NEW YORK, NY--(Marketwire - February 19, 2013) - Power Consulting Group, Inc., a Managed Services Provider founded in 1991, with a strong presence in NYC, has agreed to purchase Iconic Consulting, a local competitor. Power Consulting Group's primary services relate to fixed fee monthly managed services for the SMB/Mid-sized commercial and NFP markets in and around NYC. Iconic Consulting's revenue in 2012 was over $350K. Senior management expects the acquisition to fit perfectly into PCG's current portfolio of SMBs and mid-sized clients.
Iconic Consulting was founded by Jeff Pagano in 2007. As part of the acquisition, Jeff will join PCG full-time. The acquisition will increase Power Consulting's client reach in NYC and increase top line revenue by 15%.
Power Consulting Group has seen significant growth in their services revenue in recent years, including revenue growth of over 40% in 2012. Power Consulting is positioned for strong growth in its core Managed Services practice as well as in its rapidly expanding cloud services division. Power Consulting has partnered with regional data centers to offer clients co-location, hosting, redundancy, and disaster recovery services.
"The acquisition of ideally-suited competitors is a part of our strategic plan for 2013," said Ronnie Parisella, Power Consulting Group's Director of Business Development. "Smaller competitors may not have the time or ability to deploy a robust client support environment for their clients, so through acquisition, they can expand their reach and focus on prospecting."
Power Consulting Group expects the acquisition and on-boarding of Iconic Consulting clients to be completed by the end of Q1, and is already identifying potential partners for future acquisitions.
About Power Consulting Group
Power Consulting is a leading NYC Managed Services Provider whose mission is to deliver smart IT management, support and strategy to rapidly changing businesses. The company watchword is "Technology is for People." No system can succeed without successful user buy-in, integration and training -- no matter how great the technology. The growing company provides professional technology solutions, support and management services for small and mid-sized businesses in and around the NYC Tri-State Area.
- Mergers, Acquisitions & Takeovers
- Investment & Company Information
Director of Business Development
Power Consulting Group, Inc.