Managed IT services provider and technology consultant NexusTek, which is backed by private equity firm Abry Partners, has acquired ICCS & Co for an undisclosed sum.
This is technology M&A deal number 164 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.
NexusTek, founded in 1996, is based in Greenwood Village, Colorado. The company has 296 employees listed on LinkedIn. NexusTek’s areas of expertise include Managed IT Services, IT Support, Office 365, Cloud Strategies, IT Consulting, Business Consulting, Cloud Services, Business IT Security, Cyber Threat Mitigation, VoIP, Microsoft Certified Partner, and Cybersecurity Services.
ICCS & Co, founded in 1999, is based in New York City. The company has 32 employees listed on LinkedIn. ICCS’s areas of expertise include Managed Services, Information Technology, Networking, Security, Backup & Disaster Recovery, Managed Security Services, Telecom, Cloud Services, Office 365 Implementation, Cabling, Cyber Security, Hosted PBX, SOC, SIEM, Audio Visual, Video Surveillance, Virtual CIO (vCIO), and Access Control (Card Access.
In connection with the transaction, A&M Capital Strategic Investments will be leading a substantial investment into the combined business along with continued participation from Abry Partners and other investors, the companies said.
Headquartered in New York City, ICCS provides managed IT, cybersecurity, and cloud services to clients in the New York City metropolitan area. The arrangement gives NexusTek additional reach into the northeastern United States, the company said.
Co-founder and CEO Isaac Braca and his co-founder Morris Braca will become Co-Managing Directors of NexusTek's Northeast Region, reporting to NexusTek's Chief Operating Officer, Scott Ray.
NexusTek Acquires ICCS: Executive Insight
Bill Wosilius, CEO, NexusTek, commented:
"ICCS is one of the strongest performing regional MSPs we've seen and operates in the largest metropolitan area in the US, making them a perfect partner for NexusTek's expansion into the Northeast. We believe their excellent customer service and strong financial performance make them an excellent partner for us as we grow our national platform, and we look forward to bringing additional capabilities to our collective customer base."
Isaac Braca, co-founder and CEO, ICCS, said:
"I am truly excited about helping NexusTek grow beyond its already impressive national reach with our expertise in public and hybrid cloud, specifically within the legal, financial, real estate, wholesale, and manufacturing verticals. NexusTek's nationwide support infrastructure, deep bench of IT talent, and 24/7/365 service capability will benefit ICCS's customers, ensuring all their IT needs are met."
NexusTek, Abry Partners Acquisition History
NexusTek has acquired a handful of companies in recent years. The nationwide MSP acquired Notonsite in 2019. And in August of 2018, NexusTek acquired three IT services providers to help expand its MSP, IT consultation, and professional services business. Another deal involved Zumasys. In September 2020, the company acquired Symmetrix Solutions, a managed IT services provider in Denver, Colorado.
Abry Partners, meanwhile, has extensive MSP investment experience. In addition to NexusTek, the company’s MSP-focused investments include:
- February 2020: Asignet, an MSP that’s preparing to launch a robotic process automation (RPA) platform called Robot4IT.
- January 2019: Investing in Options Technology, an MSP that offers managed cloud applications to financial services firms.
