These deals come on the heels of eleven other acquisitions by The 20 in 2022, and are the latest moves in an ongoing, multi-year growth plan.
PLANO, Texas, Dec. 1, 2022 /PRNewswire-PRWeb/ -- The 20 MSP today announced its acquisition of two more MSPs, capping off a year of rapid growth and geographic expansion for the industry-leading managed service provider. These deals come on the heels of eleven other acquisitions by The 20 in 2022, and are the latest moves in an ongoing, multi-year growth plan.
Joining The 20 are CSP Technologies (Arizona & North Carolina; CEO – Chris Plouffe) and Code Red Networks (Michigan; CEO – Dennis Ward). As members of The 20 MSP Group, CSP Technologies and Code Red Networks achieved consistent and impressive growth, evolving into major regional players with proven track records of client success.
"As members of our group, Chris and Dennis have built really special organizations with incredible cultures," said Tim Conkle, CEO of The 20. "They do all the little things right, and never lose sight of the true role of an MSP – helping your clients succeed. It's that client-first mentality and commitment to excellence that has allowed both of these businesses to stand out in our crowded industry and grow – and it's a huge part of the immense value they're bringing to The 20," Conkle added.
M&A activity remains high in the MSP space, and 2023 is shaping up to be another year of vigorous dealmaking, fueled in part by continuing high levels of interest and investment from the private equity world. The 20's exclusive financial advisor on its acquisitions is Pinecrest Capital Partners, a PE firm. The 20 is not, however, relying on private equity funding, in contrast to some of the other large platform MSPs involved in M&A.
Another notable aspect of The 20's consolidation strategy is the role of The 20 MSP Group. "The MSPs we're acquiring all belong to The 20 MSP Group, which means we've been working with them for months – sometimes years – on a daily basis," Conkle said. "There is already a real relationship in place, and a deep compatibility that's hard to build on the fly."
With 170+ MSP members, The 20 MSP Group ensures that there's no shortage of MSPs in The 20's acquisition pipeline, and Conkle's plan for next year is to acquire 2 to 4 MSPs a month.
"After doing thirteen of these deals, we've settled into a rhythm that works. The integrations are smooth and, for the most part, painless, and end clients don't have to adjust to a whole new model of IT support. As for the owners of the MSPs we're acquiring, we place them in roles that allow them to shine. It's about coming together and getting stronger – something we've believed in at The 20 from the very beginning."
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 MSP Group
The 20 is an exclusive business development group 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 McFerran, The 20, 9724610880, [email protected]
SOURCE The 20
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