Thrive, a portfolio company of M/C Partners, said April 12 that it has completed a merger with BizCompass. Financial terms weren’t announced. BizCompass, of Westbrook, Maine, is a managed services provider (MSP) serving the greater Portland area.
FOXBOROUGH, Mass., April 12, 2018 /PRNewswire/ — Thrive, a leading provider of next generation managed services, proudly announces today that they’ve completed a merger transaction with BizCompass, a highly respected and fast growing managed services provider (MSP) serving the greater Portland, Maine area. Led by CEO Tony Correale and CTO John Burghardt, BizCompass has grown to become a well-respected and recognized MSP in Maine and the surrounding northern New England region. The BizCompass focus upon superior customer service, private cloud hosting and technical expertise is a natural fit for Thrive as they continue to expand their geographic and service delivery coverage.
“Thrive is pleased to welcome BizCompass, their customers and employees to our growing portfolio of MSP partnerships in the Northeast United States. This transaction is another win-win for both companies and most importantly, our customers, as BizCompass will become the technical operations center for Thrive’s Northern New England region,” said Rob Stephenson, Thrive CEO.
“On behalf of everyone at BizCompass, John and I are very excited about this opportunity to join one of the largest and most respected technology service firms,” said Tony Correale, CEO at BizCompass. “The engineering depth, vast amount of technical and financial resources and advanced Cloud and Cyber Security capabilities that Thrive will be able to offer our customers are the driving factors for Tony and I to join this winning team,” said John Burghardt, CTO at BizCompass.
Mr. Burghardt will join Thrive as a corporate executive with responsibilities for Northern New England technical operations and working on Thrive’s five national data center and Cloud footprints. Tony Correale will continue as the leading business development executive in Northern New England and he will be joined by Rob Nevins, a Mainetechnology veteran of more than 18 years. BizCompass now becomes the fourth member to join the Thrive platform within the past eighteen months and they will be the new operational center for Northern New England.
“Thrive continues to successfully executive on their acquisition strategy. The BizCompass deal solidifies their status as an industry leader by introducing the Thrive portfolio of Cloud, Networking and Cyber Security next generation managed services to Northern New England,” said Gillis Cashman, Thrive Chairman and Managing Partner at M/C Partners.
Thrive is a leading next generation managed services provider. The Thrive technology solutions suite utilizes Cloud, Cyber Security, Networking, Disaster Recovery and other pioneering managed services to help compliance-driven businesses solve complex IT issues. Thrive was acquired by M/C Partners in 2016 as a Northeast United States growth platform to service the Financial Services, Healthcare, Biotech, Life Sciences, Banking and other mid-market verticals. In developing this new technology service ecosystem, Thrive is uniquely positioned to offer compliance-based solutions to its valued client base.
To learn more, visit Thrives new and improved website www.ThriveNetworks.com and follow us on LinkedIn, Twitter, Google+ and Facebook.
BizCompass is one of the most advanced and fastest-growing IT support companies in Maine. Offering proactive and evasive monitoring and prevention services for all your technology devices, BizCompass is leading the way in becoming a truly customer focused source for IT services. Our programs provide complete protection of Windows-based servers, Windows-based PCs, network hardware, and supported peripherals. BizCompass solutions are engineered to evade costly repairs through a smart response technology that will take evasive action while contacting us for follow through resolution. This helps avoid downtime, and allows for fixed budget technology solutions. BizCompass maximizes productivity while our technology reduces system downtime. At BizCompass all of our managed offerings monitor your systems 24 hours a day, 7 days a week, and 365 days a year.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $2.2 billion of capital into nearly 100 companies in those sectors. Companies M/C has backed include Cavalier Telephone, Denovo, Ensono, Everstream, Fusepoint, ICG Communications, Involta, Legendary Pictures, Lightower, MetroPCS, NuVox, and Zayo Group. The firm has strong institutional backing from the nation’s leading pension funds and endowments as well as a long track record of success. M/C Partners has offices in Boston and San Francisco. For more information, visit www.mcpartners.com.