MSSP Acquisition: Westerworld Global Acquires NSTAR Global Services
Managed service solutions provider Westerwood Global has acquired NSTAR Global Services, which provides asset relocation, facility and equipment services, and workforce management solutions. Financial terms of the deal were not disclosed.
This is technology M&A deal number 28 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Westerwood Global, founded in 2000, is based in Kildare, Ireland. The company has 297 employees listed on LinkedIn. Westerwood’s areas of expertise include equipment expertise, managed services, recruitment, project management, semiconductor equipment maintenance, high volume manufacturing operations, cleanroom consumables management and fab startup and decommissioning.
NSTAR, founded in 2001, is based in Garner, North Carolina. The company has 185 employees listed on LinkedIn. NSTAR’s areas of expertise include semiconductor, solar, decommissions, troubleshooting, maintenance and repair, engineering, direct hire, asset relocation, equipment services and facility services.
The combined companies plan to leverage their strengths to become the “leading asset lifecycle management and workforce solutions partner to the semiconductor and related high technology industries,” they said in a prepared statement.
Meeting Growing Talent Demand
Workforce development and managed service solutions are rapidly becoming vital elements in meeting the growing talent shortage, particularly in high-tech industries like semiconductors, according to Westerwood.
Still, rising interest rates, high inflation, lower consumer confidence, and tech-led stock market retreats have led to a dramatic loss in market capitalization, according to Deloitte. The top 10 global chip companies’ combined market cap was down 34% from US$2.9 trillion in November 2021 to US$1.9 trillion in November 2022, according to the report.
But Westerwood is betting on continued growth for the sector, and one of the keys to achieving optimal success is a well-trained and qualified workforce, the company says. From fully managed technical services to direct hire, the newly combined company will have a wider range of offerings to meet customers’ lifecycle and workforce challenges.
Westerwood Acquires NSTAR: Executive Insight
Nigel Wenden, CEO, Westerwood Global, commented:
“The collective semiconductor industry expertise, breadth of capabilities, and customer centric culture at NSTAR is a perfect complement to our own here at Westerwood Global. We are constantly evaluating our workforce development capabilities and how we can innovate, adapt, and evolve to provide value-added solutions to the market. As we look to the future, it’s clear that a combined Westerwood and NSTAR team can help us achieve our vision. Together, we will leverage our strengths to provide more comprehensive solutions and deliver what our customers need when they need it most.
“Westerwood’s focus on quality, commitment to safety, respect for people, and dedication to customer support, are the core values that align perfectly with NSTAR’s. We look forward to welcoming them in the coming weeks as we transition to this next chapter together.”
Darrell McDaniel, president and CEO, NSTAR, said:
“Joining Westerwood Global provides NSTAR with an expanded product portfolio and added levels of workforce talent, creating a unique opportunity to take the combined business to the next level. Westerwood’s experience and expertise in managed workforce solutions and its broad geographic reach will allow us to immediately grow and enhance our capabilities, while maintaining the high-quality service our customers have come to know us for. It’s an exciting milestone in the NSTAR journey and we look forward to what the future holds.”