TRUE NORTH NETWORKS ACQUIRED BY PRIVATE EQUITY FIRM

Bluff Point Associates, a Westport, Conn.-based private equity firm, has acquired True North Networks, a Swanzey, NH-based financial technology company.

Terms of the transaction, which closed March 12, were not disclosed.

True North provides private cloud hosting and cybersecurity services for registered investment advisors and other financial services firms.

Steven Ryder, True North’s president, will continue in his current role, and the company will remain at its New Hampshire headquarters, according to a press release.

Founded by Ryder in 2002, True North is an employee-owned firm, which, according to its release, meant that all of its employees benefited from the acquisition.

MANCHESTER’S FORCIVITY MERGES WITH NEW YORK FIRM

Manchester-based Forcivity, one of the fastest-growing private companies in the U.S. in 2020, has announced plans to merge with Jolt Consulting Group of Saratoga Springs, N.Y.

Forcivity is a Salesforce consultancy and system integrator that was named to the 157th spot on Inc. magazine’s 2020 list of the 5,000 fastest-growing private companies. Jolt, also a Salesforce partner, is a technology and business consulting company. The deal will result in a firm that’s double in size.

Jeff Oskin, founder and CEO of Jolt, has been named CEO of the new firm — which will retain the Forcivity name — and Steve Baines, founder and CEO of Forcivity, will be president and chief growth officer.

The merger is expected to formally close within the next month, and the offices in Manchester and Saratoga Springs will be maintained.

The combined companies will have 24 certified Salesforce, ServiceMax, IFS and Azure professionals holding more than 95 certifications, including Baines as a Certified Technical Architect, the highest certification achievement at Salesforce.

COLLIA TO STEP DOWN AS NORTHEAST CREDIT UNION CEO

After nearly 19 years with Northeast Credit Union and its predecessor Woodlands Credit Union, Timothy J. Collia has announced plans to retire as president and CEO.

Collia, who will officially retire this summer, spent 10 years at the top of Woodlands and the last seven years in the same capacity, leading Northeast Credit Union.

Since 2014, Northeast Credit Union has expanded its branch network from 14 to 19 locations, completed a merger with Ocean Communities Federal Credit Union — which expanded the organization’s footprint into Maine, increased assets from $1 billion to more than $1.8 billion, and grew the membership from 101,000 to over 139,000.

A successor has not yet been announced.

The credit union’s board has hired D. Hilton Associates Inc. to manage the recruitment process.