New Charter Acquires Microsoft Partner I.T. Responsive
This is technology M&A deal number 391 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Located in Santa Ana, California, I.T. Responsive is a Microsoft Gold Partner that works with small and midsized businesses. The company has an additional office in San Diego, California, according to its website.
About New Charter
New Charter has now acquired and/or invested in more than 10 MSPs since 2020 — including Braver Technology, Olmec Systems, Greystone Technology, and The Tech Group. New Charter’s four founding MSPs, as announced in September 2020, were:
- ActiveCo Technology Management of Vancouver, British Columbia.
- Apex Technology Management of Redding, California.
- DCG Technical Solutions of Los Angeles, California.
- PennComp Outsourced IT of Houston, Texas.
Despite the many M&A deals, none of them fit into the traditional “sell and exit” strategy for the MSP owners. Instead, Oval Partners is investing in the companies and helping them scale, keeping the previous owners on hand to run and expand the company using lessons gleaned from the other businesses.
Financial backer Oval Partners “focuses on making investments in the Business and Tech Enabled Services, Information Services, Internet, Software/SAAS and Industrial Technology markets,” according to its website. Unlike most private equity firms, Oval’s capital base is permanent—which means the firm isn’t constrained to a specific holding/ownership period.
New Charter Acquires I.T. Responsive: Executive Commentary
New Charter Technologies CEO, Mitch Morgan, commented on the deal:
“We are so excited to welcome Chance Weaver and the team at I.T. Responsive. Chance brings vision, passion, and expertise to our Microsoft Practice, as we drive Digital Transformation for our clients.”
Chance Weaver, the CEO of I.T. Responsive, said:
“The ability to work inside of a larger organization increases our growth and efficiency. There’s an incredible opportunity for shared services and best practices that we can do much better collectively than we could do alone.”