Combination Accelerates Firms' Expansion and Adds New Services, Capabilities to Serve Small and Mid-Sized Businesses Across Gulf South
Merged Company to Adopt My IT Brand and Seek Growth Through Additional Acquisitions
SHREVEPORT, La. and NEW ORLEANS, Jan. 28, 2020 /PRNewswire/ -- Shreveport-based Enterprise Computing Services ("ECS") and New Orleans-based My IT ("My IT"), today announced they have joined forces to create a premier IT managed service provider serving Louisiana and the surrounding Gulf South region. In addition, ECS has entered into a strategic investment partnership with ParkSouth Ventures and Kian Capital Partners to support its growth strategy.
Led by Kevin Cook, CEO of ECS, the combined company will rank among the leading managed service providers nationally, establishing a strong platform for future growth within a highly fragmented industry.
"ECS and My IT have each forged successful, growing businesses by establishing enduring client relationships, solution-oriented service and support, and professional and responsive teams," said Cook. "Together, the combined company will expand our offerings and service platform to the growing base of small and mid-size businesses in the Gulf South region and beyond."
The combined company will adopt the My IT brand across all its operations, reflecting a shared commitment to work alongside clients, as trusted members of their team, working hard on their behalf to help their businesses grow and succeed by ensuring secure, reliable and cost effective information technology systems to run their business.
The partnership with Kian Capital and ParkSouth will provide the support needed for the company to execute on its growth strategy, including the pursuit of additional acquisitions to broaden its service territory, offerings and capabilities to better serve its expanding client base.
Matt Levenson, Partner at Kian Capital, said "This merger brings together two industry leading managed service providers. We, along with our partners at ParkSouth, are excited to support the collective ECS and My IT teams to further accelerate growth and provide our small and mid-size business clients with exceptional technology services and solutions that meet their complex needs."
Greg Celmainis, Managing Director at Top Down Ventures and exiting investor at My IT, said "The successful combination of ECS and My IT will allow our partner and current CEO of My IT, Patrick Leonard, to focus his full attention on Backup Radar, an IT MSP SaaS provider and portfolio company of Top Down Ventures. We are very pleased to see My IT join forces with ECS to form the preeminent provider of IT managed services in the Gulf South."
Patrick Leonard commented, "I couldn't be more excited for what lies ahead for the combined ECS and My IT, their employees, and clients in this next chapter."
Moore & Van Allen, PLLC acted as legal advisor to ParkSouth. Robinson, Bradshaw & Hinson, P.A. acted as legal advisor to Kian Capital. FOCUS Investment Banking, LLC acted as exclusive financial advisor to ParkSouth and Kian in connection with their investment in My IT.
About Enterprise Computing Services
Founded in 1994, ECS is a managed service provider for IT services to small and mid-sized businesses. ECS offers a broad set of services including managed IT, hosted cloud services, disaster recovery, virtual CIO and security services. The Company is headquartered in Shreveport, Louisiana and consists of more than 45 highly trained team members serving North Louisiana and East Texas. For more information, visit www.ecs-net.com.
About My IT
Founded in 2000, My IT is a managed service provider for IT services to small and mid-sized businesses. My IT offers a broad set of services including managed IT, hosted cloud services, disaster recovery, virtual CIO, VoIP and security services. The Company is headquartered in New Orleans, Louisiana and consists of more than 25 highly trained team members serving South and Central Louisiana. For more information, visit www.myitsupport.com.
About Kian Capital
Kian seeks to forge partnerships to ignite growth and build enduring value. The firm's goal is to provide flexible financial resources and additional operational horsepower to scale middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Kian is a private investment firm with $425 million of capital under management and 17 current investments. Its team of seasoned investors has over 80 years of collective experience providing transformational capital solutions and board-level strategic and operational guidance to founder/owner operated businesses. To learn more, visit www.kiancapital.com.
About ParkSouth Ventures
ParkSouth Ventures is a Charlotte, North Carolina-based private investment firm seeking to invest in and partner with founder or family-owned businesses in the U.S. Given PSV's long-term approach to investing it can thoughtfully structure a transaction to meet both the near-term and long-term financial and strategic objectives of a business owner and their family. ParkSouth aims to further a company's legacy as an independent business and is dedicated to doing what is best for all stakeholders – employees, customers, shareholders and communities. To learn more, visit www.parksouthventures.com.
About Top Down Ventures
Top Down Ventures provides capital and scaling expertise for emerging software companies on the verge of greatness. Founded by Chris Day, former CEO and Founder of IT Glue, portfolio investments include Warranty Master, Backup Radar and Quoter. To learn more, visit www.topdown.ca.