Trending...
- SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
- Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
- Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
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
- Joulescope JS320 Launches to Help Engineers Develop Battery-Powered Devices with Greater Confidence
- Ghanaian Afrobeat Artist Praise Kusi Announces Upcoming EP "After 21:00" Releasing July 3, 2026
- Translational Scientist Roohid Parast Comments on FDA Approval of Icotrokinra for Psoriasis
- TURRENTINE: A Family Legacy United Through Music
- Save 10 Percent Off Summer Stays at KeysCaribbean Resorts
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
- CGI Announces Pre-Order Launch for New Integrated Behavioral Health Book
- IDI Consulting Supports Crohn's & Colitis Foundation as Silver Sponsor for Pittsburgh Take Steps Walk
- Prince George's County Students Now Have A Rare Opportunity In TV Film Production Career-readiness
- City of San José Could Lose Access to Millions Under New CalEnviroScreen Tool 5.0
- This Weekend Causeway Cove Country BBQ & Music Festival Returns for Fourth Year, Celebrating America's 250th Anniversary on the Water
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
- Century Fasteners Corp. Exhibiting at 2026 Farnborough International Airshow
- Compton to host first Juneteenth celebration with We Are Us Festival
- Wayne Homes Refreshes Its Pittsburgh Area Model Home Center Page
- DuoKey Launches Quantum Risk Score to Help Enterprises Prioritise Post-Quantum Cryptography Migration
- Top 5 Most Reliable Used Vans in the UK in 2026
- Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
- Roohid Parast on How AI Is Changing What Bench Scientists Can Do
- What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
- Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
- Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
- SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
- Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
- A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
- Lighthouse 153 Brings Fresh Seafood, Craft Beer, and Coastal Charm to Downtown Hanover This Summer
- Inframark–Slater Joint Venture Selected to Manage Fulton County Wastewater Operations
- Cancun International Airport Reports Strong Start to Summer 2026 Travel Season
- Freedomtech Solutions Launches the World's First Pre‑Installed Agentic AI Server — Instant, Sovereign, Infrastructure‑Native Intelligence
- GitKraken Introduces Code Flow, a Framework for Software Development in the Agentic Era
- Nola Blue Records announces new album from The Anthony Paule Soul Orchestra featuring Willy Jordan
- RIGHT CARS Announces Landmark African Expansion Through Strategic Collaboration Agreement Across Eight Nations