NEW YORK, NY/ACCESSWIRE/April 26, 2022/ Cloud Equity Group (“CEG”), a lower middle market private equity firm, today announced the formation of Brightworks IT to consolidate the highly fragmented managed service provider industry. The company will focus on acquiring companies and assets as part of a strategy to build a market-leading managed services provider business.
Brightworks IT was created with a vision to build the next nationwide managed IT services market leader by bringing together a comprehensive family of service-focused regional managed service providers. Brightworks IT will align with organizations that share similar values across the United States and aims to accelerate their growth by investing in talent, services and operations. Brightworks IT will seek to become a trusted vendor for its broad base of small and medium-sized businesses, enterprises, non-profits, and residential customers by providing exemplary customer service and reliable IT service.
“Cloud Equity Group has a long and successful track record of executing buy-and-build strategy in fragmented markets,” added Sean Frank, Managing Partner of CEG. “The current market landscape presents a clear opportunity for a comprehensive IT service provider like Brightworks IT to emerge as the provider of choice for managed IT services”
Brightworks IT’s first four partner companies – Data Network Services, Integrated Enterprise Solutions, Information Systems Division and Datacom Specialists – will continue to operate with existing management teams and under their respective names while sharing the Brightworks IT co-brand.
About Brightworks IT
Brightworks IT seeks to create the next market-leading managed services provider by combining leading brands with top-of-the-line operational infrastructure. Brightworks IT’s network of organizations share resources, best practices and expertise to provide quality service to customers and opportunities to employees. To learn more, please visit: https://www.brightworksit.com
About Cloud Equity Group
Founded in 2013, Cloud Equity Group is a leading asset management firm that invests in lower middle market growth technology companies. Cloud Equity Group’s mission is to partner with and support the best entrepreneurs in profitable and growing technology companies. The firm’s deep industry expertise and resources help build great companies to accelerate growth, improve operations and create long-term sustainable value. To learn more, please visit: https://www.cloudequitygroup.com
T: (212) 618-1298
THE SOURCE: Cloud Equity Group
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