Panther Equity Group & Corbel Capital Partners Announce Investment and Partnership With Switchbox, Inc.

COLUMBUS, OH / ACCESSWIRE / November 16, 2023 / Panther Equity Group ("Panther") and Corbel Capital Partners ("Corbel") are pleased to announce an investment and partnership with Switchbox, Inc. ("Switchbox"), a leading digital transformation IT services provider focused on creating custom software solutions for customers in the United States.

Headquartered in Columbus, Ohio, Switchbox is an experienced service provider creating software applications and solutions for medium-sized and enterprise customers within the healthcare, energy, government, retail and related industries. Since its founding in 2003, Switchbox continues to provide best-in-class services by helping its clients solve complex operational problems through software.

Following the close of the investment, founder Joel D. Stephens will continue as a co- owner of Switchbox and serve as the Company's CEO.

"Switchbox is proud to be a creative and trusted technology partner to clients for the past 20 years and we plan to keep that core to our DNA through these next chapters," said Stephens. "We are extremely excited for the partnership with Panther & Corbel as we continue to expand our service offerings to new and existing clients, while maintaining the customer experience our clients know us for."

"Panther and its operating partners are thrilled to work with the team at Switchbox and to support the next chapter ahead," said David Eshaghian, Managing Partner at Panther Equity Group. "Switchbox is an extremely capable and nimble digital transformation & software development company with a deep understanding of the business, operational, and technology needs of its clients. Switchbox is further differentiated by its ‘Discovery' process and team which provide a value-added approach in accomplishing clients' business goals through software-led solutions. Joel and the leadership team at Switchbox have built a first-class operation over the course of the past 20 years and we are delighted to be a part of the future."

"We are proud to be a part of Switchbox's next stage of growth in partnership with Panther and Joel," said Michael Jones, Managing Director at Corbel. "The digital transformation market opportunity is extremely exciting, and we are confident that Switchbox will continue to stay at the forefront."

Greenberg Traurig, LLP served as legal counsel to Panther in the transaction and Lucas, Horsfall, Murphy & Pindroh (LHMP) served as Transaction & Tax advisor to Panther. McGuireWoods LLP served as legal counsel to Corbel in the transaction.

About Switchbox, Inc.

Founded in 2003, Switchbox is a digital transformation and software development company designing technical applications and software solutions for their customers in a handful of industries. Switchbox has a strong track record of helping customers achieve their business goals through technology & software, while helping them operate more efficiently. For more information, please visit www.SwitchboxInc.com

About Panther Equity Group

Panther Equity Group ("Panther") is a private equity firm providing capital, strategic support and resources to healthy & well positioned companies in the lower middle market. Panther makes control equity investments in businesses with $2 million to $12 million in EBITDA and in industries where Panther has operating partners, industry executives and channel partner relationships. For more information, please visit www.PantherEquityGroup.com

Corbel Capital Partners

Corbel Capital Partners is a Los Angeles-based independent investment firm that makes structured debt or equity investments in lower market businesses and partners with management to create value.

Corbel manages approximately $1 billion of institutional capital on behalf of its network of investors. For more information, please visit www.CorbelCap.com

Contact Information

Corbel Capital Investor Relations
investorrelations@corbelcap.com

Panther Equity Group Investor Relations
info@panthereg.com

SOURCE: Switchbox, Inc.