MSP M&A: Westwood Technology Group Acquires Prototype:IT
Westwood Technology Group, backed by Evergreen Services Group, is acquiring Prototype:IT for an undisclosed amount.
This is technology M&A deal number 854 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Westwood TechnologyGroup is based in South Jordan, Utah. The company has three employees and its areas of expertise include IT services and consulting.
Prototype:IT, founded in 2005, is based in Lewisville, Texas. The company has 49 employees listed on LinkedIn. PrototypeIT’s areas of expertise include project management, disaster recovery planning, procurement, help desk support, hosted Exchange, managed offsite backup, cloud services, co-location services, system uptime monitoring, antivirus, patch management, network documentation, VoIP, internet and telecom.
Prototype:IT’s CEO, president and the rest of the team will remain in their current roles, with the company continuing to operate as a standalone entity, the company said.
This deal is the first acquisition by the newly formed Westwood, making Prototype:IT the tenth partner company within the operating group. Westwood’s partner brands included Executech, Interlaced and Integritek. Westwood, backed by Evergreen Services Group, says it will continue to pursue acquisition opportunities with companies that emphasize a culture of client success and employee development.
Westwood Acquires Prototype:IT: Leadership Insight
DJ Dorff, CEO, Westwood
DJ Dorff, CEO, Westwood, commented:
“I am excited to welcome the Prototype:IT team into the Westwood family. The team at Prototype:IT has built a great model of customer care and top-notch IT support. Prototype:IT embodies everything that we look for in a partner company. We look forward to supporting Doug and Richard’s plans for growth in their market.”
Doug Oppenheimer, CEO, Prototype:IT, said:
“We were impressed with Westwood’s unique holding approach that allows for strong local empowerment. We are excited to reap the benefits of added leadership support and thought leadership from the Westwood family of brands.”
Richard Crooks, president, Prototype:IT, added:
“We are thrilled to join the Westwood group and collaborate with their team and the other partner companies. We are confident that the added partnership and resources from the operating group will allow us to expand, grow, and thrive with our clients.”
About Evergreen Services Group
Westwood is backed by Evergreen Services Group. The firm invests in leading managed services providers throughout the United States and Canada through its regional business groups. Other MSP groupings include:
- Executech in the western United States and Canada;
- Lyra Technology Group in the northeast and midwest United States and Eastern Canada and
- Netgain in the midwestern and southeastern United States.
Evergreen, backed by private equity firm Alpine Investors, has completed nearly 50 investments in MSPs across North America since its founding in 2017. Extending beyond traditional MSPs in the SMB sector, Evergreen has also acquired MSPs focused on managed security services, managed SAP cloud applications and financial services, among other areas of expertise.
In 2021, Alpine Investors raised $2.25 billion, a portion of which has been earmarked for more MSP investments and acquisitions by Evergreen, ChannelE2E confirmed at the time of the report.
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