Trending...
- Affordable Braces in Allentown Made Accessible Through Exeter Smiles' Flexible Payment Options
- New Metallized PE Film from Pregis Brings Recyclability to High-Barrier Food Packaging at Pack Expo International in Chicago
- PropAccount.com Launches Marketing Hub Within PropGenie, Giving Prop Firm Operators an Automated Marketing Team
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
- Genuine Hospitality, LLC Selected to Operate Fairfield Inn & Suites Tampa Wesley Chapel
- Pregis to Highlight EPR Expertise, Sustainable Packaging Solutions and Live Automation Demonstrations at Pack Expo International 2026
- Infinity Infusion Solutions Launches "Women Leading Infusion Care" Campaign for National Women in Business Month
- HuskyTail Digital Puts AI to Work Behind the Scenes to Cut Client Turnaround Time
- AI, Real-World Data "RWD" and U.S. Expansion Put Predictive Healthcare in Focus for POMDOCTOR Ltd. (N A S D A Q: POM)
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
- $11.18 Million DARPA Award Ignites a Major New Catalyst as FDA, Robotic TMS and Commercialization Milestones Converge for NRx Pharmaceuticals, Inc
- Dave's Auto Services Launches Free Seven-Week Fall Maintenance Series for Boyertown-Area Drivers
- P-Wave Classics to publish Thomas Holcroft's The Adventures of Hugh Trevor in three volumes, beginning 19 January
- Ad Leverage Sponsors ServiceTitan Pantheon 2026, Supporting Education and Growth in the Home Services Industry
- From Newcomers to Neighbors: LINC Celebrates the People Who Make the Valley Home
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
- Derek Cook's Roofing Encourages Homeowners to Prepare for Fall Weather
- Boston Industrial Solutions Expands Product Offering with Pad Printing Pads and Silicone for Custom Pad Manufacturing
- Rodeo FX Originals Appoints Yvann Thibaudeau Head of Development & IP
- Phoenix 5/7 Emerges as a Genre-Fluid Artist Collective
- Massage Revolution Expands to Santa Monica With New Wilshire Boulevard Location
- "Warrior Defined" Event Brings Men Together in Charlotte, With Calls for Events Across the U.S
- Dion Abadi Publishes Free Collector Tips Hub for Art and Jewelry Buyers
- World-Renowned Body Language Expert Mark Bowden Headlines INSPIRE Northwest 2026 in Wenatchee, WA
- ASN Software Introduces New California CARS Act Dealer Updates
- USA Air Management Marks 30 Years of Air Duct Cleaning in NJ Urges Homeowners to Schedule Dryer Vent Cleaning Before Heating Season
- Dr. Jay Johannigman Returns to Cincinnati Following 46 Years of Military Service
- Mud Morganfield Bares His Soul on 7" Single, 'Deep Gospel'
- Allstream Energy Partners, SEO Experts in Oil and Gas, Awarded Gas Processing OEM Agreement
- Growth Story Expands: $54.6M Contract, $30M Revenue Run Rate, 800+ Customers, 50+ Patents & New AI Cybersecurity Products for Cycurion, Inc $CYCU
- Sky Quarry Restarts Nevada's Only Crude Oil Refinery — A Major New Chapter Begins in This Highly Lucrative sector for N A S D A Q: SKYQ
- Nutriband Inc. (N A S D A Q: NTRB) Breaks Into Uncharted Territory: 52-Week High Eclipsed as Shares Surge 22% —AVERSA™ Puts Investors on High Alert
- Jacqui Condon Selected to Workers' Compensation Panels for Three Professional Athlete Associations
- New Metallized PE Film from Pregis Brings Recyclability to High-Barrier Food Packaging at Pack Expo International in Chicago
- Transformational $104 Million Musculoskeletal Healthcare Opportunity as Expansion Strategy Accelerates for Cardiff Lexington Corp (Stock Symbol: CDIX)
- Affordable Braces in Allentown Made Accessible Through Exeter Smiles' Flexible Payment Options