Vology co-founder Barry Shevlin has stepped down as the Pinellas County information technology company’s CEO to begin a new career as a tech company adviser with a local equity firm.
Shevlin will stay at Vology — a homegrown IT company specializing as a security and cloud provider — for at least the next year in an advisement role. He is now at Tampa’s Skyway Capital Markets to spearhead the investment firm’s work with technology companies.
“After 20 years, I thought it was best to turn the page,” Shevlin said.
Vology, a Clearwater company, manages 260,000 devices for more than 30,000 customers. It’s among the largest managed service providers in the country.
Last year, Vology underwent a private equity transaction with North Carolina investment firm Capitala Group — a $3 billion asset management firm that invests in lower and traditional middle market businesses.
Capitala invested in another IT outsourcing company, Source Support Services. One of Source Support’s board members, Tom York, is Vology’s new CEO. York previously worked at IBM for 31 years.
“I’ve been working with him for the last three months,” Shevlin said. “And I’ll be here to help him with anything for at least the next year.”
Shevlin said the deal with Capitala — for which details were not disclosed — strengthened and simplified the company’s balance sheet.
In 2016, Vology moved from Oldsmar to a 60,000-square-foot space in the Bay Vista Office Park, the Largo office complex that’s also home to Tech Data. The company, founded in 2001, started in hardware sales before growing into a leading managed IT provider. In 2013, it merged with Tampa company Bayshore Technologies.
Under Shevlin’s leadership, Vology has regularly made the Tampa Bay Times top workplaces lists and consistently made the Inc. 500/5000 lists of fastest-growing private companies.
“Vology has made an amazing transformation over the last five years,” Shevlin said, “and it’s really well positioned moving forward.”