New Charter Technologies, an equity partnership model operated by Oval Partners, has partnered with Biz Technology Solutions, which provides IT services, including virtualization, enterprise networking, and business intelligence. The partnership will enable BTS to access more funds to invest in new technologies, scale its operations, and hire talent quickly. New Charter Technologies has invested in and acquired over 10 MSPs since 2020, including Strategic Solutions, Braver Technology, and Greystone Technology. Despite the many M&A deals, none of them fit into the traditional “sell and exit” strategy for the MSP owners. Oval Partners invests in the companies and helps them scale, keeping the previous owners on hand to run and expand the company using lessons gleaned from their other businesses.
New Charter Technologies, a company that provides IT services, cloud computing, and cybersecurity, has partnered with Biz Technology Solutions Inc (BTS), a company that offers a range of IT services including virtualization, enterprise networking, and business intelligence. Backed by Oval Partners, a private equity firm in Palo Alto, New Charter Technologies will work with BTS to better serve its customers and provide access to the highest compliance standards. Financial details of the partnership were not revealed.
New Charter Technologies, which was founded in 2018, is based in Denver, Colorado and has 31 employees listed on LinkedIn. BTS, on the other hand, was founded in 2001 and is headquartered in Mooresville, North Carolina, with 51 employees listed on LinkedIn. The partnership will enable BTS to access more funds to invest in new technologies, scale its operations, and hire talent quickly.
According to Mike Chouffani, the president of BTS, the partnership with New Charter Technologies will help the company accelerate its growth and better serve its clients across the country. Mitch Morgan, the CEO of New Charter Technologies, echoed this sentiment and noted that the partnership will preserve the culture and brand of BTS while bolstering its business.
This partnership marks the 78th technology M&A deal in 2023 that has been covered by ChannelE2E and MSSP Alert. For more information on this and other technology M&A deals from 2022, 2021, and 2020, readers can refer to the 2,000+ deals listed on ChannelE2E’s website.
New Charter Technologies, an equity partnership model operated by Oval Partners, has partnered with Biz Technology Solutions. New Charter Technologies has previously invested in and acquired over 10 MSPs since 2020, including Strategic Solutions, Braver Technology, and Greystone Technology. Despite the many M&A deals, none of them fit into the traditional “sell and exit” strategy for the MSP owners. Oval Partners invests in the companies and helps them scale, keeping the previous owners on hand to run and expand the company using lessons gleaned from their other businesses. Morgan, the CEO of New Charter, expressed excitement over the partnership, saying that Biz Tech brings a broad set of capabilities to their platform, including enhanced services capabilities that they will be able to take across their growing platform.
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