Premier Managed Service Provider with High Recurring Revenue in North Carolina

Business Description

This premier Managed Service Provider (MSP) offers an exceptional acquisition opportunity located in one of the fastest-growing regions of North Carolina. The business has a strong foothold in the market with over two decades of operations, providing comprehensive IT support and mobile security services. It serves a diverse client base, including SMBs and some large enterprises with revenues exceeding $1 billion.

Financial Summary:

- Forecast FY 24 Revenue: $4,933,346 | Forecast FY 24 EBITDA: $1,946,721
- TTM (June 2024) Revenue: $4,701,449 | TTM EBITDA: $1,818,314
-  FY 23 Revenue: $4,691,451 | FY 23 EBITDA: $1,591,464
- FY 22 Revenue: $5,095,499 | FY 22 EBITDA: $2,277,716
- FY 21 Revenue: $5,746,769 | FY 21 EBITDA: $2,456,796
*Trailing Twelve Month (TTM) period through June 2024.

Opportunity Highlights:

- Minimal owner involvement
- Strong Customer Tenure: 90%+ customers have 2+ year tenure with Company.
- Contracts automatically renew, ensuring stable future revenue.
- Recurring Revenue: 57% of revenue is generated through annual service-level agreements and managed services contracts. Revenue streams include Microsoft 365, Managed Wireless, Mobile Device Management, Asset Tracking, and more.
- Reoccurring Revenue: comprises approximately 38% of revenue
- One-time Revenue: comprises approximately 6% of revenue
- Experienced Team: Highly skilled staff, many with over a decade of tenure. Strong management team willing to stay on post-acquisition.
- Growth Potential: Company has grown solely through referrals and has no sales staff. Several cross-selling opportunities exist, especially in cybersecurity.

The owner is interested in selling this business to focus on developing a new product. This presents a unique opportunity for strategic buyers to acquire a well-established, profitable business with significant growth potential.

Buyers with existing platform in the MSP industry and private equity groups with a proven track record of activity will be considered.

To learn more about this unique opportunity, please complete the form on this page and you will receive an email with a link to the MidStreet Buyer Application. After submitting this form, our team will review and follow up with a Non-Disclosure Agreement, assuming buyer criteria are met.

Once approved, you will be given access to the Virtual Data Room (VDR) on August 2nd, 2024, featuring a Confidential Information Memorandum (CIM), Marketing Video, and Financial Databook.

Note: A few non-financial figures have been slightly modified to protect the confidentiality of our client.