The 20 MSP Broadens Reach with Latest Round of Acquisitions
The 20 MSP bolsters national footprint with trio of new roll-ups.
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PLANO, TX, May 01, 2024 —
Premier managed IT services provider, The 20 MSP, has announced the completion of three more MSP acquisitions. Joining The 20’s rapidly growing ranks are Tech Junkies (Kansas), Matrix Solutions (Mississippi), and Level 10 Technology (Kentucky & Tennessee).
These acquisitions are the latest moves in an aggressive M&A plan that started in 2022 with a flurry of deals. Thirty-three acquisitions later, The 20’s extensive roll-up is well under way, and according to the company’s founder and CEO, Tim Conkle, there’s plenty more in the pipeline.
“We have a large pool of MSPs interested in selling to The 20 – companies that belong to our membership-based growth platform, The 20 MSP Group, as well as MSPs that caught wind of our unique M&A approach and want in on the action,” Conkle shared.
The 20’s consolidation strategy is unique in the extent to which it builds on pre-existing synergies, including shared tools and processes to ensure standardization and seamless scalability.
“While it’s true we’re acquiring MSPs at a fast clip, there’s absolutely nothing rushed about our process,” Conkle said. “That’s because we prioritize alignment in our selection of acquisition targets. This is essential to the end game, which is of course building a truly national MSP with uniformly excellent service.”
The 20 is well on its way toward achieving this goal, and it’s worth noting that almost all of the MSP owners who sell their companies to The 20 are sticking around the long haul, assuming leadership positions within the organization. This holds true for this latest round of deals, highlighting a key element in The 20’s approach.
“We’re retaining not only leadership, but also employees,” Conkle explained. “That’s because we’re acquiring companies who share our long-term vision and are already lined up with our way of working. This means less friction, fewer unforeseen hiccups, and happier employees and clients. Our attrition rates are virtually non-existent with these deals.”
As The 20 casts its net more widely to include non-member MSPs in its pool of acquisition candidates, it remains steadfast in its commitment to preserving standardization and operational unity.
“Some MSP owners want to sell but still remain relatively independent, operationally speaking,” said Conkle. “That’s a viable approach, but it’s not ours. We’re building something big, and it’s vital that we’re all on the same page when it comes to the important things – processes, culture, and strategic vision.”
The 20 is also giving MSP owners the opportunity to reinvest in the conglomerate, setting them up for a ‘second bite of the apple’ further down the line.
“The MSP owners transitioning to new roles within our organization have skin in the game,” said Conkle. “These are highly motivated and engaged individuals, many of whom have been working together for multiple years within the context of our group. The camaraderie is unreal, and it keeps us on the right path as we continue to grow.”
Pinecrest Capital Partners served as the exclusive financial advisor to The 20 MSP on the acquisitions. Texas-based Sunflower Bank, acting as sole lead arranger in a syndicated credit facility for The 20 MSP, provided the funding tranche.
