MSP Acquisition: TechMD Buys StoneHill Technical Solutions
TechMD has acquired StoneHill Technical Solutions, a ChannelE2E Top 100 Vertical Market MSP and well-known IT service provider inSouth Orange County, California. The deal further strengthens TechMD’s already strong footprint in Southern California. Financial terms were not disclosed.
TechMD had $6.1 million in revenues in 2015 and a three-year growth rate of 113 percent, according to the Inc. 5000 list (2016 edition). StoneHill, meanwhile, has considerable vertical market expertise. StoneHill CIO Brendan Cosgrove, for instance was a guest on ChannelE2E Podcast 2 earlier this year — describing the company’s legal expertise. I don’t know StoneHill’s current business size.
According to a TechMD blog confirming the deal:
“TechMD and StoneHill have a long history of collaboration. For nearly five years, we compared notes as we grew side-by-side, developed many of the same service offerings, and cultivated very similar company cultures. After a while it became obvious that joining forces would allow us to provide maximum value to our clients and partners.”
TechMD CEO Mark Perez and President Sebastian Igreti will lead the combined company. StoneHill CEO David Bryden join TechMD’s leadership team. The deal allows TechMD to push deeper into three key areas, the blog indicated, including:
- Cyber Security across network security and business continuity
- Cloud Services to boost reliability and shift customer costs from CapEx to OpEx
- Unified Communications for team collaboration
ChannelE2E is reaching out to TechMD for more details.
To track all VAR, MSP and CSP acquisitions, visit the ChannelE2E Milestones section regularly.