MSouth Equity Partners has acquired Onepath -- a growing managed IT services provider and cloud specialist -- from Trivest Partners. The deal essentially recapitalizes Onepath's business for future growth -- much in the way that a consumer refinances a home mortgage to gain a range of financial benefits, notes Onepath vCIO MJ Shoer.
The deal was expected and a planned transition of funding, rather than a surprise move. Harris Williams & Co. advised Onepath on the deal. The buyer, MSouth, is aligned with Onepath's growth plan and executive leadership team strategy, Shoer says. "The business remains exciting, fast paced and growing," he adds. "It’s really a great time to be in this business."
Onepath, a 900-person business based in Atlanta, Georgia, has been growing both organically and via M&A. The company acquired Internet & Telephone earlier this year (Shoer joined Onepath via that deal). Earlier, CEO Ben Balsley joining the team through a merger with Endeavor in 2015.
ChannelE2E has exchanged emails with Balsley, and we'll likely be sharing more perspectives on the deal later and Onepath's business strategy this month. Balsley previously held key roles at Altisource, AT&T, Bellsouth and PriceWaterhouseCoopers.
Onepath's portfolio includes IT services and nationwide deployed services, backed by proprietary technology platforms. The company’s former owner, Trivest, is a private investment firm that focuses on founder- and family-owned business in the U.S. and Canada. MSouth, meanwhile, specializes in add-on acquisitions, management buyouts, and other M&A activity.
Additional insights from Joe Panettieri.
