Upstack, which is backed by Berkshire Partners, has acquired Deerfield Beach, Florida-based Universal Solutions Providers LLC, an IT managed services provider. No financial terms were disclosed. Upstack is backed by MidCap Financial and Morgan Stanley Private Credit.
NEW YORK (PRWEB) APRIL 07, 2022
UPSTACK, a fast-growing platform that transforms the way businesses design and select internet infrastructure solutions, announced today that it acquired Universal Telecommunications Inc., a full-service telecom agency, and its sister company, Universal Solutions Providers LLC, an IT managed services provider (MSP), collectively known as Universal, the Communications Company. The terms of the transaction were not disclosed.
Universal, based in Deerfield Beach, Fla., provides private and public sector businesses with IT, network and voice solutions backed by professional project management and 24/7 support.
“Universal is one of the few organizations to deliver on the promise of telecom and IT convergence for their business clients. What’s more, they’ve been doing so for a decade,” said UPSTACK Founder and CEO Christopher Trapp. “They’re true innovators. That, along with their commitment to unparalleled service, make Universal an exciting addition to the UPSTACK team.”
As part of the investment, Universal’s Managing Member Mervyn Gervis will join UPSTACK as a Partner with the company’s additional leadership team members, Phil Liberty and Judi Mitchell, slated to serve in senior roles within the new organization.
Gervis was drawn into a telecom agency opportunity as a second career after immigrating to the U.S. from South Africa. He founded Universal Telecommunications in 1996 as a long-distance agent. He brought in Liberty and Mitchell to the team for their experience in selling local telephone services to businesses. Today, the company provides a range of voice, data and cloud-based communications services.
In 2012, to meet the needs of several existing clients, the company’s leaders launched Universal Solution Providers to deliver managed IT services. USP offers server to desktop management, cyber and network security, cloud IT and data center services.
“Our two entities give us the ability to help a valued client through the highly technical issues of today’s environment and provide solutions that fully support carrier to end-user complete communications,” said Gervis. “We have many loyal, long-time clients who look to our team as their ‘virtual CIO’ and value our personalized, dedicated service.”
After two successful careers, Gervis began exploring ways to exit the business while creating continuity for the company, employees and customers. He met with potential investors and was immediately drawn to UPSTACK’s vision, success and similar dedication to customer service.
“Moving forward, we believe UPSTACK’s infrastructure and operational support, such as order processing and project management, will greatly expand our team’s ability to focus on new clients with added solutions,” said Gervis. “We are poised for growth, knowing with confidence that our shared value for long-term commitment to clients matches that of the UPSTACK team.”
The investment in Universal is part of UPSTACK’s continuing strategy to accelerate the growth of its industry-transforming platform, which combines leading internet infrastructure advisors with proprietary software and support resources. Building on an earlier equity investment from Berkshire Partners, UPSTACK secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit to further scale its platform through technology expansion and strategic partner investments.
About Universal Telecommunications
Universal, the Communications Company, delivers managed communication services, including server-to-desktop management, email management, infrastructure, cyber and network security, cloud and data center services. Universal offers carrier-network services, including fiber, broadband, fixed wireless, and business communications. Universal’s services include UCaaS, CCaaS, SD-WAN, mobility solutions and managed support. For more information, visit universal-tel.com.
Launched in 2017 in New York, N.Y., UPSTACK is transforming the way internet infrastructure is sourced and sold. Through a powerful combination of the industry’s leading advisors, advanced technology, and dedicated customer support resources—UPSTACK uses actionable business intelligence to architect and source customized technology solutions for businesses of all sizes. With UPSTACK, business buyers streamline IT procurement by tapping into a single source for mission-critical technology services from hundreds of proven providers, along with the professional guidance to identify and evaluate the best solutions. UPSTACK’s service portfolio includes colocation and data center, network connectivity, SD-WAN, unified communications, cloud contact center, private and public cloud, security, mobile, business continuity and IoT. For more information, visit us at upstack.com.