Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, The Tech Group, Inc. to Oval Partners. The acquisition closed July 20, 2020 and details were not disclosed.
The Tech Group (TTG), located in South Burlington, Vermont, operates as a managed service provider specializing in network security. The Company’s managed services include monitoring a client’s network, providing network inventory documentation, as well as providing remote and/or on-site technical support. TTG also provides full network assessment, project and support services.
Located in Chicago, Illinois, Oval Partners (Oval) is a multifamily office investment firm designed to provide liquidity, growth capital, and acquisition funding to founders of growing businesses in order to enhance the strategic and financial value of their business. Oval offers the capabilities and capital of a private equity firm, but the mentality, partner orientation, and time frame of a private holding company. Through the platform New Charter Technologies, led by CEO Mitch Morgan, Oval is establishing a dynamic assembly of leading IT/MSP companies coast to coast.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Vice President Mergers & Acquisitions, Corey Painter successfully closed the deal. Senior Managing Director Roger Dean established the initial relationship with TTG.
“Co-founders Steve Loyer and Jay Fayette led the creation of an exceptional IT MSP Services company by always putting customers first”, said Fergusson. “As a member of the New Charter Technologies group, all of The Tech Group stakeholders - team members, clients, and suppliers will be contributing to and benefitting from an exceptional business combination.”
If you’d like to explore other transactions our associates have supported in this industry, visit our dedicated Business Services M&A Deals page.
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