Washington, DC (December 18, 2024) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that SUCCESS Computer Consulting (“SUCCESS”), a leader in managed IT and security services for small and medium-sized businesses, has been acquired by L Squared Capital Partners. Through the acquisition of SUCCESS, Netrio, and PCA Technology Group (“PCA”), L Squared has been able to complete the creation of its Managed IT Services Platform, Netrio. FOCUS represented SUCCESS in this transaction.
L Squared developed a white-paper industry thesis in the summer of 2022 focused on the opportunity to consolidate the highly fragmented Managed IT Services industry. Its initial acquisition, SUCCESS, closed in January of 2024. Through strong collaboration with the SUCCESS management team, L Squared was able to execute two additional acquisitions, Netrio in August 2024, and PCA in November 2024. Through these acquisitions, the combined platform now known as Netrio has been able to develop a unique platform with a wide array of capabilities including core managed services, managed cybersecurity services, application development, managed connectivity and telephony solutions. Additionally, the three acquired entities give Netrio nationwide reach with offices in the Dallas, Minneapolis, and Buffalo markets.
Early in its holding period, L Squared is investing heavily in its team, delivery platform, and go-to-market strategy, driving a superior customer experience. These strategic investments are expected to drive increased operational efficiency as Netrio scales through both organic growth and accretive M&A, with a focus on adding additional capabilities and products.
“It was an honor to represent SUCCESS in this transaction,” stated Abraham Garver, FOCUS Managing Director. “Mark Clayman and his team built an impressive platform and I look forward to seeing their continued growth and success in the months and years to come!”
“I’m thrilled to collaborate with L Squared and Netrio. Together, we’ll leverage our expertise to continue to provide our customers with world-class services, expand our product offerings, and provide even greater value to our loyal customer base,” commented Mark Clayman, CEO of SUCCESS. “Small and mid-market companies face unique challenges, especially in today’s business landscape, that require innovative solutions designed specifically for their needs. We see the combination of Netrio, SUCCESS and PCA providing a new kind of holistic IT partner that gives small to mid-market organizations the necessary resources and solutions to grow and compete effectively.”
“We were thrilled to represent an industry leader like SUCCESS,” added Michael Birmingham, FOCUS Managing Director. “The entire SUCCESS team’s commitment to excellence to their customers and employees was evident throughout the process and their decision to join together with L Squared and Netrio is an incredible opportunity for everyone involved.” *These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.
*These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.