Ascend Technologies, backed by private equity firm M/C Partners, has acquired managed IT service provider (MSP)and Microsoft Gold partner Peters & Associates of Chicago, Illinois. The seller also has managed firewall and SIEM (security information and event management) expertise. Financial terms of the deal were not disclosed.
In a prepared statement about this latest deal, Ascend CEO Wayne Kiphart said:
“Today is an exciting day as the Peters & Associates team bring their decades of IT expertise to Ascend Technologies. They have maintained a customer-first approach and continue to be a knowledgeable resource in the industry and are a welcome addition to Team Ascend.” continues Kiphart.
Added Andrew Peters & Tom Wiesman, co-presidents, Peters & Associates:
“Peters & Associates is pleased to announce that we are joining the Ascend Technologies team. We feel confident our clients will benefit from our newly combined offerings. The P&A team will remain in place and are committed to continue serving our customers.”
M/C Partners: Private Equity for MSPs
Ascend’s private equity parent, M/C Partners, has extensive experience in the IT services provider market. The company’s previous investments include Thrive Networks, Involta, Ensono, Fusepoint, Attenda, Denovo, Carbon60, and more.
M/C Partners has invested more than $2.4 billion in capital in more than 140 companies. The private equity firm typically targets companies with enterprise values of $25 million to $250 million.