Partnership Will Accelerate Acquisition Strategy & Fuel Growth in Southwest Florida and Beyond
FORT MYERS, Fla. (November 17, 2022) – Entech, a leading Managed Technology & Cybersecurity Service Provider, today announces that it has completed a recapitalization partnership with Prospect Partners, a leading private equity firm investing in pre-middle market companies. This partnership will accelerate Entech’s growth and expansion efforts enabling the company to pursue a focused acquisition strategy faster than expected.
Entech, which will celebrate its 25th year in business come January, set out to build the most recognizable Managed IT Service-focused organization in Florida. To achieve this, its Leadership Team knew they needed to attract and acquire like-minded IT companies who were growth-oriented, customer-centric, civic-minded, and committed to doing what matters—a motto that Entech employees live by every day.
“We always knew that identifying the right capital partner with a willingness to allow Entech the autonomy to continue running the business in the same manner we are known for, would be imperative,” said Entech’s Chief Executive Officer, Jake Spanberger. “We found that in Prospect Partners who has a long history of supporting growing, entrepreneurial services businesses like ours. Their experience in scaling mid-market service organizations, coupled with strong financial relationships and a true commitment to partnership, provides nearly unlimited ability for us to meet or exceed our goals, and do it in less time than initially anticipated.”
Since 2015, Entech has grown from 18 employees to more than 80 and increased revenue by 552%. Further, the company's Leadership Team has completed six M&A transactions yielding successful integrations and growth. In 2020, the company was (and continues to be) recognized by Google as the #1 reviewed Managed Service (Computer & Support) organization in Florida. Entech is regularly listed among the industry’s top service providers and best places to work, with countless accolades from Inc., CRN, MSP Mentor, Channel Futures, and more.
“Entech is a highly respected organization with an unmatched reputation and market-leading position in the Southwest Florida market. The company has built an industry-leading and scalable model based on superior customer service and providing advanced technology and security solutions to its customers,” said Brad O’Dell, a Partner at Prospect Partners. “We believe Entech is uniquely positioned for growth and look forward to supporting management as they continue to scale the company and expand its regional presence,” added Mike McInerney, a Director at Prospect Partners.
Entech’s day-to-day management structure will remain unchanged as the company will continue to be led by Jake Spanberger, Buddy Martin, David Spire, and Jeremy Stakely.
FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services served as catalyst for the deal with Prospect Partners, and exclusive financial advisor to Entech; led by Abe Garver and Bob Beard.
Financial terms of the deal were not disclosed. For more information, please visit www.focusbankers.com/msp.
About Prospect Partners
Founded in 1998, Prospect Partners is an active investor and builder of pre-middle market companies. Prospect focuses on partnering with management teams to complete recapitalizations, build-ups, carve-outs, and generational transitions. The Prospect team brings deep domain expertise building high potential companies through both operational improvements and acquisitions. For more information, please visit www.prospect-partners.com.
About FOCUS Investment Banking (“FOCUS”)
With more than three decades of experience, FOCUS Investment Banking is a trusted name in middle market M&A advisory services worldwide. Whether helping to sell, buy, or raise capital, FOCUS strives to maximize the value of every transaction for the benefit of its clients. FOCUS’ Managed Service Provider (MSP) Team is one of the most active and successful in North America. FOCUS’s MSP Team executes on a customized strategy tailored to meet each client’s objectives. We bring deep industry expertise and years of transaction experience to every engagement. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC.
Entech is a leading Managed Technology & Cybersecurity Service Provider serving Fort Myers, Naples, Sarasota, Bradenton, and Tampa Bay. Priding itself on exceptional customer service, Entech unites people, process, and technology to keep companies on the move and data as secure as it is flexible. At its core, Entech is a family business that’s been doing what matters for more than two decades. We are passionate about partnerships, fanatical about fast IT support, and unwaveringly committed to results. Learn more at www.entechUS.com or reach out to our team at (239) 230-0282.