Press Release (ePRNews.com) - CLEVELAND - Jun 19, 2018 - Spire Capital (www.spirecapital.com) has acquired Dynamic Quest, a top Managed Services Provider in North Carolina serving clients across multiple industry sectors.
Dynamic Quest (www.dynamicquest.com), founded and based in Greensboro (NC), is an IT Managed Services business focused on providing strategic technology solutions. Their core business model is built around recurring revenue-based services within Managed IT, Managed Cloud Hosting, Managed Security, Managed Backup and Disaster Recovery. Dynamic Quest’s partners include Microsoft, Dell, Cisco, and Citrix, and the company has received a multitude of industry awards and recognition.
Spire Capital is a private equity firm specializing in the lower middle market and focused exclusively on the Technology Enabled Business Services, Media, Education, and Communications sectors. Since its founding in 2000, Spire Capital has managed more than $900 million in private equity commitments, invested in 26 platform companies, and has consummated more than 90 add-on acquisitions.
Once we decided to sell, IT ExchangeNet did a great job identifying an exceptional set of buyers for our fast-growing MSP. They generated interest from more than 40 qualified buyers, introducing us to a focused subset who knew the MSP space well and were a strong cultural fit for our team. Their well-organized process kept us on track and exceeded our expectations on transaction value.
The transaction was facilitated by IT ExchangeNet, a leading IT mergers, and acquisitions firm specializing in Managed Services Providers (MSPs), IT Services and Software-as-a-Service.
“Once we decided to sell, IT ExchangeNet did a great job identifying an exceptional set of buyers for our fast-growing MSP. They generated interest from more than 40 qualified buyers, introducing us to a focused subset who knew the MSP space well and were a strong cultural fit for our team,” said Javier Gomez, CEO of Dynamic Quest. Javier added, “Their well-organized process kept us on track and exceeded our expectations on transaction value.”
Tim Mueller, President of IT ExchangeNet said, “It was clear to us that Spire Capital would be a strong and active financial partner for DQ. Additionally, Javier and his partners unlocked value that they have built over 18 years, and their employees now have a wonderful opportunity to be part of something even larger. A great win-win for everyone.”
About Dynamic Quest: Founded in 2000, Dynamic Quest (www.dynamicquest.com) is a managed service provider for IT services to enterprises and mid-sized businesses. The Company’s services include hosted cloud services, disaster recovery, managed IT, service plans, software maintenance, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina and houses a data center facility that was built in 2007. Founded in 2000, Dynamic Quest currently has 119 full-time employees and satellite offices in Winston-Salem and Cary, North Carolina and Clark, Philippines
About Spire Capital: Spire Capital (www.spirecapital.com) is an active and experienced private equity firm with an investment focus in small market companies within the technology-enabled business services, media, communications, and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About IT ExchangeNet: Founded in 1998 by technology CEOs and M&A professionals, IT ExchangeNet is an organized and efficient marketplace for owners of mid-market IT businesses seeking buyers or strategic partners. IT ExchangeNet follows a disciplined and highly targeted process, bringing buyers and sellers together to close deals with transaction values up to $25 million.
IT ExchangeNet owns a network of more than 50,000 global IT decision makers. Focusing on smaller companies that are historically ignored by large investment banks and M&A advisors, IT ExchangeNet leverages industry knowledge and relationships to work with companies that are ready to be sold, and buyers that are ready to buy. Specific segments of the IT industry served include Managed Services, Software as a Service (SaaS), Hosting, Infrastructure as a Service (IaaS), CyberSecurity, IT Services, Software Development, and Big Data.
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