Leading national managed service provider announces 22nd acquisition
PLANO, Texas, July 5, 2023 /PRNewswire-PRWeb/ -- The 20 MSP, a leading provider of managed IT services, today announced its acquisition of Cirrus IT Solutions, a highly regarded IT company serving clients in Knoxville, Tennessee and the surrounding area.
This deal marks the twenty-second acquisition for the rapidly expanding company, and the ninth of the year. The 20 seeks to solidify its national footprint through a combination of organic growth and strategic M&A deals.
Cirrus IT Solutions thrived as a member of The 20 MSP Group, a business development "co-op" dedicated to fostering growth among forward-thinking managed service providers (MSPs) looking for help with scalability, sales, and service delivery. The company's commitment to excellence and client empowerment propelled them to prominence in the Knoxville area, and their consistent growth led to their inclusion in The 20 Elite, an exclusive tier reserved for top-performing MSP members.
The 20's leadership team is excited about the partnership and eager to deepen its relationship with the talented Cirrus group.
"Today is a great day for both companies and, most importantly, for our collective client base," said The 20's Chief Executive Officer and founder, Tim Conkle. "Cirrus brings a lot to the table, including a first-rate team of motivated individuals who understand that the core of what we do is service. Their commitment to excellence impressed us from the get-go, and I'm confident that their in-depth knowledge of our industry will continue to help The 20 distinguish itself on the national stage," Conkle added.
This most recent deal by The 20 will not be the last, as the company has a full pipeline of acquisition candidates, all of which belong to The 20 MSP Group. As Conkle explained, acquiring MSPs exclusively from the group enables a powerful M&A strategy that builds on preexisting synergies and relationships.
"The companies we're acquiring are all MSPs we've worked with closely on a long-term basis," said Conkle. "This not only allows us to cross the t's and dot the i's quickly and with minimal disruption to end clients, but also, it means we're building on relationships that have been firmly established – not trying to create compatibility from scratch as it typically the case in deals like this."
The 20 remains steadfast in its M&A strategy, and is poised to sustain its acquisition momentum throughout the remainder of 2023. The organization's rapid expansion and distinctive consolidation approach have garnered significant industry recognition, solidifying the company's status as a prominent player in the competitive M&A landscape.
"We're thrilled by how far we've come, and how successful this roll-up has been so far," said Conkle. "But there's more work to be done, and our passion and commitment are as strong as ever."
Pinecrest Capital Partners served as the exclusive financial advisor to The 20 MSP on the acquisition and associated financing.
About The 20 MSP
The 20 MSP has been helping businesses succeed through better technology since 1986. As a leading provider of managed IT services, The 20 MSP serves hundreds of businesses nationwide, providing each one with white-glove service, secure and streamlined IT infrastructure, and 24/7/365 support. We believe in building lasting relationships with clients founded on trust, communication, and the delivery of high-value services for a fair and predictable price. Our clients' success is our success, and we are committed to helping each and every organization we serve leverage technology to secure a competitive advantage and achieve new growth. To learn more, visit the20msp.com
About The 20
The 20 is an exclusive consortium for Managed Service Providers (MSP) aimed at dominating and revolutionizing the IT industry with its standardized all-in-one approach. The 20's robust RMM, PSA, and documentation platform ensures superior service for its MSPs' clients utilizing their completely US-based Help Desk and Network Operations Center. Extending beyond proven tools and processes, The 20 touts a proven sales model, a community of industry-leading MSPs, and ultimate scalability. To learn more, visit the20.com
Media Contact
Crystal Conkle, The 20, 972-461-0880, [email protected]
SOURCE The 20
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