Coretelligent, a mid-market MSP backed by private equity firm Norwest Equity Partners (NEP) has acquired Philadelphia-based Advanced Network Products (ANP). Financial terms of the deal were not disclosed. FOCUS Investment Banking served as the advisor in the deal.
This is technology M&A deal number 246 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Coretelligent is based in Needham, Massachusetts. The company has 235 employees listed on LinkedIn. Coretelligent’s areas of expertise include IT support, customized IT roadmaps, private cloud hosting, best-of-breed technology solutions, security & data protection, backup & disaster recovery, onsite & remote support, project management, and white glove customer service.
Advanced Network Products, founded in 1984, is based in Plymouth Meeting, Pennsylvania. The company has 21 employees listed on LinkedIn. ANP’s areas of expertise include IT delivered as a service, WAN & LAN design and management, workstation and server deploy & maintain, CIO support, Microsoft 365, Azure, Cisco, modern sorkplace, VoIP, managed IT services, IT strategy, cybersecurity, security as a service, cloud migrations, and digital transformation.
This strategic move is expected to enhance Coretelligent's capabilities in the Microsoft stack, especially the Azure platform. The integration aims to streamline infrastructure management with on-premises systems and unlock Microsoft security features often underutilized by many companies.
Coretelligent Acquires ANP: Executive Commentary
Kevin J. Routhier, founder, president, and CEO, Coretelligent, commented:
"We are thrilled to welcome ANP into the Coretelligent family. Their technical experience and emphasis on customer service are what we look for when making strategic acquisitions."
David S. Mulvey, CEO, ANP, shared:
"Joining forces with Coretelligent ensures our clients can continue to depend on the best-in-class service they expect, benefiting from Coretelligent’s advanced technology solutions and services."
Strengthening Presence in the Mid-Atlantic Region
The acquisition is in keeping with Coretelligent’s overall growth strategy in the Mid-Atlantic region.
This deal is the seventh for Coretelligent since 2019 and the fourth since NEP added Coretelligent to its investment portfolio in October 2021. This most recent deal marked the third time FOCUS Investment Banking served as the advisor to the seller in a transaction with Coretelligent. The company's previous acquisitions include:
- February 2023: NetCom Systems
- May 2022: Technology services and solutions provider Lighthouse Technology Partners;
- April 2022: Microsoft partner Chateaux;
- November 2020: Soundshore Technology Group in November 2020;
- November 2019: SoundView IT Solutions in November 2019; and
- April 2019: United Technology Group in April 2019. (Note: FOCUS Investment Banking also served as exclusive financial advisor to United Technology Group (UTG) on the Coretelligent deal.