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Virtual assistant company Zirtual has been acquired by PennSpring Capital of Lancaster. PHOTO/GETTY IMAGES
Lancaster firm acquires virtual assistance company
Listen to this articlePennSpring Capital of Lancaster has acquired Zirtual, a Columbus, Ohio-based company that provides virtual assistant services to entrepreneurs, professionals, and small corporate teams.
Operating as an investment firm, PennSpring invests in and manages private equity and venture capital funds. PennSpring focuses on lower middle market opportunities, investing in firms and helping evolve them.
PennSpring Managing Partner Lou Castelli called the company’s acquisition of Zirtual an “evolutionary leap” for the firm.
“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,” Castelli said in a statement. “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.”
According to its site, Zirtual’s services include creating filters and rules to organize email, scheduling, organizing travel plans, research, managing expenses, and scheduling personal appointments. The company was founded in 2011 by Maren Kate Donovan and was owned by Startups.com.
Having used Zirtual for administrative purposes, PennSpring will relocate the company’s headquarters to Lancaster. Most of Zirtual’s nearly 200 employees will serve as virtual assistants and work remotely.
The Zirtual acquisition is complementary to a current holding – text marketing platform Mobiniti. The acquisition is also consistent with PennSpring’s business process outsourcing investment thesis.
