Thrive, backed by private equity firm Court Square Capital Partners, has acquired Preemo, a technology services company that offers cybersecurity, cloud and digital transformation solutions to end-customers. The financial terms of the deal were not disclosed.
This is the technology M&A deal number 154 covered by ChannelE2E so far in 2022. Check out the more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Preemo serves more than 200 businesses in multiple industries, and also has substantial expertise in the legal and private equity sectors.
Thrive has acquired more than a dozen MSPs, IT service providers and consulting firms since 2016. Other relatively recent deals include the purchase of InCare Technologies, Howard Tech Advisors, Apex IT Group, and ONI, among others.
Thrive Acquires Preemo: Executive Perspectives
In a prepared statement about the deal, Thrive CEO Rob Stephenson said:
“Preemo has a tremendous reputation built on a dedicated customer focus and core IT support. Thrive has a large number of customers in the Northeast United States moving or expanding to South Florida who will benefit from a team of exceptional technologists. of Preemo. Their clients will benefit from Thrive’s 24x7x365 SOC, cybersecurity skills, and digital transformation products and services. ”
Ivan Mladenovic, CEO of Preemo added:
“Over the past 13 years, Preemo has grown into a leader in the Southeast Florida market, delivering comprehensive managed IT services, public and private cloud, and cybersecurity solutions. Today, under the Thrive umbrella, we expand both our service offering and our geographic footprint, to deliver a unique experience for our clients in Miami, Fort Lauderdale, and West Palm Beach. We are excited about this new partnership and look forward to our strategic growth this year and beyond. ”
The Evolution of the Thrive Business and Private Equity Ownership
Private equity firm Court Square Capital Partners acquired Thrive in January 2021. Key areas of focus include: MSP’s expansion into fast -growing areas such as ServiceNow, automation, artificial intelligence and cybersecurity, it said by Thrive at the time.
Thrive’s business journey proves that MSPs, under proper ownership and executive leadership, can rise from local IT support to national prominence. For Thrive, the business trip involves several mixed years of performance under Staples ’former ownership. The turning acceleration point came in 2015, when Rob Stephenson began consulting for Thrive Networks under the direction of MetTel.
A Big Bang came in 2016, when M/C Partners acquired Thrive Networks and Corporate IT Solutions, and Stephenson was tapped to run the integrated businesses. Thrive then acquired several MSPs, before Court Square acquired the company in January 2021 to stimulate the next round of national growth.