Fully Managed Acquires Canadian MSP TWT Group
Fully Managed has acquired TWT Group Inc., an MSP (managed IT services provider) in Calgary, Canada. Financial terms were not disclosed.
This is M&A deal Number 87 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
The deal surfaces only days after Fully Managed disclosed $25 million in financing from Comerica Bank and BDC Capital.
Fully Managed Acquires TWT: Company Info
TWT’s roughly 30 employees now transition to Fully Managed. Also, TWT CEO Shawn Freeman becomes regional VP for Fully Managed’s Alberta, Canada, region.
Fully Managed, backed by 300-plus employees, supports more than 1,200 customers in the U.S. and Canada across three lines of business:
- Managed IT services for small and medium-sized businesses and multi-location enterprises;
- senior care IT services for skilled nursing facilities and senior living; and
- enterprise service management for MSPs, mid-market and enterprise clientele. This group has customized ServiceNow for use in those target markets.
Fully Managed Funding: Executive Perspective
Describing the latest M&A deal, Fully Managed CEO Mark Scott said:
“The addition of TWT bolsters Fully Managed’s goal of regional offices in major markets across North America to improve our customer experience with in-market support. TWT Group has a sterling reputation in Western Canada, particularly in the Calgary market and we couldn’t be happier to add Shawn and his team to ours. We share a very similar philosophy to Managed Services and also recognize their deep expertise in Microsoft Azure as a strong addition to our bench strength.”
Added TWT’s Freeman:
“TWT has long prided itself on providing the right IT solutions – whether it be tools, technology or advice – that western Canadian businesses need to thrive and grow. This merger is a continuation and expansion of TWT’s mission of helping our customers’ businesses grow by providing reliable, secure, and innovative IT solutions. Our valued customers can be assured that they will continue to receive the same level of service they have become accustomed to but will see an expanded scope of services available to them in the near future.”
Concluded Joel Abramson, chief strategy officer and head of corporate development at Fully Managed:
“Shawn is exactly the type of entrepreneurial leader required for our RVP role as he’s very active in the Calgary community and carries great business accumen, Interestingly Calgary has one of the highest concentrations of corporate headquarters which is a key part of our North American expansion strategy to better service multi-location enterprises.”
Fully Managed has extensive M&A experience. The company acquired ServiceNow partner Lime Collar Group in 2019, and merged with CareWorx in 2018.