Magna5, a national provider of managed IT, cybersecurity, and cloud-based services and a NewSpring Holdings platform company, has acquired Advanced Network Systems, a Virginia-based cybersecurity and managed IT services company. This acquisition provides Magna5 additional scale in the Mid-Atlantic region, further strengthening the firm’s position as a leading provider of managed IT services, including network management, cybersecurity, data recovery, and cloud services.
“We’re thrilled to welcome the Advanced Network Systems team and customers to the growing Magna5 family,” says Bob Farina, CEO of Magna5. “The ANS team’s strong technical skills and ability to deliver full-service cybersecurity and managed IT services complement Magna5’s integrated service offerings. We will look to build on ANS’s existing offerings with our Pentaguard suite of state-of-the-art managed IT services, enabling customers to realize immediate benefits. Also, this partnership allows us to add new locations as we continue expanding into the key Mid-Atlantic markets of Virginia and West Virginia as we grow our footprint across the east coast and mid-west.”
“We were immediately impressed with Magna5’s customer-centric holistic approach to delivering managed IT services to lower middle-market customers,” says Kevin Leibl, CEO and Founder of Advanced Network Systems. “I’m pleased that our employees will be joining a skilled Magna5 team and that our customers will greatly benefit from the added resources and robust capabilities from Magna5’s Pentaguard suite of managed IT services.”
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This acquisition comes on the heels of Magna5 ranking number 2,437 on the 2023 Inc. 5000, the annual list of the fastest-growing private companies in America. The demand for real-time cybersecurity protection, data backup/recovery, centralized network monitoring, cloud hosting, and 24/7 help desk support combined with Magna5’s superior service offering has the company on pace to continue its strong growth.Magna5, a NewSpring Holdings platform, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the financial services, healthcare, education, government, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, and regional offices from Massachusetts to North Carolina, Magna5 has customers nationally.
NewSpring Holdings, NewSpring’s dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries.
SOURCE: PRNewswire