Brightworks IT, backed by personal fairness agency Cloud Equity Group (CEG), has acquired IS Concepts, a managed IT companies supplier (MSP) in California. Financial phrases of the deal weren’t disclosed.
This is know-how M&A deal quantity 915 that ChannelE2E has coated up to now in 2022.
Private Equity Plans Nationwide MSP Ecosystem
Brightworks IT is a community of MSPs that share assets, greatest practices and experience. The ecosystem consists of:
The newest addition to the ecosystem, IS Concepts, is predicated in West Covina, California.
In a ready assertion concerning the deal, Cloud Equity Group Managing Partner Sean Frank mentioned:
“The acquisition of IS Concepts continues Cloud Equity Group’s technique of consolidating the fragmented IT companies business. IS Concepts including a brand new geographical footprint to Brightworks IT’s already sturdy crew and can enable the corporate to additional assist its prospects of their IT initiatives.”
Added Lawrence Robledo, CEO of IS Concepts:
“We right here at IS Concepts are very excited to be working with the crew at Cloud Equity Group. In the quick time that we’ve been working with the crew, we’ve been very impressed with their consideration to element and their huge information of offering managed companies.”
Concluded Damen Seminero, COO of Brightworks IT:
“We are excited to welcome IS Concepts’ crew and prospects to Brightworks IT. The mixture of our firms and pooled assets will propel us into the forefront of being a top-tier nationwide managed service supplier with first-class managed IT companies.”
Cloud Equity Group’s First Exit
Cloud Equity Group, based in 2013, is an asset administration agency that invests in lower-middle market development know-how firms.
Cloud Equity Group in October 2022 additionally accomplished its first exit — promoting internet hosting supplier VPS Network Group to Homepage Universe Inc