PE-Backed NWN Corporation Acquires Carousel Industries
This is technology M&A deal number 270 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
The New Entity
The combination of NWN and Carousel will create a company with an estimated $1 billion of revenue in 2021, the company said. With the acquisition of Carousel, NWN is doubling down on its solutions for cloud communications, engagement, networking, devices, security and infrastructure built for the work-from-anywhere environment, according to the company.
Founded in 1992, Carousel has more than 5,000 customers in the United States and employs more than 1,000 people across the country. The company’s expertise includes unified communications and collaboration, secure infrastructure, data centers, networking and cloud solutions.
NWN’s Growth Plans
NWN is backed by New State Capital Partners, which has experience investing in the business services, industrials, consumer, and healthcare industries.
NWN will continue to pursue an “aggressive organic and inorganic growth strategy,” according to David Blechman, founder and senior principal of New State.
NWN Acquires Carousel: “Unparalleled Reach”
Jim Sullivan, CEO of NWN, commented on the deal:
“Our intent is to build a national powerhouse brand that will transform expectations for today’s work-from-anywhere environment. Business communications are essential to productivity and collaboration. There is a tremendous need for service providers to help deliver better employee and customer experiences across commercial and public sector markets. The combined entity will give us unparalleled reach and resources to meet customer demand.”
Jeff Gardner, founder and CEO of Carousel Industries, added:
“This acquisition represents an incredible opportunity for Carousel employees, customers, and partners alike. We share an innate passion for propelling our customers’ journey to the cloud – driving adoption with speed and scale, providing ROI, and enriching their transformation journey. As much as 70% of our customer base is demanding integrated cloud services now, and this partnership will advance our ability to meet and exceed their needs from day one.”
Jim Marsh, CRO of Carousel Industries, said:
“This chapter represents such an exciting moment in our journey; a meeting of two organizations that have a rich history of valuing clients and putting them first. Our success is a result of operating from a ‘customer success obsessed’ vantage point, and now we will continue to propel our clients forward with the same mindset, but with greater scale and deeper resources. This acquisition is a great testament to years of diligent work and thoughtful execution from the Carousel family. We are very proud to enter this next chapter together.”