Trending...
- Pawprint Oxygen Turns Pet Safety Viral With "Pets Live Here" Window Decals — Helping First Responders Save Lives
- Elizabeth McLaughlin, Founder and CEO of Red Wagon Group, named 2026 Presidential Leadership Scholar
- PebblePad Acquires myday to Deliver Unified Digital Campus Experiences for Student Success
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
- CryptaBox Introduces a Hardware Crypto Cold Storage Wallet
- YWWSDC Launches AI-Native Digital Asset Infrastructure, Merging Technical Innovation with US-Standard Compliance
- High-End Exterior House Painting in Boulder, Colorado
- Simpson and Reed Co-Founders Shardé Simpson, Esq. and Ciara Reed, Esq. Launch "Hello Wilma,"
- Report Outlines Key Questions for Individuals Exploring Anxiety Treatment Options in Toronto
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
- Rande Vick Introduces Radical Value, Challenging How Brands Measure Long-Term Value
- Lisa Mauretti Launches Peace of Mind Travel Coaching to Guide Fearful Travelers to Discover the World with Confidence
- New Year, New Home: Begin 2026 at Heritage at South Brunswick
- Food Journal Magazine Releases Its 'Best Food In Los Angeles Dining' Editorial Section
- Enders Capital: 25% Gains with Just -0.80% Maximum Monthly Drawdown in Volatile Debut Year 2025
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
- Talented Learning Unveils 2026 "Office Hours for LMS Buyers" Webinar Series
- New Analysis Reveals Most Patients Discontinue Weight Loss Drugs Within First Year
- Bargeld Financial Launches Professional, Affordable Tax Preparation Services for the 2026 Tax Season
- International Law Group Expands Emergency Immigration Consultations for Somali Minnesotans Amid ICE Actions
- Premium Bail Bonds Proudly Sponsors BOFAB BBQ Team at the 2026 Lakeland Pigfest
- UK Financial Ltd Receives Recognition In Platinum Crypto Academy's "Cryptonaire Weekly"
- Nell Tice Empowers Small Businesses Through Strategic Video Production
- P-Wave Press Announces Pushing the Wave 2024 by L.A. Davenport
- Preston Dermatology & Skin Surgery Center Wins Gold and Bronze in Prestigious Annual DIAMOND Awards
- David Boland, Inc. Awarded $54.3M Construction Contract by U.S. Army Corps of Engineers, Savannah District
- Pawprint Oxygen Turns Pet Safety Viral With "Pets Live Here" Window Decals — Helping First Responders Save Lives
- "Phinge Unveil™" Coming to Las Vegas to Showcase Netverse Patented Verified App-less Platform, AI & Modular Hardware Including Developer Conferences
- Elizabeth McLaughlin, Founder and CEO of Red Wagon Group, named 2026 Presidential Leadership Scholar
- U.S. Congressional Candidate Peter Coe Verbica on America's Asymmetric Crisis
- Jones Sign Rebrands as Jones to Reflect Growth, Innovation, and Expanded Capabilities
- $1 Million Share Repurchase Signals Confidence as Off The Hook YS Scales a Tech-Driven Platform in the $57 Billion U.S. Marine Market
- Trends Journal's Top Trends of 2026
- CollabWait to Launch Innovative Waitlist Management Platform for Behavioral Health Services
- Urban Bush Women Celebrates Bessie Award Nominations & Winter 2026 Touring
- Imagen Golf Launches "Precision Lessons" with Trackman iO in Newtown, PA