Tortuga Growth Partners-Backed SmarTek21 Completes Strategic Combination with IT Avalon, Expanding Its Global Innovation Capabilities and Clients
Latest transaction with leading technology consultancy comes six months after its first growth combination
NEW YORK, May 29, 2025 /PRNewswire/ -- Tortuga Growth Partners, a private investment firm that builds market leaders through buy-and-build strategies, today announced the strategic combination of SmarTek21, a U.S.-based AI-powered product engineering firm, and IT Avalon, a premier technology consulting firm focused on serving enterprise clients in highly regulated industries such as financial services, healthcare, gaming, and hospitality.
IT Avalon delivers cutting-edge digital engineering and software development solutions to global enterprises. Founded in 2012, the company has grown to over 150 employees across multiple regions. With a 95% client retention rate, IT Avalon has established itself as a trusted partner in modernizing legacy systems and accelerating digital innovation.
This marks SmarTek21's second combination in six months and strengthens its position as a leader in delivering design-led, custom product engineering solutions across complex, regulated industries. Its first combination was with Retro Rabbit, a South Africa-based product design firm specializing in banking and insurance solutions. SmarTek 21 will now operate with over 650 associates globally, evenly distributed across its offices in the United States, India, and South Africa.
The partnership with IT Avalon deepens SmarTek21's capabilities within its core industries of financial services and healthcare. It also provides a strategic entry point into the gaming, travel, and hospitality sectors through IT Avalon's longstanding client relationships and innovation-first delivery model.
"IT Avalon brings our engineering and digital transformation capabilities to the next level," added Al Lalji, Founder and CEO of SmarTek21. "Our clients now have access to additional engineering experts with deep financial services, healthcare, and hospitality expertise. We are excited about our next phase of growth as we welcome the IT Avalon team."
"We are thrilled to partner with the SmarTek21 team and provide end-to-end design-led innovation solutions to our long-term enterprise clients," said Carisa and John Zink, Founders of IT Avalon.
"This partnership strengthens our foothold within our core industries and enables a new industry-focused go-to-market strategy—particularly in financial services and gaming and hospitality," Scott Heath, EVP of US GTM-Strategy and Sales at SmarTek21.
"As a former CIO, I know how essential it is to have trusted, execution-ready partners. This addition brings top-tier technical talent and expands SmarTek 21's bench of consultants within niche and mission-critical areas, giving our clients access to innovative solutions," said Marty DeMonte, Operating Partner at Tortuga Growth Partners.
"We are building a category-defining platform," said Ashray Prasad, Managing Member at Tortuga Growth Partners. "Completing our second add-on combination within six months reflects the momentum behind SmarTek21's growth. We've created a market leader in the design-led custom product engineering segment."
About SmarTek21
Founded in 2006, SmarTek21 is a premier provider of product engineering and enterprise modernization services. With a focus on custom product development, cloud solutions, and data-driven platforms, the firm serves clients across complex industries such as financial services, healthcare and life sciences, telecom and media, travel and hospitality, and high-tech. SmarTek21 is known for its agile, scalable solutions that drive mission-critical business automation. Learn more at www.smartek21.com.
About IT Avalon
IT Avalon is a premier innovation consulting firm focused on delivering modern digital solutions for enterprise clients in the financial services, gaming, and hospitality sectors. The firm is recognized for its expertise in designing, scaling, and optimizing enterprise technology solutions that help clients navigate transformation and accelerate outcomes.
About Tortuga Growth Partners
Based in New York, Tortuga Growth Partners is a private investment firm specializing in creating market leaders through buy-and-build strategies. Tortuga partners with entrepreneurs and operating teams to accelerate growth, drive transformation, and expand market presence. For more information, visit www.tortugagrowthpartners.com.
Media Contact:
Joe LoBello
LoBello Communications
Joe@LoBelloCommunications.com
View original content:SOURCE Tortuga Growth Partners