ConnectWise has named Manny Rivelo as CEO, succeeding Jason Magee, the top executive who has served in that role since ConnectWise was acquired by private equity firm Thoma Bravo.
While ConnectWise has said that Magee will be on hand for IT Nation in November, all eyes are on the company to ascertain what’s next for the MSP tools platform and community organization.
MSPs privately complain that once a vendor is acquired by private equity, innovation slows down.
ConnectWise is on the timeline for a recapitalization or sale by its private equity (PE) owner Thoma Bravo, which acquired it in February 2019 for an estimated $1.5 billion.
If that’s what’s afoot, Thoma Bravo’s exit could come in several different forms – a sale to another PE firm, a sale to or merger with another technology vendor (possibly a cybersecurity vendor, given the talk earlier this year of a potential Barracuda/N-able deal), or an initial public offering (IPO).

But it's also possible Thoma Bravo may not be looking to sell ConnectWise in the near term. Thoma Bravo could hold ConnectWise and further invest in the company. ConnectWise's recent acquisitions of Axcient and Skykick could be clues as to the trajectory of that approach. Or Thoma Bravo could merge ConnectWise with another of its portfolio companies or another that it plans to acquire in the future. Again, a cybersecurity company may make sense. Thoma Bravo claims to have one of the largest cybersecurity portfolios in private equity and it also includes investments in SonicWall, N-able, Barracuda and Sophos.
The naming of Manny Rivelo to the top job at ConnectWise could offer some clues as to the strategy going forward. Here are five things you should know about Manny Rivelo.
ChannelE2E will be following further developments closely and we will bring you the news as we uncover it.