Irving, Texas (PRWEB) June 12, 2008
The March Group announces the sale of Los Angeles based information technology company, Affidia. Founded in 2001 by partners Dan Riekes and Ron Freson to provide trusted technological service to the Los Angeles area, Affidia has experienced profound growth since its inception. The value of the transaction was not disclosed.
Both buyer and seller of Affidia describe the sale as a strategic move by both. "I sold in part to get back in sales, and to help the company," observes former Affidia co-owner Dan Riekes. "It's a great marriage. It's a great way to help Affidia to get to the next level. We (at Affidia) bring a lot to the table and they do too. The two companies together are a better, bigger company."
Akins Consulting CEO Shawn Akins, agrees, "Akins Consulting is a fast growing IT consulting firm headquartered in Orange County, Calif. The acquisition of Affidia Systems is a strategic move that allows Akins Consulting to expand its client base, technical expertise, and geography to the Los Angeles area.
"Our client, Affidia, is located in Los Angeles (LA) and most of their clients were LA-based clients," further explains The March Group deal manager, Mike Meredith. "Akins Consulting was in Orange County, adjacent to LA County. Atkins' focus had been on Orange County and he was having a tough time penetrating the LA market and Affidia was having a tough time penetrating the Orange County market. So by combing the two companies, you now have a footprint in both LA County and Orange County. It made sense strategically for both companies."
Dan Riekes, who will continue with Akins as the new Director of Sales, Los Angeles, founded Affidia in 2001 after nearly fifteen years of various positions in the computer industry. "I used to be a salesperson (for a large network manufacturer). I sold a lot of solutions, fourteen million a year was what I did in business. I just decided that if I was going to work like I owned it, I was going to own it."
Riekes credits Affidia's success with "a lot of hard work, the ability to put together and understand customer needs and putting together customized solutions to address client needs, really solid engineering delivery. We delivered a really solid, successful product consistently."
But Riekes found running a company and managing all the other aspects of heading up a successful operation that included equipment, strategy and managing cash flow, diverted his attention from what he thought he did best -- business development and sales. "I wanted to step back and do what I like to do versus all the other jobs that I ended up having to do and that I didn't want to do anymore. You wear a lot of hats running a business."
The sale was not without its obstacles, the primary one being the buyer getting an SBA loan approved during a national banking crisis. "We closed in April and we should have closed in January or February," recalls Riekes. "It was frustrating. Everyday, when I picked up the paper, I thought the banks are in a bad mood." The loan slowly worked through the process until it was ultimately approved.
Fortunately, unlike so many other financial transactions that have gotten stalled over the last few months, this story has a happy ending. Now both Akins and Riekes are looking toward a bright future. Riekes concludes, "We want to be the premier element in Los Angeles that is driving the success for Akins Consulting." It seems that Shawn Akins agrees, "With this acquisition and Akins Consulting's continued growth, revenues are expected to double in 2008, further expanding Akins Consulting."
Affidia Systems provides targeted technology support with a focus on long-term solutions and superior service. The company offers high-quality solutions to corporations, small and medium businesses and the educational institutions in the Los Angeles, Calif. area.
Akins Consulting provides IT services and sales for Southern California. As a Microsoft Gold Certified Partner, Akins Consulting provides computer support, managed services, security, Voice over IP, wireless service and network systems. The company was recognized as one of Orange County's 100 fastest growing companies in 2007.
About the Company
The March Group is an investment bank with more than 20 years of experience, specializing in the marketing, negotiation and sale of privately held mid-size businesses. The March Group provides a full spectrum of investment banking and consulting services designed to help entrepreneurs obtain financing in all stages of their company's development. They take a hands-on approach to selling a business by offering workshops, evaluating the company, managing the marketing process, and negotiating the sale.
With a robust network of buyer relationships throughout the world, The March Group provides their clients with unparalleled contacts developed over a 20-year span of successful operations.
Contact a March Group representative by e-mailing info @ marchgroup.com or calling 866-663-5806.