Leading national managed service provider announces 20th acquisition
PLANO, Texas, May 5, 2023 /PRNewswire-PRWeb/ -- The 20 MSP, a leading managed IT services provider with offices nationwide, today announced its acquisition of Computer Support Team (CST), a top-tier MSP headquartered in the San Fernando and Conejo Valley areas. This latest deal is the seventh of the year for The 20, and the twentieth since the company began its aggressive M&A spree in 2022.
CST achieved impressive, year-on-year growth as a member of The 20 MSP Group, The 20's business development "co-op" for small and medium-sized managed service providers. CST also demonstrated consistently high levels of client satisfaction, helping hundreds of businesses increase productivity and profitability with streamlined and customized technology solutions. The 20's leadership team is eager to begin collaborating more closely with its new team members, and feels confident that this latest addition of talent and resources will help The 20 further cement its status as a leading national MSP.
"I'm thrilled to welcome CST to The 20 family," said Tim Conkle, CEO of The 20. "Scott Palmquist has worked hard to build a top-notch, operationally mature MSP that stands out in this fiercely competitive industry. The entire CST team has impressed us time and again with their business acumen, technical expertise, and dedication to client success. These things all bring tremendous value to The 20, and we're excited to see all that value start trickling down into the businesses we serve," added Conkle.
This latest deal by The 20 strengthens the rapidly growing company's position as a national MSP with coast-to-coast reach, while adding crucial expertise in several key areas, including cybersecurity and cloud computing.
In a managed services industry with heightened M&A activity, The 20's consolidation strategy stands out as unique.
"We're only looking to acquire MSPs that belong to our group," explained Conkle. "We know these companies inside and out, and questions of both operational and cultural compatibility have been settled long before any official dealmaking is set into motion. And because these MSPs have already mastered our service delivery model, integration is relatively simple and seamless. This means a faster and easier purchase, as well as minimal disruption to end clients."
Equipped with an effective M&A strategy and a full pipeline of acquisition candidates, The 20 plans to continue its buying spree in the coming months and solidify its presence in all of the major metropolitan areas in the U.S. After that, the company will seek to deepen its presence in those markets, while continuing to diversify and elevate its services.
"This industry is still so splintered that there's tons of consolidation that's to be done," said Conkle.
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
Crystal Conkle, The 20, 9724610880, [email protected]
SOURCE The 20