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Iconic IT: Four MSPs Merge to Form Nationwide SMB IT Service Provider

Four MSPs are set to merge on July 1, creating a combined company called Iconic IT, the businesses confirmed today. The managed IT services provider (MSP) apparently plans to pursue All Covered and mindSHIFT, in particular, in terms of SMB reach across the U.S. IT services market.

Interview: Iconic IT CEO Mike Fowler explains the four-way merger in this ChannelE2E discussion.

The four MSPs involved are:

Each MSP is a ConnectWise partner and peer group member, and claims to be a market leader in their particular region. “The combined entity will become an industry leading MSP with a national reach that maintains its local feel,” the companies assert.

Financial terms of the deal were not disclosed.

Iconic IT: National MSP’s Executive Leadership

Iconic IT’s executive team will include:

  • Capstone IT co-CEO Mike Fowler will take on the role of CEO of Iconic IT;
  • Capstone IT co-CEO Sitima Fowler will be the Executive Vice President and General Manager for the Rochester geography;
  • Choose Networks’ CEO, Chris Hoose will be the VP of Communication for Iconic IT, and COO;
  • Nicklas Herrera will become the General Manager of the Wichita geography.
  • Live Consulting’s owners Tony Miller and Nick Nyberg will become the VP of Technology and VP of Revenue respectively.
  • Networking Results’ CEO Jeff Howard will become the VP of Experience.

Iconic IT: Executive and Consulting Perspective

In a prepared statement, Fowler said:

“These companies are run by some pretty sharp people who have built very successful, fast-growing businesses.  We’ve built strong relationships and have enjoyed sharing, coaching and challenging each other for years. Through this merger, we are better able to leverage the resources and talents of these iconic, industry visionaries, along with the teams they lead, to continuously improve our service offering and to accelerate our growth.  We have adopted the phrase ‘Better Together’ as our purpose. It certainly applies to the four companies but also applies to our employees, our customers and our community.”

Iconic IT will be one of the bigger MSPs serving SMB customers in terms of team size and geographic reach, according to a prepared statement from Paul Dippell, CEO of Service Leadership Inc., a consulting firm that benchmarks and assists IT service providers with business strategy.

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6 Comments

Comments

    John Rutkowski:

    The 20 has already exceeded Mindshift and All Covered with geographic scope and end points.

    Joe Panettieri:

    Hey John: Thanks for the note but just to clarify…

    1. Is “The 20” a single, rolled-up MSP?
    2. Or is “The 20” a platform that multiple MSPs plug into?
    3. How are you associated with “The 20”?

    Best,
    -jp

    Jason Nelson:

    I’ve seen someone compare The 20 to a Co-op of sorts. In that vein, is The 20 non-profit? Or is it for-profit? Who owns it, or who directly financially benefits from it’s growth and eventual sale?

    MSPs should ask themselves about the motivations of any vendor that used to be an MSP as well, especially if said MSP has little to no growth. There is an ever growing ‘MSP Industrial Complex’ and it’s full of traps and opportunities. Sadly there are very few industry figures who can claim objectivity and help guide people along. Always grateful for you, Joe!

    Joe Panettieri:

    Jason: Thanks for your readership and the comment. Just to be clear, I have some strong biases about a range of subjects. But I do strive to reveal those biases through the blog format. And constructive criticism, hopefully, keeps me honest.

    All the best,
    -jp

    John Rutkowski:

    Joe,

    The 20 is more of a cooperative. We support common platforms and infrastructure. All on a consumption model.

    I run my own MID based in Newark DE.

    We are for profit, otherwise why be in business. Growth is expensive, this is a long road, but we are building it.

    I’m one of the founding members of The 20 which was started by Tim Conkle, his MID operations is called Roland Technology.

    Joe Panettieri:

    John: Thanks for the context. Feel free to keep sending me The 20 updates: Joe [at] AfterNines [dot] com.
    -jp

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