Global Capital Markets Advises Top-Rated Provider of Subscription-Based Virtual Assistant Services Company in its Acquisition by PennSpring Capital

Global Capital Markets, Inc. (“Global Capital”) is pleased to announce that PennSpring Capital (“PennSpring”) has acquired Zirtual (“Zirtual” or “Company”) from Startups.com.

Zirtual is a provider of virtual assistant services. All virtual assistants are US-based with college degrees, and perform tasks such as inbox and calendar management, social media strategy, data entry, expense management and invoicing, research, event planning, travel booking and more. Zirtual was named to the exclusive U.S. News & World Report “Best Virtual Assistant Services of 2023” list and was selected as the “Best for Bookkeeping and Financial Management.”

PennSpring Capital unlocks liquidity and empowers growth. Based in Lancaster, Pennsylvania, PennSpring is a people-forward investment firm focused on lower middle market opportunities, investing in dynamic firms and helping evolve them to institutional scale.

The Zirtual acquisition is consistent with PennSpring’s business process outsourcing (BPO) investment thesis, and complementary to a current holding – text marketing platform Mobiniti, which provides customer engagement solutions to more than 1,000 organizations across all industries and sizes. PennSpring previously completed the sale of its holding Securus Contact Systems, a national provider of virtual receptionist services.

The terms of the transaction have not been disclosed.

"The Zirtual acquisition is an evolutionary leap for PennSpring Capital. We have garnered acclaim and established a strong track record in the lower middle market; the Zirtual brand now elevates our profile to a new level. They significantly rank among the top search results for virtual assistants and have attracted over 30,000 LinkedIn followers. With Zirtual's visibility and our resources to quickly close, we are well-positioned to make additional acquisitions in the space."

Lou Castelli, PennSpring Managing Partner

Global Capital remains active in the Technology / Tech-Enabled B2B Service Verticals where there continues to be substantial capital looking for outstanding companies. We welcome your input on transaction dynamics in general as well as specific opportunities in particular.

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Shawn Flynn is a Principal at Global Capital Markets, a premier middle-market investment bank with a global presence. Shawn has expertise in mergers and acquisitions, capital markets, financial restructuring, and secondaries. He speaks Mandarin and is the host of the award-winning Podcast The Silicon Valley Podcast.

Shawn Flynn, Principal

SF@GlobalCapitalMarkets.com

Tel: (415) 578-1445 Ext. 4

About Global Capital

As a middle market investment banking boutique, Global Capital provides mergers and acquisition advisory services, access to corporate debt and equity capital, and strategic advisory services to successful middle market companies. For over twenty five years, our team has offered companies a unique blend of sophisticated financial expertise and access to the global marketplace of buyers, sellers and financiers.

Securities offered through GCMI Securities Corp., member FINRA and SIPC, and a subsidiary of Global Capital Markets. Please reference GCMI Securities Corp. and its team at BrokerCheck.FINRA.org

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