Mergers and Acquisitions, Mergers and Acquisitions, MSP, Content, Small business

Miii MSP Seeks to Buy Small Managed Services Providers Across North America

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Miii MSP has acquired Canadian IT solutions provider Triella. M&A advisory firm Tequity advised Triella on the deal. Financial terms of the deal were not disclosed.

This is technology M&A deal number 346 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.

This M&A deal is part of a larger Miii MSP investment strategy that's led by Ranil Fernando and Pamela Miranda. The company typically purchases MSPs in Canada and the United States that have:

  • at least $1.5 million in annual revenue;
  • EBITDA/cash flow positive of around $500,000; and
  • at least four years of business operations.

Miii MSP Acquires Triella: Business Backgrounds

Triella is a Canadian IT solutions provider that works with professional service firms to deliver cloud infrastructure, backup and recovery-as-a-service, security and IT solutions, according to Triella's website.

Triella, which has 16 employees listed on LinkedIn, also delivers managed private cloud and targeted security and managed IT solutions, and is primarily focused on the legal industry. Other customers include professional service firms, schools and SMEs, according to the seller.

Miii MSP is a long-term growth investor in the U.S. and Canadian MSP market. The company's mission is "to acquire MSPs and grow their annual recurring revenue. Our mission is to be the first choice for MSPs looking to grow, become more profitable and to unlock endless possibilities," according to the firm's website.

Miii MSP acquires, operates and grows existing MSPs and maintains their current branding and name, the company said. Founders can choose to keep a minority stake, stay on as an advisor or retire, according to Miii MSP.

MSP and Salesforce M&A Advisor: Tequity

Tequity, an M&A advisory firm specializing in global enterprise B2B cloud, SaaS and IT company transactions, acted as the exclusive financial advisor to Triella in their acquisition by Miii MSP.

Tequity emerged in 2018 as a key M&A advisor, especially to Salesforce partners. Essentially, Tequity helps provide a potential exit doorway for companies looking to sell, and a thorough company analysis for potential buyers.

Tequity's work encompasses everything from SaaS and legacy software solutions across many vertical and horizontal markets to all major cloud partner ecosystems including Salesforce, ServiceNow, SAP, Microsoft and Oracle, according to the Tequity website. The firm also has experience with XaaS providers including managed services, security, infrastructure and platform solutions and related cloud offerings in AWS, Azure, IBM and Google Cloud, Tequity said.

Additional insights from Joe Panettieri.