Managed Services Merger Targets Charlotte, N.C.
Waypoint Solutions Group continues to expand its geographic reach through merger and acquisition deals. The latest agreement involves Waypoint merging with Charlotte Techsupport LLC, which has The combined companies will operate as Waypoint, with former Charlotte Techsupport President Tony Shannon joining Waypoint as VP, focused on business development and client relationships. Here’s a closer look at Waypoint’s strategy.
No doubt, Waypoint President and CEO Dan Wilson has been an industry consolidator, acquiring small regional MSPs and IT service providers in recent months. Although Waypoint has not disclosed financial details for each deal, Wilson has previously stated that the M&A engagements involved profitable, cash-flow positive companies rather than MSPs or solutions providers in distress.
In recent months, Waypoint has been branding around its own POINT managed services:
- Managed Services (managePOINT);
- Infrastructure Security (securePOINT); and
- Business Continuity Management (storePOINT).
With the addition of Charlotte Techsupport, Waypoint now offers residential computer repair and Audio/Visual implementation, according to a prepared statement from Waypoint. In a press release, Wilson says Waypoint has moved into the Florida and South Carolina markets, and the company expects to boost sales about 35 percent this year.
No doubt, more mergers and acquisitions will soon emerge in the managed services market. MSPmentor is aware of at least one significant deal that’s expected to be announced within two business weeks or less.
Meanwhile, consultants continue to assist MSPs with potential M&A engagements. Specialists in the area include Cogent Growth Partners (launched by several MSP veterans), MSPXchange (launched by The Utility Company) and Weaver & Associates Ltd. (launched by MSPAlliance President Charles Weaver).