Trending...
- Alcoa Announces Closure of Intalco Smelter and Prepares Site for Redevelopment
- Pennsylvania: Gov. Shapiro Highlights Plans to Rebuild Workforce, Recruit More Teachers into PA Classrooms During Visit to Philadelphia High School
- Empowering SMEs: Innervation's Supply Chain Finance Solutions for Diverse Business Growth
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
More on The PennZone
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.
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
- Announcing the Dr. Monti Show on Integrative Health and the Intersection of Science, Health, and Personal Well-Being, Premiering March 24, 2023, at 7:30pm
- Dental Implants in Center Valley Helping Patients Achieve Fuller Smiles
- Wohler releases out-of-band configuration tools for Riedel 2110 SFP's
- Benjamin Ross Group, LLC Sells Manufacturing Company, Frederick County, VA
- Levinger Regens Announces New Initiative to Improve Hydrogen Carbon Intensity
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
More on The PennZone
- Eve Wellness, a SF Breast Ultrasound Screening Clinic supports the recent FDA updates to the guidelines to inform women about breast density
- Strategic Solution Partners Expands Its Hospitality Consulting Team to make Executive-Level Advice Available to Hotel Operators
- Expert tip: Private Jet Engine Maintenance Program - Pros and Cons for Preowned Jet Buyers
- Gaming and entertainment company Spinrack Corporation, appoints Jesse Norton as Chief Marketing Officer
- Pizzawiki.com: The Ultimate Pizza Resource for Pizza Lovers Everywhere!
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.
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
Filed Under: Business
0 Comments
Latest on The PennZone
- HGR Alcohol Detox Centers in San Diego Accepts Most Health Insurances
- INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Fidelity National Information Services, Inc. (FIS) Investors
- ShopCHARLI.com Launches Online Store With a Hot New Spring Collection that Doesn't Miss
- ICYMI: Governor Shapiro Touts His Plans to Rebuild Pennsylvania's Workforce, Recruit More Teachers, Cops, & Nurses
- Bounce House Rentals Near Me Provider for Pittsburgh PA And Surrounding Areas
- Pennsylvania: Governor Josh Shapiro Highlights Commonsense Proposal to Recruit More Nurses, Invest in Healthier Communities
- Congressman Mark Alford endorsed by Veterans for Trump on his 2024 re-election
- February 2023 Financial Market Review
- Bicycle Sunshade Expands Product Line with Two New Colors
- The Past Reflects A Future - Daniel Imperato 2024 Is Back Again. Which Party?
- Performance Hydration Leader Ready® Joins Global Tennis Market
- INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation of Marathon Digital Holdings, Inc. (MARA) on Behalf of Investors
- Fridge Art Fair New York City May 2023
- Empowering SMEs: Innervation's Supply Chain Finance Solutions for Diverse Business Growth
- AdvisorVault Partners With Compliant Workspace to Help FINRA Firms Achieve 17a-4 Compliance on Microsoft 365
- Alcoa Announces Closure of Intalco Smelter and Prepares Site for Redevelopment
- Pennsylvania: Governor Josh Shapiro Highlights Commonsense Proposal to Recruit More Police Officers and Invest in Public Safety at Lackawanna College Police Academy
- Pennsylvania: Gov. Shapiro Highlights Plans to Rebuild Workforce, Recruit More Teachers into PA Classrooms During Visit to Philadelphia High School
- RE/MAX Classic Realtors Announces Top Honors for Their High Achieving Real Estate Teams
- Free Training From The Tax Lien Lady – Tax Lien Investing 3-Day Challenge!