Coretelligent, backed by private equity firm Norwest Equity Partners (NEP), has acquired technology services and solutions consulting company and Microsoft partner Chateaux. Financial terms of the deal were not disclosed.
This is technology M&A deal number 392 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.
The agreement also includes Chateaux's India Division, Podshore Galaxy Services, a subsidiary founded in 2018 and based in Bangalore, India.
Chateaux's IT Business Focus
Chateaux is headquartered in Norwalk, Connecticut with additional offices in Boston, Massachusetts and Tampa, Florida.
Chateaux works with customers in the energy, finance, healthcare and utility sectors. Key clients include FedEx, NFL, Dannon, Pepsi, Honda and Heineken. Beyond Microsoft, Chateaux also partners with IBM, Progress, and AWS.
Under terms of the M&A deal, Chateaux will operate as “Chateaux, a Coretelligent Company” and key leaders such as Ken Zimmerman, Mark Montanaro and Vijay Rathna remain on-board, the buyer indicated.
Coretelligent: Mid-Market MSP Business Focus
Meanwhile, private equity firm Norwest Equity Partners (NEP) has owned Coretelligent since October 2021.
Coretelligent is based in Westwood, Massachusetts. The MSP also has offices in New York City, Philadelphia, Atlanta, Stamford, Scarborough, and the San Francisco Bay area, and expanded support locations in Dallas, Los Angeles, Philadelphia, Tampa, Washington, DC, and West Palm Beach.
Coretelligent has grown both organically and through multiple M&A deals. Example acquisitions include:
- Soundshore Technology Group in November 2020;
- SoundView IT Solutions in November 2019; and
- United Technology Group in April 2019.
Coretelligent Acquires Chateaux: Executive Insights
In a prepared statement about the latest acquisition, Coretelligent President and CEO Kevin J. Routhier said:
"We would like to welcome Chateaux and their clients to the Coretelligent family. The decision to bring our firms together was born out of recognizing our shared values, our mutual dedication to providing an extraordinary customer experience, our comparable verticalized expertise, and the complementary nature of our services and solutions. This investment expands the services and solutions we can offer our collective clients by delivering full IT integration for consistent, high-quality service to drive growth and innovation and produce efficiencies."
Added Ken Zimmerman, founder and CEO, Chateaux stated:
"We have long sought to join a company for which Chateaux could add value through our specialized set of services, expertise, and experience. In Coretelligent, we have found a partner that shares our values and culture, and will benefit from our expertise in digital transformation, including application development, integration, and analytics."
Concluded Vijay Rathna, director of enterprise apps, Chateaux:
"We are thrilled to be part of the Coretelligent family. Chateaux has distinguished itself as a leader in digital transformation services and the emerging tech space. This merger will allow us to grow rapidly and help grow Coretelligent on a global scale. I am delighted to begin this next chapter and thankful for all the team members at Chateaux-Podshore for their efforts."
