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Magna5 Makes Key Strategic Move By Divesting Its Telecom Business And Focusing Exclusively On Managed IT Services

Sale of Telecom enterprise permits the corporate to sharpen its focus on its core strengths of offering mission-critical managed IT providers to mid-enterprise prospects.

PITTSBURGH, Nov. 18, 2021 /PRNewswire/ — Magna5, a nationwide supplier of managed IT providers and a NewSpring Holdings platform firm, proclaims the sale of its Telecom enterprise enabling it to focus solely on constructing and rising its Managed IT Services enterprise because the centerpiece of its technique. Growing buyer demand for Magna5’s differentiated, high-touch managed IT providers coupled with the corporate’s important investments in know-how, working capabilities, and gross sales and advertising and marketing over the previous yr have resulted within the firm attaining natural gross sales progress of greater than 20% in 2021.

Magna5 Logo (PRNewsfoto/Magna5)

Magna5 Brand (PRNewsfoto/Magna5)

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“I am proud to steer our Magna5 workforce as we focus our efforts on executing our technique to construct a market-leading Managed IT Services enterprise,” says Bob Farina, CEO of Magna5. “The sale of our Telecom enterprise permits our group to focus the place we see the best alternative for progress going ahead. We’re investing considerably in our group to reinforce our choices for cybersecurity, knowledge restoration, cloud providers, and many different areas so we will higher service the wants of our quickly rising buyer base. Lastly, I wish to thank the dedication of the Telecom enterprise’s staff and prospects that we had the chance to work with and serve throughout our possession.”

Backed by NewSpring Holdings, Magna5’s Managed IT Services enterprise is poised for sturdy natural and acquisitive progress. Magna5 acquired New York-based SpinnerTech in Could and is pursuing further acquisition alternatives to reinforce capabilities and develop its attain. “The demand for managed IT providers within the decrease middle-market is paving the best way for Magna5’s booming natural progress,” says Jim Ashton, Normal Accomplice at NewSpring Holdings. “On the similar time, the market is extraordinarily fragmented, which offers an thrilling alternative for us to leverage our current platform and execute our M&A method to construct Magna5 into an much more formidable managed IT providers participant.”

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About Magna5

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Magna5, a NewSpring Holdings platform, offers managed IT providers, cybersecurity, personal and public cloud internet hosting, backup and catastrophe restoration and different superior IT providers to mid-market and enterprise prospects, together with leaders throughout the schooling, healthcare, authorities, monetary providers, manufacturing, and different business segments. Headquartered in Pittsburgh, PA, Magna5 has prospects nationally. For extra info, go to www.magna5global.com.

About NewSpring Holdings

NewSpring Holdings, NewSpring’s devoted holding firm with a technique targeted on management buyouts and platform builds, brings a wealth of data, expertise, and assets to take worthwhile, rising firms to the subsequent degree via acquisitions and confirmed natural methodologies. Based in 1999, NewSpring companions with the innovators, makers, and operators of high-performing firms in dynamic industries to catalyze new progress and seize compelling alternatives. The Agency manages over $2 billion throughout 5 distinct methods protecting the spectrum from progress fairness and management buyouts to mezzanine debt. Partnering with administration groups to assist develop their companies into market leaders, NewSpring identifies alternatives and builds relationships utilizing its community of business leaders and influencers throughout a wide selection of operational areas and industries. Go to NewSpring at www.newspringcapital.com.

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SOURCE Magna5

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