PE-Backed Upstack Acquires Meridian Network Services
This is technology M&A deal number 296 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Founded in 2001, Meridian is a full-service telecommunications agency that serves small-to-medium businesses and enterprises. The company offers a range of telecommunications services, including audits, contract negotiations, network project implementation, and client services.
The acquisition is part of Upstack’s ongoing growth strategy, which has seen the company acquire at least a dozen other businesses in the last two years. The strategy is backed by an initial investment from Berkshire Partners. Following that round, Upstack secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to help scale its platform through “technology expansion and strategic partner investments.”
Meridian Network Services founder and president Stacey Dupree will join Upstack as a partner, the company said.
Upstack Acquires Meridian Network Services: Leadership Insight
Christopher Trapp, CEO, Upstack, commented:
“Stacey Dupree is a seasoned infrastructure professional dedicated to providing full-service solutions to a diverse client base. Her knowledge of the industry–both the players and the technology–as well as her depth of experience, business acumen, and exemplary customer service, make Stacey and Meridian great additions to the Upstack team.”
Stacey Dupree, founder and president, Meridian Network Services, said:
“Our service, our skill at negotiating, and our industry knowledge set us apart; we know how to get things done for our clients, whether they are SMBs or enterprise. We have many long-tenured clients who look to our team as a seamless part of their own and value what we bring to the table. Joining Upstack allows me to serve my existing clients better, to grow the business in new ways, and to share best practices with leaders in the field.”
Upstack’s M&A Plays
As mentioned, Upstack has been very active in the M&A game in recent years. The acquisitions have primarily focused on telecommunications, networking, and infrastructure companies. The deals that ChannelE2E has tracked include:
- March 2022: Network consulting company United Technology.
- February 2022: Telecommunications agency Subsidium Technologies and communications solutions and consulting provider DVP Technologies.
- January 2022: Technology consulting firm teXium.
- October 2021: Global Communications Networks (GCN).
- September 2021: Telecommunications consulting firm Legacy Solutions and Open Communications LLC, and an IT consulting firm.
- September 2021: Network and IT consulting firm idea! Communications Group and MOC4, a technology advisory firm.
- August 2021: CloudAdvise, a technology infrastructure advisory firm.
- July 2021: LanYap Networks, a strategic telecom and cloud solutions provider for medium and large businesses.
- July 2021: Consulting firm DataCenterAndColocation.com
- June 2021: Global technology infrastructure solutions firm Cloudwirx Inc
- May 2021: Telecommunications consulting firm M2 Enterprise Group
- April 2021: Global technology and telecommunications consulting firm Cloudnexion