It seems as though BrightWorks IT’s buying spree will continue.
The company, a platform of managed IT services providers, has completed a recapitalization of its existing debt, with support from Auctus Capital Partners and financing provided by Aequum Capital.
Since it was founded in 2020, BrightWorks IT has grown through acquisitions, adding seven companies to its portfolio and expanding its service offerings.
The recent recapitalization aims to restructure its debt under improved terms to help its growth strategies and to better meet working capital requirements, the company said.
Executive Insight
Dustin Muscato, managing director, Auctus Capital Partners, commented:
“We are delighted to have Cloud Equity Group as our client and look forward to working collaboratively with BrightWorks IT as it emerges as a market leader at the forefront of managed services for small- and medium-sized business.”
Gary Li, vice president, Cloud Equity Group, said:
“Working with Auctus for our recent recapitalization has been an immense pleasure. The work performed by its team truly showcased a high-level of expertise, care, and commitment to this transaction. Their resourcefulness and attention to detail has not only impressed everyone involved, but also made the deal making process very smooth — resulting in a deal getting closed roughly within four weeks of term sheet signing.”
About BrightWorks IT
Brightworks IT is a network of MSPs that share resources, best practices, and expertise. The ecosystem includes:
- RAD Computing of Vernon, Connecticut.
- Integrated Enterprise Solutions of Poughkeepsie, New York.
- Data Network Services of Richmond, Virginia.
- Information Systems Division of Oneonta, New York.
- Datacomm Specialists of Cincinnati, New York.
This is Brightworks IT’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 Key Technology Solutions in December 2022 and IS Concepts in October 2022.
