All Covered Acquires LAN Associates, PMV Technologies
All Covered has acquired LAN Associates and PMV Technologies, two managed services providers located in New York and Michigan, respectively Also, All Covered acquired Techcare in May 2011. The company has now made 19 acquisitions in three years.
All Covered has been on both sides of the acquisition table within the last year. The managed IT service provider was acquired by Konica Minolta Business Solutions U.S.A. in early 2011. At the time, MSPmentor wondered if All Covered was done buying companies. But All Covered said it would remain on the acquisition trail.
“When we were acquired, we were excited because they [Konica Minolta] are in 50 cities across they U.S. and we’re only in 20. But we were also excited about they’re continued commitment to acquisitions,” All Covered President Todd Croteau said. Croteau clarified that the company’s acquisition strategy is part of a larger strategy to provide a more comprehensive suite of services for SMBs.
LAN Associates provides networked computer solutions for legal and corporate customers in New York, Washington D.C. and North Carolina. The company is rich in legal expertise, particularly around document management and application layer support for legal firms. The company was named the best outsourced IT provider by the New York Law Journal, and its roughly 35 employees will bring a higher level of legal skills and knowledge to All Covered, according to Croteau.
“PMV Technologies is more of a classic MSP,” Croteau said. The 30-employee company is heavily invested in remote support and provides SMBs with network management, security, infrastructure and hardware maintenance, help desk support and business planning.
All Covered will retain all employees from both companies and is eying further acquisitions in the coming weeks, according to Croteau and All Covered Vice President of Marketing Nick Pegley, who said this is the beginning of a larger IT industry trend.
“The IT industry is going into a trend of very significant consolidation,” Pegley said. “Now with the advantages of having 24-hour facilities and around the clock monitoring, you need more engineers and support in more cities. That’s why we’re moving quickly to build, by far, the largest company in our business.”