US: Perpetual Capital Partners acquires Novatech
September 4, 2024
The private equity firm has made a move in the managed services sector.
Perpetual Capital Partners has announced the acquisition of Novatech Inc., a growing provider of Managed Office Solutions in the U.S., positioning itself to capitalise on an increasing market for integrated technology services. The deal terms were not disclosed, but the acquisition marks a significant step for both companies as they look to enhance their capabilities and national presence.
Based in Arlington, Virginia, Perpetual Capital Partners operates as the private investment arm of Perpetual Capital, a single-family office investment firm known for its long-term, evergreen investment strategy. The firm seeks to partner with businesses with strong leadership and long-term growth potential.
Founded in 1998, Novatech Inc., headquartered in Nashville, Tennessee, offers comprehensive Managed Office Solutions, which include IT, print, cloud, and cybersecurity services. The company is well-known for serving as a single point of contact for business technological needs, simplifying operations, and reducing client costs.
“We are excited to welcome Novatech to our family of businesses,” said Duncan Evans, CEO of Perpetual Capital Partners, in a statement. “This transaction aligns perfectly with our strategy to invest in high-quality companies with strong leadership and growth potential. We believe our long-term focus, corporate resources, and strategic expertise will provide an expanded platform for Novatech to support its growth and serve its customers.”
Dan Cooper, CEO of Novatech, expressed optimism about the acquisition, stating, “We are thrilled to join Perpetual Capital Partners. Their investment is a testament to the strength of our business and team. With their support, we are confident we can accelerate growth, expand capabilities, and continue delivering exceptional value to our customers.”
Novatech has performed strongly in recent years, focusing on geographical and service expansion. In 2020, the company acquired United Laser, a nationwide Managed Print Services provider, and has since expanded its operations with the 2022 acquisitions of South Carolina-based ManagedPrint, specialising in MPS and the purchase of Florida-based Atlantic Business Systems, a provider of Managed IT, Managed Print, and document management solutions.
Categories : World Focus
Tags : Acquisition Business Novatech Inc Perpetual Capital Partners USA
