Managed Services Acquisition: Circle Computer Buys CramerIT
Circle Computer Resources (CCR), an MSPMentor 100 company, has acquired Cramer IT, a Coralville, Ia.-based IT consulting firm. Cogent Growth Partners advised CCR on the acquisition. I spoke with Cogent Managing Partner David Schafran for more insights on the deal.
“The deal makes sense for Circle because both companies have similar clients and similar philosophies, particularly when it comes to the importance of clients and stakeholders,” Schafran said. “Also, Circle is based in Cedar Rapids and Cramer is in Coralville, so it’s a good opportunity for Circle to expand its geographic reach.”
CCR is a 25-year-old IT service provider that already has a national reach. CCR helps SMB and enterprise businesses manage risks and build greater business value, and specializes in restaurant industry IT, Internet access and software development services and nationwide broadcast monitoring services.
CCR President Chris Kelly commented on the Cramer IT acquisition in a prepared statement: “CCR and Cramer IT certainly complement each other very well. The ISP and IT services we now offer as a result of the business combination are intended to optimize operations, better manage risk and deliver improved business value to large and small companies around the globe.”
CRR will gain nine staff members from Cramer IT, bringing its total staff to 50. Financial terms of the deal were not disclosed.
Meanwhile, Cogent Growth Partners seems to be advising more and more MSPs on buy-side acquisitions. The company has earned a reputation for assisting on deals where there are clear synergies — and sticking around post-acquisition to assist with the integration.
Additional insights from Joe Panettieri.