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November 17, 2022
Entech has completed a recapitalization partnership with Prospect Partners. The goal of this funding is to accelerate Entech’s growth and expansion efforts, priming them for a focused acquisition strategy.
In its 25th year in business, Entech, a 2022 MSP 501 winner, aims to build the most recognizable managed IT service-focused organization in Florida. How does a company do this? Entech realized early on that it needed to attract and acquire like-minded IT companies focused on growth and customers. The company has kept to that.
Entech’s Jake Spanberger
“We always knew that identifying the right capital partner with a willingness to allow Entech the autonomy to continue running the business in the same manner we are known for, would be imperative,” said Entech CEO Jake Spanberger. “We found that in Prospect Partners who has a long history of supporting growing, entrepreneurial services businesses like ours. Their experience in scaling midmarket service organizations, coupled with strong financial relationships and a true commitment to partnership, provides nearly unlimited ability for us to meet or exceed our goals, and do it in less time initially anticipated.”
Since 2015, Entech has grown exponentially, both in number of employees and realized revenue (increased by 552%). The company has also completed six M&A transactions, resulting in successful integrations and growth. This most recent acquisition strategy will aid in such endeavors in the future.
“Entech is a highly respected organization with an unmatched reputation and market-leading position in the Southwest Florida market. The company has built an industry-leading and scalable model based on superior customer service. [They also provide] advanced technology and security solutions to its customers,” said Brad O’Dell, a Partner at Prospect Partners.
“We believe Entech is uniquely positioned for growth,” added Mike McInerney, a director at Prospect Partners. “[We] look forward to supporting management as they continue to scale the company and expand its regional presence.”
Entech’s day-to-day management structure will stay the same. The company will continue to be led by Jake Spanberger, Buddy Martin, David Spire, and Jeremy Stakely.
FOCUS Investment Banking (“FOCUS”) served as catalyst for the deal with Prospect Partners and exclusive financial advisor to Entech.
Allison Francis is a writer, public relations and marketing communications professional with experience working with clients in industries such as business technology, telecommunications, health care, education, the trade show and meetings industry, travel/tourism, hospitality, consumer packaged goods and food/beverage. She specializes in working with B2B technology companies involved in hyperconverged infrastructure, managed IT services, business process outsourcing, cloud management and customer experience technologies. Allison holds a bachelor’s degree in public relations and marketing from Drake University. An Iowa native, she resides in Denver, Colorado.
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