Salt Creek Capital has acquired Newton, Pennsylvania-based IT Assist Inc, a provider of outsourced technology services and IT consulting to companies. No financial terms were disclosed.
PRESS RELEASE
Woodside, California (July 1, 2020) – Salt Creek Capital is pleased to announce the acquisition of IT Assist, Inc. (“IT Assist”), a leading provider of outsourced technology services and IT consulting to companies headquartered in the greater Philadelphia metro area. Founded in 2011, IT Assist is the number one franchise operator for TeamLogic IT, the largest franchisor of managed IT services with over 200 locations in the U.S.
Stewart and Nancy Paul, founders of IT Assist, stated “Founding and leading the growth of this Company within the TeamLogic IT network has been an incredible experience. We are pleased to have worked with Salt Creek Capital and Pratik Roychoudhury on this transaction and am confident that together they will improve and expand IT Assist’s strong market presence.”
Pratik Roychoudhury, incoming CEO, stated “I’m very thankful to Stewart and Nancy for entrusting us with this opportunity to lead IT Assist into its next phase of growth. IT Assist is a clear market leader in the outsourced managed IT services industry, and I look forward to working with the company’s talented management team to continue expanding the business. It was a pleasure working with Salt Creek Capital on this transaction who brings tremendous experience and leadership capabilities to this market.”
“Pratik is an exceptional entrepreneur and operator with successful experience in the IT managed services industry, and we’re excited to support him and the Company’s next phase of profitable growth” added Daniel Price, Director of Salt Creek Capital. “We believe that demand for IT managed services will continue to rise as a greater number of companies adopt mobility and cloud computing strategies and seek out ways to more efficiently managed their IT operations.”
About IT Assist, Inc.
Headquartered in Newton, Pennsylvania, IT Assist is a leading provider of managed IT services. IT Assist has grown to become the top franchise operator for TeamLogic IT, the largest franchisor of outsourced managed IT services with over 200 locations in the U.S. IT Assist manages eleven territories in the greater Philadelphia metro area. IT Assist provides outsourced managed IT services with a specialization in cloud computing, data backup, disaster recovery, business continuity, and IT solutions for mixed PC/MAC environments.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with up to $100 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please contact Tyler Romrell at tyler@saltcreekcap.com or visit www.saltcreekcap.com.
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