PE-Backed The Purple Guys Acquires Technology Pointe
Private equity-backed managed IT services firm The Purple Guys has acquired Technology Pointe (Tech Pointe), an Austin, Texas-based IT managed services provider, for an undisclosed amount.
This is technology M&A deal number 83 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Founded in 2000, Tech Pointe provides managed IT services, strategy, and support to small and medium-sized businesses (SMBs) throughout Texas. The deal expands The Purple Guys’ reach into Texas, adds scale to its solutions portfolio, and expands its team, the company said.
The Purple Guys Acquires Tech Point: “Leadership Insight”
Kevin Cook, CEO of The Purple Guys, commented:
“As we continue to deliver on our promise to create a new industry standard for managed IT services to the SMB community, we are excited to once again expand our presence with the acquisition of another forward-looking leader in the space. Chuck Cobern, Glenn Iltis, and the talented team at Tech Pointe created a market-leading outsourced IT experience for their clients, and we look forward to building on their success.”
Chuck Cobern, founder, Tech Pointe, said:
“Joining The Purple Guys is an exciting time for our team. It was imperative for Glenn and me to find a partner that values our employees and clients as much as we do. By combining our capabilities with those of The Purple Guys, we have an unprecedented opportunity to add tremendous value to the services we provide to support our clients’ IT needs. Furthermore, our employees are set to benefit significantly from the new opportunities that lie ahead.”
About The Purple Guys
The Purple Guys’ roots begin with the merger of two IT firms, ECS and My IT, in January 2020. A deal that was backed by private equity firms Kian Capital and ParkSouth Ventures. Since the merger, the combined ECS/My IT company made a number of acquisitions, including Kansas City, Kansas-based managed service provider The Purple Guys in February 2021 and Network Technologies in May of the same year.
The combined company then rebranded under the banner of The Purple Guys in a move the company said at the time reflected “both the evolution of the company and its promise to deliver world-class, approachable, stress-free IT support to the small and medium-sized business community.”
Cook says the company remains committed to its strategic growth plan and in 2022, the company plans to continue executing on its acquisition strategy across the Central and Southern US.