, Inc. in its sale to Cyber Advisors, a portfolio company of Goldner Hawn

By Generational Group

08/05/2024

Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of its client, BAI Security, Inc., to Cyber Advisors, a portfolio company of Goldner Hawn. The acquisition closed July 10, 2024.

Headquartered in Lincolnshire, Illinois, BAI Security, Inc. is a nationally recognized IT security assessment firm specializing in comprehensive yet affordable security solutions for highly regulated industries, such as bank and finance, healthcare, energy, manufacturing, and more. Their services include IT security assessments, compliance audits, red teams, network vulnerability assessments, tabletop exercises, and ransomware simulations.

Since their founding in 2007, BAI Security has built a national reputation for their highly qualified in-house experts, who use best-in-class tools and provide customized recommendations to enhance the security posture of clients across the U.S. They have earned numerous awards for their innovative and rigorous approach to cybersecurity.

BAI Security’s co-owners, Founder/CEO Michael Bruck and Chief Strategy Officer Dr. Michele Bruck, are retaining minority ownership in their new parent company and will serve as Strategic Advisors.

Cyber Advisors, a portfolio company of Goldner Hawn based in Maple Grove, Minnesota, a northwestern suburb of Minneapolis, has been a leading IT solution provider since 1997. They offer a range of services including managed IT services, IT security solutions, and digital transformation.

Incorporated in 2001 by Shane Vinup and Igor Bogachev, Cyber Advisors is dedicated to reducing network-related downtime, ensuring data security, and optimizing IT costs for businesses. With a focus on growth, integrity, and talent, Cyber Advisors is a trusted partner for innovative and tailored IT solutions.

Goldner Hawn is a private equity investment firm established in 1989, focusing on the lower middle market. Goldner Hawn works closely with management teams to create and execute shared visions, driving sustainable growth and value. With a seasoned team and decades of experience across various sectors, they aim to build market-leading companies that thrive beyond their investment horizon. This initiative is led by Andrew Tomashek.

The partnership of BAI Security and Cyber Advisors combines top-tier IT security assessments with expert managed IT services, creating a powerful synergy. This union enhances their capabilities to offer comprehensive, secure, and efficient IT solutions, addressing the increasing demands of highly regulated industries. The combined strengths will drive innovation, improve network security, and optimize IT infrastructure, providing clients with unparalleled end-to-end service.

Generational Group Executive Managing Director of M&A – Central Region, Michael Goss and his team, led by Generational Group Affiliate, Prasad Karcherla, with the support of Vice President, M&A, Madison Buckley, closed the deal. Senior Managing Director, Brian Hendershot and Senior M&A Advisor, Bryce Gray, established the initial relationship with BAI Security, Inc.

From Ryan Binkley, CEO of Generational Group: “The alliance between BAI Security and Cyber Advisors brings together leading IT security assessments with specialized managed IT services, creating a strong and effective partnership. At Generational Group, we take pride in facilitating strategic partnerships that drive growth and enhance service offerings for our clients.”