Washington, DC, (July 11, 2022) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that DSM, a Florida-based managed service provider (MSP) that supports state, local, and education (SLED) government agencies, has been acquired by Thrive, the next-gen MSP backed by private equity firm, Court Square Capital Partners. FOCUS served as catalyst for the deal with Thrive, and exclusive financial advisor to DSM. Financial terms of the deal were not disclosed.
DSM, founded in 1986, has 63 employees listed on LinkedIn. The company, based in Lakeland, Florida, offers data protection, disaster recovery, and managed cloud services backed by Criminal Justice Information Services compliant data centers.
DSM is Thrive’s third MSP acquisition in Florida over the past six months.
Thrive has acquired more than a dozen MSPs, IT service providers, and consulting firms since 2016. The company now positions itself as a “security-first MSP” that delivers “comprehensive managed services and unmatched expertise to drive secure digital transformation for small to mid-sized enterprises across multiple industries,” according to Thrive.
“DSM is a leader in the SLED space with significant traction in the state of Florida. With this partnership, they’ll be able to augment their cloud-based service offerings via Thrive’s Security Operation Center (SOC) and comprehensive suite of cybersecurity services,” stated Rob Stephenson, Thrive CEO. “DSM’s talented engineers and experienced management team will help to greatly enhance our rapidly growing Florida presence, as well as position the SLED vertical to go national under their leadership.”
“For over three decades, DSM’s primary objective for our clients has been to optimize their digital transformation and their journey to the cloud,” added David Robinson, DSM CEO and Founder. “We are delighted to be the newest members of the Thrive family as their dedication to providing a personalized IT path towards customer satisfaction complements our commitment to total IT peace of mind for our clients.”
“It was an honor for FOCUS to be the catalyst for the marriage between Thrive and DSM,” commented Abe Garver, FOCUS MSP Team Leader and Managing Director. “Over the past few years that we got to know Karl Muehlberger (CFO/CCAO) and CEO David Robinson at DSM it became clear to us that the perfect ‘fit’ for DSM’s employees, customers, and shareholders was Thrive. What an absolute pleasure to see two management teams so passionate about joining together.”
About FOCUS Investment Banking
With more than three decades of experience, FOCUS Investment Banking is a trusted name in middle market M&A advisory services worldwide. Whether helping to sell, buy, or raise capital, FOCUS strives to maximize the value of every transaction for the benefit of its clients.
FOCUS’s Managed Service Provider (MSP) Team is one of the most active and successful in North America. FOCUS’s MSP Team executes on a customized strategy tailored to meet each client’s objectives. We bring deep industry expertise and years of transaction experience to every engagement.
Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information, visit https://focusbankers.com/msp/.
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