MSP Acquired: Thrive Buys Apex IT Group
Thrive, backed by private equity firm M/C Partners, has acquired Apex IT Group, an IT managed solutions provider from Mount Laurel, New Jersey. Terms of the deal were not disclosed.
This is M&A deal number 62 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
The deal will bolster Thrive’s presence in the mid-Atlantic corridor and expand its cloud and cybersecurity-focused NextGen platform to Apex IT’s client base.
Apex IT delivers its services through a proprietary process-driven methodology and its “Simple to Switch” client on-boarding process. They work with a variety of small-to-mid-sized businesses, primarily in the greater Philadelphia region.
The firm was founded in 2007 by founder and CEO George Mach. TruMethods CEO Gary Pica and CTO Bob Penland, as well as Apex COO Howard Borrochaner, also owned stakes in the company. Mach took full possession of the firm in 2018.
Thrive Acquires Apex IT: Significant Value Proposition
Rob Stephenson, Thrive’s CEO, commented on the deal:
“I’m very excited to welcome the Apex IT Group, their employees and customers to the Thrive family. By bringing together our companies’ shared vision of technology innovation and a fervent dedication to IT service delivery, we’re providing a significant value proposition to Apex’s clients.”
Tina Mach, Apex IT Group’s CEO, said:
“Thrive’s industry-leading NextGen Managed Services and ServiceNow automation platform, coupled with our technical proficiency in IT operations, will expand Apex’s role as a leader in the greater Philadelphia and mid-Atlantic region. We’ve been very impressed with Thrive’s capabilities and are confident that our partnership will drive tremendous value to our customers via enhanced engineering depth, 24×7 operations, Cloud, SOC and cybersecurity expertise.”
Thrive’s Growth Plans
Apex IT Group will be a founding staple of Thrive’s mid-Atlantic region, overseen by Jason Shirdon, EVP & regional general manager, and formerly the president of EaseTech, a Columbia, Maryland MSP that Thrive acquired in late 2019, the company announced.
Headquartered in Foxborough, Massachusetts, Thrive provides cybersecurity, hybrid cloud, global network management, disaster recovery and compliance-driven NextGen services.
Thrive has completed a number of other MSP acquisitions while under private equity ownership. Those involved: