Data center maintenance company Service Express, backed by private equity firm Harvest Partners, has acquired Blue Chip, a United Kingdom-based third-party maintenance (TPM) and managed services firm. Terms of the deal were not disclosed.
This is M&A deal number 107 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Service Express is a portfolio company of private equity firm Harvest Partners. Based in New York, Harvest invests in middle-market companies in the business services and consumer, industrial services, healthcare, manufacturing and distribution and software sectors.
Service Express Acquires UK's Blue Chip
Founded in 1993, Service Express provides third-party, post-warranty data center maintenance services, delivering on-site hardware maintenance for mission-critical servers, storage and networking equipment. The company has more than 50 offices across the United States and partnerships around the world. This is Service Express’ fifth acquisition and its first international deal.
The addition of Blue Chip, which was founded in 1987, will help fuel Service Express’ organic growth and future acquisitions, the company said. Its strategy will be especially focused on the EMEA region, complementary to its existing U.S. M&A strategy, Service Express said. The transaction will also enable Service Express to offer Blue Chip's managed services expertise to its major enterprise customers both in the U.S. and abroad, while increasing Service Express’ business by 40 percent, the company asserts.
Service Express Acquires Blue Chip: A Joint Vision
Ron Alvesteffer, president and chief executive officer of Service Express, commented:
"Our acquisition of Blue Chip in many ways formalizes the two companies' existing multi-year partnership. Our culture of growth, employee engagement, and differentiated customer experience aligns well with Blue Chip's great reputation for building a talented and dedicated team that places customers at the heart of their service. The addition of Blue Chip enables our joint vision of growing a global portfolio to provide the best experience for our customers, partners, and employees."
Andy Rounding, finance director at Blue Chip, said:
"We're very pleased to be joining the Service Express team and helping to establish an even greater global leadership position. We are also proud to carry on Blue Chip founder Brian Meredith's legacy of an unwavering passion for exceptional customer service delivered by the very best people. His imprint on our company will continue to be instrumental in our united path forward. We will continue to execute on our core principles, alongside Service Express, through our shared commitment to surrounding ourselves with talented people who provide exceptional customer experiences."
Stephen Fessler, principal at Harvest and a board director at Service Express, added:
"This is an exciting new chapter for Service Express, as the company establishes its international beachhead. This combination is the natural extension of the close relationship the two companies have formed over the past two years, and we see this acquisition as a win-win for both companies and for their respective customers, who will benefit from expanded global capabilities and continued consistent, superior service."
Alvesteffer will serve as president and CEO of the combined company and will look to build around the current Blue Chip leadership team, the company said.
