Trending...
- FDA-Cleared Zeta TMS Robotic System Moves Toward Deployment as FDA, DARPA and Commercial Catalysts Converge: NRx Pharmaceuticals (N A S D A Q: NRXP)
- Baird Medical Turns Global Expansion Into Tangible Growth: N A S D A Q: BDMD Posts 25% Revenue Surge as U.S. and International Markets Accelerate
- Allstream Energy Partners Nominated in Multiple Categories for Fast Company's Best Workplaces for Innovators
PITTSBURGH, Feb. 6, 2023 /PRNewswire/ -- Magna5, a national provider of managed IT, cybersecurity and cloud-based services and a NewSpring Holdings platform company, has acquired the US Assets of Apogee IT Services ("Apogee"), a managed IT and cybersecurity services provider. This acquisition provides Magna5 additional scale in the Pittsburgh and Boston markets, further strengthening the company's position as a leader in managed IT services, cybersecurity, data recovery and cloud services for growing businesses.
"The demand for managed IT services continues to grow rapidly and adding Apogee's skilled team will enhance our combined services delivery experience for customers in two of our core regions," says Robert Farina, CEO of Magna5. "We're thrilled to welcome Apogee's US customers and look forward to working with them to provide an even more robust set of offerings as their trusted, outsourced IT services partner."
"We were immediately drawn to Magna5's mission to provide a holistic, client-centric approach and technical methodology to managed IT services," says Paul Cronin, CEO of Apogee. "Our customers will immensely benefit through this acquisition by gaining immediate access to Magna5's larger, more comprehensive platform and best-of-breed managed IT solution sets including network cybersecurity tools, backup and disaster recovery maintenance and IT monitoring."
More on The PennZone
This acquisition comes on the heels of a record-breaking year for Magna5. Revenue more than doubled in 2022 from the previous year and organic sales grew over 30%. In addition, over the past year, the company successfully integrated operations from its 3 previous acquisitions, TCG Network Services, Stablenet and Interphase Systems, as it strives to be the go-to managed IT services partner for mid-market companies. Other notable wins for Magna5 was its recognition by MSSP Alert as a top 250 MSSP and by Enterprise World as a Top 5 Microsoft Solutions Provider to Watch.
About Magna5
Magna5, a NewSpring Holdings platform company, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally.
More on The PennZone
About NewSpring Holdings
NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
SOURCE Magna5
"The demand for managed IT services continues to grow rapidly and adding Apogee's skilled team will enhance our combined services delivery experience for customers in two of our core regions," says Robert Farina, CEO of Magna5. "We're thrilled to welcome Apogee's US customers and look forward to working with them to provide an even more robust set of offerings as their trusted, outsourced IT services partner."
"We were immediately drawn to Magna5's mission to provide a holistic, client-centric approach and technical methodology to managed IT services," says Paul Cronin, CEO of Apogee. "Our customers will immensely benefit through this acquisition by gaining immediate access to Magna5's larger, more comprehensive platform and best-of-breed managed IT solution sets including network cybersecurity tools, backup and disaster recovery maintenance and IT monitoring."
More on The PennZone
- Her Song Lives On: Remembering Mrs. Darlene Davis Porter
- Infinity Infusion Solutions Named Finalist for D Magazine's D CEO 2026 Excellence in Healthcare Awards
- Pittsburgh Creators Launch Clever New Children's Book, "The Sock Sleuth!"
- Canadian Tint Expo 2027: Why Every Window Tinter Should Compete in Niagara Falls on April 3rd & 4th
- Building a Diversified Healthcare Platform as Exosome Science, Telehealth, Diagnostics & Strategic Acquisitions Converge: NexTel Medical (OTCID: MAJI)
This acquisition comes on the heels of a record-breaking year for Magna5. Revenue more than doubled in 2022 from the previous year and organic sales grew over 30%. In addition, over the past year, the company successfully integrated operations from its 3 previous acquisitions, TCG Network Services, Stablenet and Interphase Systems, as it strives to be the go-to managed IT services partner for mid-market companies. Other notable wins for Magna5 was its recognition by MSSP Alert as a top 250 MSSP and by Enterprise World as a Top 5 Microsoft Solutions Provider to Watch.
About Magna5
Magna5, a NewSpring Holdings platform company, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally.
More on The PennZone
- Most Indiana Plane Crashes Happen Away from the State's Major Airports
- L2 Aviation Welcomes Jason Marshall as Vice President of Sales and Business Development
- Mom Era, Still That Girl: Family Art Tees 25% Off
- Fashion vs. Fascism - Because Democracy Should Always Be In Style
- Lee Gunn IV Shares Lessons From 40 Years in the Courtroom on PodNumbra Podcast
About NewSpring Holdings
NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
SOURCE Magna5
0 Comments
Latest on The PennZone
- SMACK Fight Week Takes Over Philadelphia
- Super Rooter Expands to 190 Plumbing, Sewer, and Drain Service Locations Across the United States
- European Patent for ALS Program Expands the Story: HOPE Deploys Robotic TMS & FDA Commercialization Path Advances: NRx Pharmaceuticals: NAS DAQ: NRXP
- VICTURY Sports Announces Formation of Youth Sports League Built on the Official, Patented, and Award-Winning Keepy Uppy® Ball
- Spearmint Publishes Full Design of Its Mining Pool Before Building It, Including Legal Drafts
- Congressman Chuck Edwards (NC-11) Presents ReadyCommunities Partnership 2026 National Service Award to Local Businessman / US Air Force Veteran
- Cress Creeks Farm Opens Fall Corn Maze and Baby Lamb Hayride Experience in Ellijay, Georgia
- Brewtay Coffee Introduces Specialty Instant Line Designed for High-Velocity Commuters and Travelers
- Allstream Energy Partners Nominated in Multiple Categories for Fast Company's Best Workplaces for Innovators
- Ten Ten Ten Awards Provisional Certification to Cara AI for Home-Based Health Assessments
- IDI Consulting Partners with the American Heart Association to Advance Heart Health Awareness
- Kerri Lawless Introduces New Home-Selling Option for Local Homeowners
- Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Diversity Committee
- FDA-Cleared Zeta TMS Robotic System Moves Toward Deployment as FDA, DARPA and Commercial Catalysts Converge: NRx Pharmaceuticals (N A S D A Q: NRXP)
- Baird Medical Turns Global Expansion Into Tangible Growth: N A S D A Q: BDMD Posts 25% Revenue Surge as U.S. and International Markets Accelerate
- Shelter Structures America makes European debut at TEMPOR EXPO 2026 in Fulda, Germany
- The Culture and Travel Report Enters a New Chapter as Travel and Hospitality Brands Take Notice
- Regcrest LLC Publishes Free 50-State Tax Account Closure Checklist Tool
- HydroExcavation.com Relaunches With Exclusive Local Service Areas and Dedicated Hydrovac Manufacturer Directory
- Sky Quarry Enters a Powerful New Chapter: Refinery Restart Emminent, Nevada Oil Initiative and Visibility Put (NAS DAQ: SKYQ) in the Spotlight