New Charter Technologies Partners with Complete Technology Solutions

New Charter Technologies, a portfolio company of Palo Alto-based private equity firm Oval Partners, has announced a partnership with Sparta, Illinois-based Complete Technology Solutions (CTS). Financial terms of the deal were not disclosed.

This marks the 266 technology M&A deal that ChannelE2E and MSSP Alert have tracked in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.

New Charter Technologies, founded in 2018, is headquartered in Palo Alto, California. The company has 38 employees listed on LinkedIn. New Charter’s areas of expertise include IT Support, Managed IT Services, IT Consulting, Cloud Computing, Cybersecurity, and IT Outsourcing.

Complete Technology Solutions, founded in 1984, is headquartered in Sparta, Illinois. The company has 39 employees listed on LinkedIn. CTS’s areas of expertise include Unified Communications, Managed IT Solutions, Cloud Storage, CCTV Surviellance, Access Control, Data Recovery, VOIP, Telecommunications Equipment Provider, Network Management, Helpdesk Services, HIPAA, PCI, Video Conferencing, Cybersecurity, Managed Services Provider, and Preventative Maintenance.

An Enhanced Approach to Customer Service

Oval Partners and New Charter operate an equity partnership model. The acquired companies’ existing leadership stays on to run and expand the organizations.

New Charter is an investment partnership that has “acquired” a portfolio of 22 (and growing) companies operating in 28 cities since 2020 – including Braver Technology, Olmec Systems, Greystone Technology, The Tech Group, Adnet, and Strategic Solutions. 

New Charter’s four founding MSPs, as announced in September 2020, were:

Despite the many M&A deals, none of them fit into the traditional “sell and exit” strategy for the MSP owners, as ChannelE2E has reported. Instead, Oval Partners invests in the companies and helps them scale, keeping the previous owners on hand to run and expand the company using lessons gleaned from their other businesses.

New Charter Partners With CTS: Additional Commentary

Kelly Ethington, President, CTS, stated:

"As we delved into understanding New Charter's offerings, it was clear that this partnership was unique. NCT empowers us to operate our company autonomously, capitalizing on our strengths with our existing team. However, we also gain the benefits of being part of a larger organization, endowed with ample resources. This equips us to offer our clientele enhanced experiences, leveraging the latest tools and software in a cost-effective manner."

She added, "Our customers can expect a more in-depth and consultative approach. We aim to present solutions that will strategically enable them to utilize technology to boost their essential performance metrics, such as profit, growth, and efficiency."

A spokesperson for New Charter explained to ChannelE2E the company's unique stance on acquisitions: 

"Unlike the standard private equity model, which tends to consolidate firms, New Charter enhances the entrepreneurial path. We prioritize maintaining and accelerating organic growth for top-tier Managed Service Providers (MSPs). Through our equity partnerships, we ensure the retention of each company's distinctive culture, all while propelling their entrepreneurial aspirations. This cooperative approach ensures that all partners are invested in the collective success and growth of the organization."