January 11, 2022
Bridgepointe’s Scott Evars
The technology solutions brokerage and IT consultancy on Tuesday announced a strategic growth investment from Charlesbank Capital Partners. Bridgepointe will use the funding for hiring, partner recruitment and enablement, and the expansion of its services and brand. In addition, Bridgepointe will use the capital for additional acquisitions.
“As businesses are contending with the future of work, IT teams have never needed a trusted partner more for strategic guidance and tactical assistance,” Bridgepointe co-founder Scott Evars said. “Growing demand for our services in key areas like UCaaS, CCaaS, data centers, cloud, SD-WAN and security, means now is the time for us to maximize our growth potential. With this investment, we’ll be able to fast-track customer adoption and partner recruitment, as well as enhance our offerings.”
Evars and Brian Miller founded Bridgepointe in 2002. Its “IT strategists” provide vendor-agnostic consulting through a six-step model. The company recently reached silver status in the AT&T Alliance Channel program last year, and it won Zoom’s Collaboration Award in 2020.
Bridgepointe Technologies’ Brian Miller
“We are proud of our accomplishments since the day we started Bridgepointe, and our mission will not change,” Miller said. “We’re the market leader in helping clients find the signal in the noise and make the right technology choices at the right price. Charlesbank’s strategic investment will enable us to aggressively seek out partners who do the same and to double down on supporting our customers, IT strategists and suppliers.”
Bridgepointe two years ago announced the purchase of New Jersey-based Clover Communications. The buyer expanded its customer base, supplier relationships and subagents as a result. It also gained a Northeast office.
Charlesbank bills itself as a middle-market private investment firm with experience in tech investment. It has raised more than $15 billion since its inception in 1998. It operates out of Boston. Bridgepointe’s headquarters are in San Mateo, California.
Charlesbank’s Pedro Vaz
“Buyers of technology today can be easily overwhelmed by a vast range of choices, solutions and integrations, and Bridgepointe’s IT strategists serve a crucial role in helping businesses save time, money and stress,” said Pedro Vaz, managing director at Charlesbank. “We see great potential for Bridgepointe in this highly fragmented market as traditional solutions move to the cloud and the company continues to expand its core areas of focus. We look forward to helping Bridgepointe build on its reputation and brand to capitalize on these exciting market opportunities.”
Channel Futures wrote about Charlesbank last summer when the firm sold hybrid IT services provider Ensono to KKR. Charlesbank and M/C Partners first acquired Ensono in 2015. That makes for a six-and-a-half year turnaround from buying to selling. Charlesbank also recently sold HDT Global after a little less than seven years.
Charlesbank flipped other firms in shorter time. For example, it bought Vestcom in late 2016 and sold it in early 2021.
Investment banking firm Q Advisors served as the exclusive financial adviser, and Guggenheim Partners provided Charlesbank’s buyside advice.
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