PC Network Services Acquires CMIT Solutions-Boston in Merger of Top IT Services Firms
April 17, 2014, Pittsburgh, PA Pittsburgh-based IT Services provider PC Network Services (PCNS) announced yesterday that it has acquired Boston-based IT Services provider CMIT Solutions – Boston (CMIT Boston). The merger brings together two companies that are among the most highly regarded Managed Service Providers (MSPs) in their respective markets. Brook Venture Partners led the transaction with co-investors Blue Heron Capital, an operationally focused private equity firm based in Richmond, Va.; and Pride’s Crossing Capital of Wakefield, Mass.
“This merger brings together two world-class service providers that are kindred spirits in customer focus, operational discipline and – most importantly – in the outstanding results they deliver to clients,” said Michael Halperin, CEO of PCNS. “The synergies between our two companies are tremendous. Our cultures, our core values, our methodologies and our standards are very much aligned.”
“We are thrilled to be joining forces with a firm of PCNS’ capability and stature,” said David Minker, CMIT Boston’s founder and President. “This is clearly a situation where the whole will be greater than the sum of its parts.”
PCNS, located in Sewickley, Pa. (a suburb of Pittsburgh), currently serves over 100 clients in the legal, manufacturing, non-profit, financial services, professional services and other industries. Founded in 2004, CMIT Boston serves over 40 clients in various industries, including orthopedic practices, manufacturing, and professional services.
Each of the companies has a heritage of innovation and industry leadership. Both began offering fixed-rate IT Managed Services over 10 years ago, well ahead of the industry’s overall adoption curve. Both are known for high quality service delivery, accounting for both companies maintaining historical client retention rates near 100%.
“The key to success with both companies is cultural,” says Minker. “We both have a fanatical discipline regarding our processes and documentation. Both companies have high accountability cultures, where individual staff members are willing to call out their peers – and even management – if they see that things aren’t being done the right way.”
Halperin and Minker agree the merger will have minimal short-term impact on clients of either PCNS or CMIT Boston. “Both companies have a heritage of being very methodical, prudent and thoughtful in everything we do”, Halperin said. “Any noticeable client impact will be carefully designed to enhance client experience and results.”
“We are excited about the merging of these two firms, with complementary strengths and fantastic service records with their customers,” said Fred Morris, a partner at Brook Venture and PCNS Chairman. “We believe there is excellent growth potential for the combined company.”
Halperin will continue as CEO of the new entity, while Minker will assume the role of President as he leads operations in the Boston office. Each operation will continue to do business under its previous brand while the combined entity prepares for a re-branding expected sometime this summer. The company’s corporate headquarters will remain in Sewickley, Pa.
About PCNS, LLC : PC Network Services is Pittsburgh’s premier IT Managed Services Provider. Founded in 1990, the company is based in Sewickley, Pa., and provides a full suite of IT Managed Services to small- and medium-sized businesses in Western Pa., Eastern Ohio, and beyond.
About CMIT – Solutions Boston: Headquartered in Allston, Mass., just 10 minutes from downtown Boston, CM IT Solutions is committed to providing the highest quality IT management and consulting services to companies from 5 to 400 employees. Founded in 2004, CMIT Boston serves over 40 clients in various industries, including orthopedic practices, manufacturing, and professional services.