The addition of Adnet will bring the company’s total headcount to 450, the company’s CEO confirmed with ChannelE2E.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 Adnet: “An Equity Partnership”
Mitch Morgan, CEO, New Charter TechnologiesMitch Morgan, CEO, New Charter Technologies, commented:
"We're building a national MSP platform in an entirely new and different way. We call it an Equity Partnership. We take a culture-focused approach and partner with companies that share our mission to improve people's lives with technology solutions."
Christopher Luise, the CEO of Adnet Technologies, said:
"Our employees are the reason for our company's consistent success, so we were only willing to work with an investment partner that would help us create new opportunities for our team and support our work to build a company culture that retains, attracts, and empowers top talent."
