FOCUS Investment Banking Advises MSP Corp in its Acquisition to Alfar Capital and Walter Capital Partners and merger with Groupe Access
Washington, DC, (May 4, 2023) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that MSP Corp, a renowned Canadian managed service provider group, has been acquired by Alfar Capital and Walter Capital Partners. FOCUS advised MSP Corp in this transaction.
After the acquisition MSP Corp will merge with Groupe Access, a leading managed service provider of technology and cybersecurity solutions. The combined entity, called MSP Corp, creates a national Canadian platform of managed services poised to lead the industry in digital transformation, cloud computing, and cybersecurity solutions.
The new MSP Corp will be majority-owned by Alfar Capital and Walter Capital Partners, who invested new capital to acquire MSP Corp and simultaneously merge it with Groupe Access. BDC Capital, who was already a shareholder in MSP Corp, retains a minority stake in the new entity through its Growth Equity Partners Fund II. After the transaction, management and employees will own more than 10% along with the ownership stakes retained by the CEOs of the two merged entities. This employee buy-in demonstrates broad commitment to the future success of MSP Corp. It also fosters a strong sense of ownership and aligns the interests of the employees with the company's strategic goals. This employee buy-in further strengthens the foundation for innovation, growth, and customer satisfaction.
The new MSP Corp will be led by former Groupe Access CEO, Habib Malik, who will ensure a seamless integration process and a uniﬁed vision for the future. Ravi Ramharak, CEO & Co-Founder of MSP Corp, will remain with the company as Chief Mergers & Acquisitions Officer. Ravi will continue to drive MSP Corp’s strong track record of partnering with business owners and working with them on strategic initiatives. Jason Dacosta, President & Co-Founder of MSP Corp, will exit the business and hand off the reins to Habib and Ravi for its next evolutionary steps. In addition to the merger, MSP Corp is looking forward to future organic and acquisitive growth in Canada and the United States, further expanding its capabilities and market reach.
“This is electrifying time for all our operators and team members, and I am very excited for the next steps,” commented Ravi Ramharak, CEO of MSP Corp. “After working in the MSP industry for over 18 years, I am amazed at the evolution and depth of which all our companies have performed. Under the new stewardship of Habib, I can only imagine the heights our teams will reach in this new partnership that beneﬁts everyone.”
With a Pan-Canadian presence and coast-to-coast coverage, the newly formed MSP Corp will have more than 400 IT experts available to better serve its clients. MSP Corp will serve as the parent organization for an impressive group of 15 companies, located across Canada.
“It was an honor and privilege to represent MSP Corp. in its transaction with Groupe Access and recapitalization with Alfar and Walter Capital,” said Abe Garver, FOCUS MSP Team Leader and Managing Director. “Co-founders Ravi Ramharak and Jason Dacosta built a wildly impressive MSP platform and M&A machine in a relatively short period of time. I know I speak for FOCUS when I say we look forward to fueling additional inorganic growth with strategic assets in the U.S. and Canada in the months and 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.