November 8, 2022
MSP Cantey Tech Consulting, which caters to SMBs in the southeast, has acquired Palindrome Consulting, a Hollywood, Florida-based provider of IT managed services. Cantey Tech was ranked No. 100 on Channel Futures 2022 MSP 501 list.
The combination of the two companies provides Palindrome’s clients with additional service capabilities and more resources, while they will retain the local service that they have come to expect. The transaction also allows Cantey Tech to expand into Florida, consistent with its strategy of growing throughout the southeast.
Palindrome’s team, including founder and president Ilan Sredni, have also joined Cantey Tech. Sredni will stay on board and continue to manage the Florida organization, focusing on new business development.
Cantey Tech’s Willis Cantey
“We are delighted to partner with the Palindrome team, which has provided its clients with high levels of service for more than 20 years,” said Willis Cantey, Cantey Tech’s President. “Cantey Tech is excited about our initial entry into Florida through this partnership and we look forward to further expansion in the state with devoted resources to achieve this growth.”
The Right Fit
Florida is one of the fastest growing regions in the country. However, both Cantey Tech and Palindrome wanted to make sure the deal was more than about geography. The acquisition was about the right cultural fit. Cantey said it is important that the teams work well together as they integrate over time.
Palindrome Consulting’s Ilan Sredni
“In an increasingly complex IT environment, partnering with Cantey Tech allows us to offer our clients additional services and solutions, while continuing to provide them with top notch support and advice. The Cantey Tech team was great to work with during the transaction, and they delivered on the promised timeline and terms,” Sredni said.
In 2021 Cantey Tech took on LNC Partners as a private equity sponsor. LNC is focused on investing in tech-enabled business services companies.
“They have significant experience supporting acquisitive businesses, and they provide flexible capital that makes us a more efficient acquirer,” Cantey said.
Cantey Tech provides a broad offering of IT managed services. These include IT consulting services, help desk support, data security, cloud management, backup and disaster recovery, hosting, application support and vendor management. The company is based in Charleston, South Carolina with team members across the United States. It leverages its local focus and presence to provide a high level of responsive support to SMBs across a wide range of industries. Cantey Tech’s team, including its virtual CIOs, takes the time to understand each client’s business goals and objectives. It then develops a customized technology plan and budget to maximize their success.
Palindrome is the first acquisition in recent years for Cantey Tech, which expects to make many more as part of its plans to expand throughout the southeast. Cantey Tech has completed one previous acquisition.
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