Netrix, which is backed by private equity firm OceanSound Partners, has acquired Microsoft Partner PSC Group for an undisclosed amount.
This is technology M&A deal number 552 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Netrix provides managed and professional IT services with a focus on cloud, security, collaboration, ITSM, and application development solutions. Netrix says this acquisition will add “significant scale” to its cloud application development and data intelligence practices, leveraging both Microsoft Azure and Amazon Web Services.
Based in the Chicago metropolitan area, PSC is a cloud services provider that helps companies modernize their business applications and use data and operational efficiency to provide specific business insights.
All three of PSC’s shareholders, John Quirk, Rick Parham and Michael Reiss, will take on key roles within Netrix to ensure a smooth integration of the PSC organization, the company announced.
Netrix Acquires PSC: Executive Insight
Rob Dang, CEO of Netrix, commented:
“I’m excited to welcome our new colleagues from PSC to Netrix today. PSC supports an attractive base of midsize and enterprise customers and has a strong track record for properly advising them. The PSC team is full of experts that help their customers understand how to best leverage cloud and data intelligence capabilities to accelerate their digital transformation goals, enabling growth and promoting organizational visibility, resilience and flexibility.”
Don Penland, VP of corporate development at Netrix, said:
“As Netrix delivers on its organic growth strategy, we intend to continue executing on strategic acquisitions, like PSC, that accelerate our ability to provide a comprehensive portfolio of leading solutions to our customers. PSC’s senior leadership team, talented employee base and portfolio of cloud and data capabilities, when integrated into the Netrix platform, further elevates us to a premier, national provider of mission-critical IT solutions.”
John Quirk, partner at PSC, said:
“We’re very pleased to be joining Netrix as PSC embarks on this next phase of its journey. Rick, Michael and I were very focused on aligning with a platform where we saw the ability to continue delivering value to our customers by providing sophisticated services to support their business needs. Netrix fits that bill and we look forward to supporting our clients with a more complete suite of solutions.”
Michael Reiss, partner at PSC, added:
“A strong cultural fit was a key focus for us as we evaluated a potential partnership with Netrix. We now understand that Netrix’s unwavering focus on supporting clients and developing its team members aligns with the culture we’ve sought to foster at PSC over the last decade.”
Rick Parham, partner at PSC, commented:
“This transaction is a testament to the time, dedication and hard work the PSC team has put into the organization over the years. We look forward to the expanded professional development and career growth opportunities afforded to our colleagues within this larger, high-growth platform.”
About Netrix
Headquartered in Chicago, Illinois, Netrix is a Gold-level Microsoft partner. The company typically works with small and midsized enterprise customers and has additional locations in Milwaukee, Wisconsin and India.
The PSC deal marks the latest in Netrix’s M&A history, having acquired the Microsoft Consulting and Managed Services business unit of Prosum Inc in December 2020 and the managed IT services business unit of Contegix in July 2021.
Netrix has been backed by tech-focused private equity firm OceanSound Partners since a recapitalization in August 2020.
Clingen Callow & McLean, LLC served as legal counsel to PSC. Womble Bond Dickinson (US) LLP and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Netrix.
