Abry Partners Merges NexusTek with Breakthrough Technology Group
Through continued acquisitions and organic growth, the combined entity will emerge as a leading national cloud and managed service provider
Denver, CO and Morganville, NJ (May 17, 2018) Breakthrough Technology Group (BTG) and NexusTek today announced that the two companies have merged, integrating two of the nation’s top service providers. Effective April 3, 2018, the combined entity will be marketed under the NexusTek brand and bring to market an unrivaled portfolio of customizable solutions that can address the critical touchpoints in an organization’s technology environment.
Founded in 1989, Abry Partners is an experienced media, communications, business and information services-focused private equity investment firms in North America. In December 2017, the Boston-based private equity firm made a majority investment in BTG and completed a recapitalization with NexusTek.
NexusTek’s impressive growth trajectory reflects an aggressive strategy to increase marketshare through both organic and inorganic means. The company’s merger with BTG is its fourth M&A transaction in less than four years, and the first of several planned for 2018.
“Abry believes that as businesses continue struggling with their cloud migrations, there is an immediate opportunity for a service provider to distinguish itself as the single partner that can help them navigate an increasingly turbulent and complex environment,” said James Scola, a principal with Abry. “By merging BTG with NexusTek, we hope to empower organizations with a nationwide partner that allows them to increase their competitive advantage with technology. NexusTek will be unique in its ability to answer this demand and will emerge as a leading national cloud and managed service provider.”
Inclusive of the merger with BTG, NexusTek has grown at a CAGR of 34% over last three years and currently serves more than 1,200 organizations. Together, the companies will accelerate growth by delivering better service, a leading service portfolio in the industry, and faster product development which will empower customers to keep pace with the rapidly evolving cloud and cyber security environment.
“Businesses today need IT solutions that are convenient, flexible and purpose-built for their specific workflows,” said NexusTek Chief Executive Officer, Mike Jenner. “Agility is paramount in every industry, and successful companies that stay ahead of their competition are the ones that can adapt to changes in the marketplace without sacrificing productivity.”
Headquartered in Denver, NexusTek is the market leader for IT support and outsourcing including help desk, cloud services, VoIP, cyber security services, server monitoring and Microsoft Dynamics. NexusTek serves businesses across the country, providing IT solutions and professional recommendations to strengthen the customers IT infrastructures. By virtue of its SSAE 16 SOC II certification, NexusTek proves its adherence to rigorous, industry-accepted auditing standards for service companies.
BTG, headquartered in New Jersey, is a market leading, national managed private cloud service provider that supports customers’ business and compliance needs, regardless of industry, in flexible, dedicated environments. Adaptable Cloud Services, the company’s private cloud services portfolio, is hosted in geographically redundant SSAE 16-certified data centers that leverage a software-defined architecture to bring together storage, compute, and other elements into a single solution optimized for managing customized enterprise workloads in the cloud. Also setting BTG apart from ‘infrastructure-only’ service providers, is an expansive solutions portfolio layered on top of its converged infrastructure. Enhanced monitoring provides the unfettered visibility to ensure that customers’ applications perform optimally.
“Realizing that customers today want IT services that are delivered simply and suit their specific needs, allows us to help them extract true value from their technology,” said BTG Founder, Jeff Kaplan, who is now Chief Revenue and Strategy Officer for NexusTek. “Through this union, NexusTek is uniquely equipped to help companies small and large increase productivity, lower costs and improve business outcomes. Further, the ability to pivot operations is essential in regulated industries like financial services and healthcare, in which remaining compliant can be a moving target.”
About Breakthrough Technology Group, LLC.
Founded in in 2007, Breakthrough Technology Group (BTG) is an award-winning managed private cloud service provider that maintains a singular focus on supporting enterprise workloads and IT services. The company empowers its small, mid-market and enterprise customers with agile, cutting-edge technology coupled supported by a veteran team whose expertise includes cloud-based desktops and storage solutions, SaaS, IaaS, remote monitoring and end-user IT. BTG is perennially ranked as a Talkin’ Cloud Top 100 Cloud Company, has twice been honored with the Cloudys Award for the Most Innovative Cloud Provider, and is a fourtime winner of Channel Partners 360 Business Value Award. BTG has also been honored as an MSPmentor 250 managed services provider.
NexusTek, an award-winning Microsoft Gold Partner, provides small and medium-sized businesses a trusted resource to optimize and manage their IT environments, ensuring business continuity and driving productivity. From managed IT services to cloud solutions and customized business software implementations, NexusTek employs top talent, offers personalized attention, and brings nearly 22 years implementing technology best practices for companies across Colorado, Arizona and the region.
About Abry Partners
Abry is one of the most experienced and successful media, communications, and business and information services sector focused private equity investment firms in North America. Since their founding in 1989, they have completed over $62 billion of leveraged transactions (including many roll-up investment strategies) and other private equity, mezzanine or preferred equity investments. Currently, they manage over $5.0 billion of capital in their active funds.
Abry seeks to maximize the value of its investments by concentrating on certain industry sectors where they have substantial operating and investment experience. Because ABRY brings deep industry insight to the investment process, they are able to quickly understand key issues, accurately assess opportunity, value, and risk, and bring relevant information to bear. They partner with skilled executives and invest significant capital to help build stronger companies and industry leaders.