Industry Related TransactionsNeovera Partners with 424 Capital
Sellside Advisor to Neovera
Neovera, a Managed IT Services Provider, Partners with 424 Capital
This strategic partnership represents the next step in Neovera’s business growth and expansion initiatives.
Charlotte, NC – Neovera, a leading consulting and managed services provider for Cloud infrastructure and Cybersecurity, announced their strategic partnership with 424 Capital. 7 Mile Advisors acted as the exclusive sellside advisor to Neovera throughout the transaction.
“We at 7 Mile are especially proud of this new partnership between Neovera and 424. The synergies and alignment of vision and strategy for the cyber sector, complementary capabilities, and cultural fit will ensure success well into the future,” remarked Mark Landry, Partner and Tim Frye, Managing Director at 7 Mile Advisors.
“Working with 7 Mile Advisors exceeded expectations. Their team provided excellent guidance and did the heavy lifting to keep the progression organized and on track throughout the process. I’m happy to recommend 7 Mile to any business for advisory or investment banking services,” said Scott Weinberg, CEO of Neovera.
The partnership will support new objectives such as the introduction of new services and technology partners, and the acquisition of new management-continued investment in the team that will elevate the brand allowing senior expertise to remain hands on with clients.
“It goes without saying that there’s a need for cyber and cloud security right now,” says Scott Weinberg, CEO of Neovera, “but there’s also a good deal of opportunity. Opportunity to architect and evolve infrastructure, conduct risk audits to identify potential vulnerabilities, and combine service solutions that combat cybercrime.”
Neovera has witnessed an uptick in the need for semi-annual data security assessments – with governance and compliance audits in different industries constantly evolving to keep pace with cybercrimes. Major brands and corporations have experienced turmoil from recent large-scale hacks, DDoS attacks, and cybersecurity threats.
“Every industry has its own requirements as it pertains to security protocols,” Weinberg continues. “It’s myopic to think that a blanket approach to cybersecurity and IT Infrastructure can be successful. That’s why our team has always steered clear of broad-strokes strategies to focus our expertise on customized security services and consulting for the individual company and industry. It’s the only way you can truly support both the company and their clientele.”
Neovera has found success in securing data and assets while bolstering business growth initiatives for sizeable institutions. Over the last year, Neovera, in partnership with AT&T Cybersecurity and Coresite, has engineered infrastructure for on-premises, cloud-based, and hybrid environments looking at vulnerabilities brought on by the remote workforce, Identity and Access Management (IAM), and the different layers of security needed for each individual employee in a company.
“Customized IT security solutions takes more than just the right protocols and compliance expertise,” explains Kyle Stanbro, Partner at 424 Capital. “There’s a need to truly understand each business’ objective and long-term strategy. Companies like Neovera are becoming increasingly important, delving into the intimate details of governance and security on state and federal levels. Neovera becomes a 24/7/365 extension of their team.”
“Cybercriminals have become less discerning in their industry of choice,” adds Ryan Child, President of Neovera. “Customization for each client is key. We approach each challenge with the idea that we must learn the ins and outs of an individual client’s business model to provide knowledgeable recommendations that encompass both their current state of business and take future initiatives into consideration.”
The collaboration with 424 Capital will elevate the Neovera brand to the forefront of data security – affording both business partners the opportunity to realize success and innovate new solutions that combat the next generation of cybercrime.
“This partnership represents more than just a financial investment for our company,” continues Stanbro. “We typically invest in people who are driven to make a difference. We recognized these qualities immediately in the Neovera team, and their commitment to elite client service. Whether a high-profile national client or a small to mid-sized business, all receive the highest level of expertise and innovative customized support from senior-level professionals.”
Neovera remains steadfast in their dedication to forming partnerships and innovating new solutions that maintain the integrity of assets and minimize company liability as cloud security comes into question with each new attack, and corporations spending millions to recover from criminal activity.
“We are confident we found the right partner, and this alliance with 424 Capital is just the beginning,” continues Weinberg. “Their vision, valuable perspective and expertise in sustainable growth strategy will guide us in this next phase of Neovera’s evolution, and we’re excited to bring a new level of service and support to our current clients. as well as new business in banking and finance.”
For more information on recent 7 Mile transactions, or to find additional resources on M&A in the MSP and Cybersecurity ecosystem, visit our website at www.7mileadvisors.com.
About 7MA
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Neovera
Neovera is a vendor-agnostic, trusted provider of managed cybersecurity and enterprise cloud services. Neovera provides solutions in hybrid, private, and public cloud environments, to enterprises globally, across industries including financial services, global media, healthcare, education, retail, technology, and non-profit. For more information, please visit neovera.com.
About 424 Capital
424 Capital is a capital partner that invests in lower middle market companies in the tech enabled services space. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. We invest in, empower, and enable companies to step up, stand out, and make a difference in the world. For more information about 424 Capital, please visit 424capital.com.
