CVC Capital Partners acquired a majority stake in Vitech Systems Group.

CVC Capital Partners acquired a majority stake in Vitech Systems Group, a leading provider of cloud-based financial administration solutions. Financial terms were not disclosed. Frank Vitiello, Vitech's CEO, said, "This exciting partnership with CVC brings us the capital, market access, international reach and institutional expertise we need in order to maintain our current growth trajectory while we even more aggressively expand and advance our industry-leading offerings. CVC is a premier organization and the investment in Vitech is a great validation of our success to date and of our future plans and prospects. I am excited by what this means for our software, our services, our clients and our employees."