SALT LAKE CITY, July 19, 2022 /PRNewswire/ -- Tower Arch Capital is pleased to announce its new partnership with Intelligent Technical Solutions ("ITS"), a leading IT managed services provider ("MSP"). The investment completes a recapitalization with the company's founding management team, including CEO Tom Andrulis, Chief Revenue Officer Dan Izydorek, and Chief Experience Officer Rob Schenk.
Founded in 2003, ITS provides managed IT, cloud, cybersecurity, VoIP phone, and fiber internet services to small and medium sized businesses in several cities throughout the United States. The current ITS entity formed as a merger of three historical entities to strengthen its service offerings, increase geographical diversification, and capitalize on synergies.
Tom Andrulis, CEO of ITS, said, "ITS has grown to become the dedicated strategic technology partner for hundreds of SMBs throughout the Western and Midwestern United States. We're proud of our team for building an organization committed to exceptional service, high quality offerings, and deep technical expertise. We look forward to our partnership with Tower Arch Capital as we further expand our footprint and enhance our service offerings to better support our current and future customers. Our team is committed to continuing our role as a strategic technology partner and a provider of best-in-class IT support."
Aubrey Burnett, a Partner at Tower Arch Capital, added, "We are delighted to partner with Tom Andrulis, Dan Izydorek, Rob Schenk, and the entire ITS team. The team brings decades of experience in managed IT services, helping their customers solve complex problems and evolve their IT infrastructures. These capabilities, combined with additional investment for growth and acquisitions, will continue to drive ITS's expansion in the MSP space. We are excited for the next chapter of growth and look forward to supporting ITS."
Terms of the transaction were not disclosed. Financing for the transaction was provided by Deerpath Capital. Advisors for Tower Arch Capital included Gibson, Dunn & Crutcher LLP and BDO USA, LLP. Advisors for ITS included Holland & Hart LLP and FOCUS Investment Banking's MSP Team.
Intelligent Technical Solutions is a provider of IT managed services. Founded in 2003 and headquartered in Las Vegas, NV, ITS provides managed IT, cloud, cybersecurity, VoIP phone, and fiber internet services to small and medium sized businesses (20-500 seats) in several cities throughout the United States. For more information, please visit www.itsasap.com.
Headquartered in Salt Lake City, UT, Tower Arch Capital is a lower-middle market private equity fund. Tower Arch focuses on partnering with and growing high-quality family and entrepreneur-owned companies to deliver long-term value for their management teams and investors. Tower Arch brings operational, consulting, and financial expertise to small companies to give them the tools they need to achieve their full potential. Target investments include control positions in entrepreneur and family-owned businesses with revenue between $20 million and $150 million or EBITDA between $5 million and $25 million. For more information, please visit www.towerarch.com.
SOURCE Tower Arch Capital
