Connections for Business Buys Farnes Computer Systems
Connections for Business has acquired fellow South Florida managed IT services provider (MSP) Farnes Computer Systems. Financial terms were not disclosed. Zygoquest advised on the deal.
This is M&A deal number 234 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Founded in 1977, Connections for Business is an IT Managed Service Provider with longstanding roots in South Florida.
Founded in 1991, Farnes Computer Systems provides outsourced IT services and solutions intended to boost productivity, reliability, and security for small business. The company works in both Apple and Microsoft-based environments.
The merged businesses will operate under the Connections for Business brand. The united company serves over 150 small businesses across South Florida and manages around 6,000 computing endpoints.
Connections for Business Buys Farnes: Executive Perspectives
In a prepared statement about the deal, David Bennett, CEO of Connections for Business, said:
“Farnes Computer Systems offers an exciting opportunity for Connections for Business to strengthen and expand its service offering in the South Florida market. With a range of high profile clients, the acquisition of Farnes Computer Systems allows us to expand our reach in the market and support our goal to be the leading Tech Service Provider brand in South Florida.”
Jim Farnes, founder and CEO of Farnes Computer Systems, added:
“The Connections acquisition of FCS provides a major growth opportunity for both businesses. Our shared values such as focusing on clients, our employees, and delivering significant business value through high quality tech solutions makes this a winning combination.”
Farnes transitions to executive VP of Connections for Business.
Zygoquest Group Advises
The deal was brokered by Rich Wisniewski and Mike Dudek of Zygoquest Group. Zygoquest has advised on a number of deals, usually concentrated within the IT or office equipment spaces. Other deals the group has advised on include:
- December 2019: Marco acquired Image Systems for Business Inc., a copier/printer provider. Zygoquest assisted Image Systems on the deal.
- July 2019: Magnum Print Solutions, a toner cartridge re-manufacturer and wholesale, acquired Laser Image Plus Imaging Products. Zygoquest advised on the deal.
- May 2019: Marco, a technology service provider, acquired Accent Business Solutions, a copier/printer company in Wisconsin. Zygoquest Group advised Accent on the deal.
- September 2017: Zygoquest, an M&A advisor in the office equipment market, played a key role in yet another deal. Sharp acquired Arista Business Imaging Solutions.