FOCUS Investment Banking Advises DS Tech in its sale to New Charter Technologies
Washington, DC, (February 17, 2023) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that DS Tech, a managed IT service provider based in Escanaba, Michigan, has been acquired by New Charter Technologies, a portfolio company of Palo Alto-based private equity firm Oval Partners. FOCUS served as exclusive financial advisor to DS Tech in the transaction.
DS Tech has been serving the Michigan and Wisconsin area since 1976, providing IT services such as support, cybersecurity, disaster recovery, voice solutions, and cloud hosting to small and medium-sized businesses. For Eric Wakkuri, president of DS Tech, the recently formed partnership with New Charter represents a significant step forward for the company.
“This strategic alliance will drive growth, further improve the customer experience, and enhance the capabilities of the organization,” Wakkuri said. “Our commitment to continuous improvement and service delivery is unwavering. The partnership with New Charter provides us access to a larger, more skill-diversified team and their innovative ideas, and enables us to achieve even greater success. Our shared values are a key component of this collaboration, ensuring a harmonious and productive partnership.”
With this partnership, customers can expect an even more well-rounded team, capable of delivering a wider range of services. DS Tech will also be able to access New Charter’s best-in-class cybersecurity offerings through Cyber74, up-leveling those vital capabilities, as well as web development and marketing services.
Mitch Morgan, New Charter Technologies CEO, is excited to welcome DS Tech to the growing roster of managed service providers (MSPs).
“We are thrilled to join forces with Eric and the DS Tech team,” said Morgan. “The company definitely fits the New Charter profile of best-in-class MSPs in so many ways. They have a very strong commitment to client satisfaction and a focus on excellence in all that they do. We believe that New Charter represents a great home and offers a growth path to their outstanding group of tenured employees.”
“It was an honor and privilege to represent DS Tech in its newfound partnership with New Charter Technologies,” commented Leah White, FOCUS Managing Director. “FOCUS looks forward to watching the company’s growth for years to come.”
*These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.