Multiple executives at a Pittsburgh, Pennsylvania-based MSP (managed IT services provider) have acquired the business from former owner Brian Conboy. Financial terms of the deal -- involving Advanticom -- were not disclosed.
This is technology M&A deal number 606 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.
MSP Business History, Ownership Transition
Advanticom, founded in 1996, has 26 employees listed on LinkedIn. The company positions itself as Pittsburgh’s first ISO 27001 certified MSP that specializes in cybersecurity, infrastructure solutions, cloud solutions, IT managed services, risk management services, and communication services. Key partners include Microsoft, ServiceNow, Dell and RingCentral, according to the Advanticom website.
Among the deal details to note:
- New President and CEO Keith Arnold is now the MSP's majority shareholder;
- the ownership team also includes three minority shareholders -- Jason Fink, Jonathan Geyer, and Rob Rech; and
- all of the shareholders have worked together for the past eight years.
The ownership transition began with discussions between Conboy and Arnold at the end of 2021. Ahead of the deal, Arnold ran day-to-day operations at Advanticom for the last few years.
In a prepared statement about the ownership transition, Arnold said:
"For the last five years we have been building something very special at Advanticom: the tenure and camaraderie that we have among our Senior Engineering team. The years spent working side by side in the trenches has formed a level of trust that will set us up for success in the years to come. The Managed Services marketplace is evolving, with an increasing focus around IT security. Today, businesses want to work with an MSP that has security focused engineers and an operational maturity that exceeds the capabilities of the traditional MSP. We anticipated this transition several years ago and have been building our capacity to a level that positions Advanticom as a leader in the marketplace. It's an exciting opportunity to lead a company with this level of talent and vision."
Executive Team: Areas of Expertise
Jason Fink, Advanticom's director of cloud services, has been with the company for 12 years. He serves as the organization's Microsoft Practice Manager and Risk Assessment manager for the ISO27001 practice.
Jonathan Geyer, Advanticom's director of security services, has been with the company for eight years and has worked in the industry for over 15 years.
Rob Rech, Advanticom's director of infrastructure services, is the organization's longest tenured partner at 17 years with the organization.
