Private equity firm Bluff Point Associates has acquired True North Networks, an MSP and cloud services provider that supports financial services clientele, for an undisclosed amount.
This is technology M&A deal number 205 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Founded in 2002, True North is headquartered in Swanzey, New Hampshire. The company provides private cloud hosting and cybersecurity services for registered investment advisors and other financial services firms.
True North founder and president Steven Ryder will remain with the company, the company said. True North was previously employee-owned, and every employee benefited from the acquisition, according to Bluff Point.
Bluff Point’s True North Investment
Bluff Point Associates managing director Kevin Fahey, commented on the deal:
"Technological innovation continues to propel RIAs and the wealth management industry forward as the need for data privacy, network speed, and cybersecurity intensifies. We believe there's a considerable demand for secure and flexible cloud-based solutions providers that understand how to serve RIAs and the regulatory framework they operate in, and we're committed to helping True North capitalize on this opportunity."
Steven Ryder, True North's president, said:
"We're excited about the next phase in True North's evolution, which enhances our ability to offer RIAs the most critical and innovative enterprise-level IT solutions that are compliant with regulatory guidance, along with our world-class expertise and support. We're laser-focused on helping our clients use technology to drive their businesses forward securely in any environment and we're proud that we can continue to grow alongside them."
About Bluff Point
Based in Westport, Connecticut, Bluff Point Associates actively invests in the healthcare information services sector and in information services companies that support the banking, trust, securities, retirement and wealth management sectors of the financial services industry.
The firm is a prominent investor in Netgain, which provides IT-as-a-service (ITaaS) to healthcare providers and mid-market companies in highly regulated industries.
