Lightview Capital has exited NexusTek as a result of Abry Partners‘ recapitalization of the Denver-based IT services and consulting firm. No financial terms were disclosed.
NEW YORK (PRWEB) DECEMBER 15, 2017
Lightview Capital, announced today that it has completed a recapitalization of NexusTek, a leading Denver-based IT managed services firm providing services throughout the west, to Abry Partners, a Boston-based private equity firm. Headquartered in Denver, NexusTek provides regional IT support and outsourcing including help desk, cloud services, VoIP, cyber security services, server monitoring and Microsoft Dynamics 365 CRM services to small and medium-sized business (SMBs).
With two fully staffed, geographically diverse, Network Operations Centers (NOC), designed for business continuity and operating 24 hours a day, NexusTek provides quality IT support and monitoring to its expanding client-base. Rich Erickson, Managing Director at Lightview Capital commented “NexusTek’s business has rapidly evolved during its partnership with Lightview, starting from our initial investment in a bootstrapped founder-led MSP in Denver to becoming the leading MSP in the Mountain West region.”
Since 2014, when Lightview Capital along with its co-investors, bought majority control of NexusTek, the company has nearly tripled in revenue and profitability. Today, Nexustek serves over 1,000 customers and has 100+ employees. Conor Mullett, Managing Director for Lightview, added: “The company operates in a multi-billion dollar, highly fragmented industry ripe for consolidation. Enhancing the NexusTek’s ability to scale and helping the business to expand through M&A with 3 acquisitions in the past several years in Denver and Phoenix was paramount to our strategy in building the company.”
Mike Jenner, NexusTek’s Chief Executive Officer, joined the firm through the acquisition of Illumen and led the execution of the growth strategy. Jenner commented, “Lightview has proven to be a trusted and valuable partner. With their support, our management team realized significant improvements in the business in a relatively short period of time. We are very appreciative of their contribution to our business. We even managed to have a little fun along the way.”
About Lightview Capital
Lightview Capital is a leading private equity firm serving technology and business services sectors in the lower middle market. Lightview is focused on providing its portfolio companies deep industry knowledge, insightful experience, and active resources to unlock growth and drive value. Lightview Capital’s approachable investment style combines deep operational and financial experience with an entrepreneurial spirit that delivers measurable results.
Headquartered in New Jersey and founded in 2012, Lightview Capital founders have successfully led direct investments in more than 20 companies over 75% of which have led to IPOs or strategic exists. Over the course of their combined 50+ years of experience, they have founded and managed both operating businesses and investment firms where they were instrumental in raising over $500 million from leading institutional investors.
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.