Washington, DC, (December 15, 2022) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Entech has completed a recapitalization partnership with Prospect Partners. The goal of this funding is to accelerate Entech’s growth and expansion efforts, priming it for a focused acquisition strategy. FOCUS served as catalyst for the deal with Prospect Partners and exclusive financial advisor to Entech.
In its 25th year in business, Entech, a 2022 MSP 501 winner, aims to build the most recognizable managed IT service-focused organization in Florida. Entech realized early on that it needed to attract and acquire like-minded IT companies focused on growth and customers, which the company has honored.
“We always knew it would be imperative to identify the right capital partner with a willingness to allow Entech the autonomy to continue running the business in the same manner we are known for,” said Entech CEO Jake Spanberger. “We found that in Prospect Partners, which has a long history of supporting growing, entrepreneurial services businesses like ours. Their experience in scaling midmarket service organizations, coupled with strong financial relationships and a true commitment to partnership, provides nearly unlimited ability for us to meet or exceed our goals, and do it in less time than initially anticipated.”
Since 2015, Entech has grown exponentially, both in the number of employees and realized revenue. The company has also completed six M&A transactions, resulting in successful integrations and growth. This most recent acquisition strategy will aid in such endeavors in the future.
“Entech is a highly respected organization with an unmatched reputation and market-leading position in the Southwest Florida market. The company has built an industry-leading and scalable model based on superior customer service. It also provides advanced technology and security solutions to its customers,” said Brad O’Dell, a partner at Prospect Partners.
“We believe Entech is uniquely positioned for growth,” added Mike McInerney, a director at Prospect Partners. “We look forward to supporting management as it continues to scale the company and expand its regional presence.”
Entech’s day-to-day management structure will stay the same. The company will continue to be led by Jake Spanberger, Buddy Martin, David Spire, and Jeremy Stakely.
“I’ve known Brad O’Dell and Prospect Partners for over a decade, and a couple of years ago started working to help introduce the private equity firm to potential platform MSP prospects that would be best suited for them,” commented Abe Garver, FOCUS MSP Team Leader and Managing Director. “From the start we saw a great cultural fit between Prospect Partners and Entech in that both businesses liked each other on a personal level. The roadmap for growth in 2023 and beyond is very exciting and we’re excited to be a continued catalyst for great things in the future.”