Washington, DC, (December 5, 2022) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Cantey Tech Consulting, a leading IT managed service provider (MSP) for small and mid-sized businesses in the southeast United States, has acquired Palindrome Consulting, a Hollywood, Florida-based provider of IT managed services. FOCUS advised Cantey Tech in this transaction.
The combination of the two companies provides Palindrome’s clients with additional service capabilities and more resources, while they will retain the local service that they have come to expect. The transaction also allows Cantey Tech to expand into Florida, consistent with its strategy of growing throughout the Southeast.
“We are delighted to partner with the Palindrome team, which has provided its clients with high levels of service for more than 20 years,” said Willis Cantey, Cantey Tech’s president. “Cantey Tech is excited about our initial entry into Florida through this partnership and we look forward to further expansion in the state with devoted resources to achieve this growth.”
Ilan Sredni, Palindrome’s founder and president, noted, “In an increasingly complex IT environment, partnering with Cantey Tech allows us to offer our clients additional services and solutions, while continuing to provide them with top notch support and advice. The Cantey Tech team was great to work with during the transaction, and they delivered on the promised timeline and terms.”
Cantey Tech provides a broad offering of IT managed services, including IT consulting services, help desk support, data security, cloud management, backup and disaster recovery, hosting, application support, and vendor management. The company is based in Charleston, South Carolina, with team members across the United States. It leverages its local focus and presence to provide a high level of responsive support to small and mid-sized businesses across a wide range of industries. Cantey Tech’s team, including its Virtual CIOs, takes the time to carefully understand each client’s business goals and objectives, then develops a customized technology plan and budget to maximize their success.
“FOCUS has been the catalyst for ten (10) MSP ‘Platform’ transactions, and Cantey Tech stands out as one of our fastest growing from an organic growth perspective (e.g. 9x Inc. 5000 fastest growing recognition). The Palindrome acquisition is Cantey’s first since receiving private equity backing from LNC Partners,” commented Abe Garver, FOCUS MSP Team Leader and Managing Director. “This is extremely exciting as it’s the first step in Willis Cantey fulfilling his dream to build the ultimate ‘Peer group’ of Founder/ CEO operators in the Southeast doing business under the Cantey Tech umbrella.”