Industry Related TransactionsOmega Systems Consultants Partnered with Pfingsten Partners
7 Mile Advisors Completes 2nd MSP Transaction This Year
CHARLOTTE, NC — Omega Systems Consultants, Inc. (“Omega”), a Pennsylvania-based managed service provider (“MSP), has partnered with Pfingsten Partners, a Chicago-based, operationally-focused private equity firm. 7 Mile Advisors acted as the exclusive sellside advisor to Omega throughout the transaction. This marks the firm’s second IT Services MSP transaction this year.
“Strategy, vision, and culture are truly aligned between Omega and Pfingsten. We are excited to watch their shared ambitions unfold into the future,” 7 Mile Managing Director Mark Landry commented on the transaction.
7 Mile Senior Director Tim Frye added, “The 7MA team is grateful for opportunities to support clients like Bill and Jen Kiritsis, who have built outstanding businesses and have exciting growth aspirations. Omega’s partnership with Pfingsten is a key milestone in the progression of Omega’s expansion strategy, and we look forward to tracking its continued success.”
“We recognized how Omega Systems would stand out from the rapidly growing MSP crowd based on their fantastic security automation technology, financial strength, and market position in several attractive client industry verticals. 7 Mile’s deep experience with buyers and investors in this segment allowed us to effectively align Omega’s strengths with several parties in order to produce a truly compelling opportunity with Pfingsten,” said 7 Mile Partner Andy Johnston.
Omega provides managed IT solutions, including cloud-based data hosting, incident management, cybersecurity, help desk support, storage, backup, disaster recovery, hosted infrastructure support, and network health monitoring. The Company also provides professional IT support services and hardware and software configuration. Omega serves small and medium sized businesses within financial services, insurance, manufacturing, healthcare, professional services, education, and local government industries. The Company brings enterprise-caliber IT solutions and support to organizations facing demanding data processing and compliance requirements.
“Pfingsten’s focus on culture, innovation, and growth make them the ideal partner for our business,” said Omega Founder, Bill Kiritsis, who, along with Co-Founder Jennifer Kiritsis, retained significant equity ownership in the Company.
“We are thrilled to partner with a rapidly growing company like Omega and support their next phase of growth,” said Phillip Bronsteatter, Managing Director at Pfingsten. “We started to pursue a platform investment within managed IT services over 18 months ago, and Omega is a perfect match to our criteria. We look forward to building upon Omega’s success with additional support and resources and actively pursuing strategic add-on acquisitions.”
For more information on M&A trends in the MSP space visit www.7mileadvisors.com.
About 7 Mile Advisors
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, as well as 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 Omega Systems
Omega Systems’ vision is to fundamentally change the way you view your business’ technology – unleashing your maximum potential in an ever-changing, continuously-connected world.
Omega Systems focuses on building client-partnership experiences by providing personalized, best-in-class Private Cloud Solutions, Cybersecurity, Managed Services and Disaster Recovery Solutions. All cloud services are professionally maintained, and supported through our on-premises Data Center by our expertly trained staff, providing personalized, hands-on data management, and security above the industry standard. Omega Systems’ cloud hosting solution is designed to reduce overall IT costs by providing a “grow as you go” IT business strategy. Omega Systems provides the necessary experience and expertise for successful business cloud management and deployment. Our team has been delivering Hosting IT Services to SMB and Large Enterprises for over 10 years and as a cloud hosting partner, your data will be locally stored and maintained at Omega Systems’ secure, on-premises, state of the art Tier 3 data center. For more information visit omegasystemscorp.com.
About Pfingsten
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 144 manufacturing, distribution and business services companies. For more information, visit pfingsten.com
IT Services M&A Transactions | Consumer M&A Transactions | LatAm M&A Transactions | Eastern Europe M&A Transactions | Healthcare M&A Transactions | Insurance M&A Transactions
