PE-backed Dynamic Quest buys Nexxtep

Dynamic Quest, which is backed by Spire Capital, has acquired Valdosta, Georgia-based Nexxtep Technology Services, a managed services provider.

Dynamic Quest, which is backed by Spire Capital, has acquired Valdosta, Georgia-based Nexxtep Technology Services, a managed services provider. No financial terms were disclosed.

PRESS RELEASE

GREENSBORO, N.C., July 20, 2020 /PRNewswire/ — Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses, completed the acquisition of Nexxtep Technology Services (“Nexxtep”), a Valdosta, Georgia-based managed services provider.

Dynamic Quest, led by CEO & Founder Javier Gomez, continued with its strategic vision to expand in the Southeastern United States with the acquisition of Nexxtep. This marks the fourth acquisition for Dynamic Quest since the formation of its partnership with Spire Capital in Q2 2018.

Javier Gomez, CEO of Dynamic Quest relayed, “We continue to grow organically and are strategically executing acquisitions to add greater breadth to our services portfolio and geographic reach to better serve our clients and partners. We are excited to welcome the Nexxtep team to Dynamic Quest. The founders at Nexxtep and their team have built a great company, serving critical IT services to their clients. We look forward to continuing the high-quality relationships that Nexxtep has had with their clients while also providing their clients with a broader set of services and solutions to meet their growing needs.”

Founded in 2002, Nexxtep offers managed IT, disaster recovery and hosting services to businesses and enterprises across a wide variety of verticals. Approximately 70% of Nexxtep’s revenue is recurring with a strong, loyal customer base. The Nexxtep team members will join Dynamic Quest and add to the expanding presence to serve Georgia and Florida markets.

Paul Nichols, President of Nexxtep commented “We are thrilled to partner with Javier and Dynamic Quest. They have a high integrity culture, exceptional service and partnership to their clients, and we are proud they will continue our history of client first service with expanded offerings for our customers.”

The transaction will enhance Dynamic Quest’s market share in Georgia and provide the ability to cross-sell some services to Nexxtep’s customer base that are not currently offered. Dynamic Quest will look to leverage its infrastructure including its data center, centralized remote delivery team and sales and marketing initiatives to enhance service solutions for end clients and accelerate growth.
Frontline Capital Partners acted as buyside advisor to introduce this opportunity to Spire and Dynamic Quest.

About Spire Capital
Spire Capital (https://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 Dynamic Quest
Founded in 2000, Dynamic Quest is a managed service provider for IT services to enterprises and mid-sized businesses. Dynamic Quest offers a broad set of services including hosted cloud services, disaster recovery, managed IT, service plans, application support, virtual CIO and security services. The Company’s headquarters is in Greensboro, North Carolina. Dynamic Quest currently has satellite offices in Winston-Salem and Cary, North Carolina, Marietta, Georgia, Clark, Philippines and will be adding the Nexxtep location in Valdosta, Georgia. For more information, visit https://dynamicquest.com/ or follow Dynamic Quest on LinkedIn

About Nexxtep Technology Services
Founded in 2002 and based in Valdosta, Georgia, Nexxtep is a managed service provider for IT services to small to medium sized businesses. IT services include managed IT, security, UCaaS, disaster recovery, hosting and other critical application service. For more information, please visit www.nexxtep.com.