Nexus IT completes acquisition of Austin-area Loyal IT
Nexus IT said it has completed its acquisition of Loyal IT, extending the Salt Lake City company’s managed services platform into Texas.
Nexus IT said Tuesday that it has completed its acquisition of Loyal IT, an Austin-area managed IT services provider, expanding the Salt Lake City company’s platform into Texas.
According to the PR Newswire release, Nexus IT said it is using acquisitions to grow a national managed services and cybersecurity business focused on clients in healthcare, finance and other regulated industries. The company said the purchase is its 12th successful deal and fits its plan to build one of the Top 10 MSP/MSSPs in the U.S. MSP and MSSP are shorthand for managed service provider and managed security service provider.
Nexus IT offers managed IT, cloud, cybersecurity and compliance services, the release said. Loyal IT has more than two decades of experience in managed and co-managed IT, advanced cybersecurity, compliance consulting, cloud and datacenter services, network infrastructure and VoIP, the release said. Loyal IT also serves clients in legal, accounting, healthcare and other compliance-driven industries.
Nexus IT said the transaction is part of a programmatic merger-and-acquisition strategy backed by a $60 million growth facility from Metropolitan Partners Group. The release said Nexus IT has a 27-year track record.
Earl Foote, founder and CEO of Nexus IT, said the acquisition strengthens the company’s ability to deliver secure, scalable IT solutions while preserving local service and trusted relationships.
Loyal IT said it chose Nexus IT from more than 700 interested buyers in the M&A market. The release said Loyal IT’s team and clients will be integrated into Nexus IT’s national platform.
Metropolitan Partners Group, which Nexus IT cited as the source of its growth facility, was founded in 2008 and says it has deployed more than $3.4 billion across more than 170 transactions, according to the release.
The next step is integrating Loyal IT’s operations, staff and clients into Nexus IT’s platform as the company continues its acquisition campaign.
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