Brightworks IT, backed by private equity firm Cloud Equity Group (CEG), has acquired Key Technology Solutions for an undisclosed amount.
This is technology M&A deal number 1,012 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Brightworks IT Acquires Key Technology Solutions
Brightworks IT, founded in 2021, is based in New York, New York. The company has over 80 employees. Brightworks IT’s areas of expertise include technology, managed services, hardware, security, and software.
Key Technology Solutions, founded in 2003, is based in Wixom, Michigan. Key Technology Solutions’ areas of expertise include disaster recovery, backup solutions, system virtualization, security solutions, and hardware and software solutions.
Brightworks IT has a revenue run rate in excess of $10 million. This is the company’s sixth acquisition as part of its parent company’s strategy to consolidate several managed IT services companies, according to the company. Brightworks previously acquired IS Concepts, a managed IT services provider (MSP) in California.
Brightworks IT Acquires Key Technology Solutions: Leadership Insight
Sean Frank, managing partner, Cloud Equity Group, commented:
"Since our acquisition of Key Technology Solutions, Cloud Equity Group and management has negotiated offers on five more managed service provider add-on acquisitions. Our objective has been consistent: gain additional scale, expand geographical footprint, strengthen higher-end IT technical capabilities, and add additional management depth. We believe that Key Technology Solutions achieves each of our objectives."
Damen Seminero, COO, Brightworks IT, said:
"This Acquisition enables Brightworks IT to combine its significant presence on the east and west coast of the United States with Key Technology Solutions' central US location. This combined company is very well-positioned to experience significant organic growth, providing high-end IT services and solutions to both current and future clients coast-to-coast."
Duane Lambert, co-founder, Key Technology Solutions, added:
"We are excited to welcome the next chapter of the Key Technology Solutions story under the banner of Brightworks IT and provide our new and existing clients with a more expansive set of tools, capabilities, and resources driving a tangible impact to the critical and ever-evolving IT needs at hand. We are certain that with Brightworks IT we will continue to tackle the most challenging problems our customers are facing."
