The 20 MSP Social Roll up iCoreIT

The 20 MSP Makes Strategic Play with Acquisition of iCoreIT

The 20 MSP continues national expansion with acquisition of iCoreConnect’s healthcare-focused managed IT services division.

PLANO, TX, Oct 01, 2024 /PRNewswire-PRWeb/ — Leading managed service provider (MSP), The 20 MSP, today announced its acquisition of iCoreIT, the managed IT services division of iCoreConnect (NASDAQ: ICCT), a cloud-based software and technology company serving the enterprise and healthcare sectors.

As The 20 MSP solidifies its national footprint, the company is broadening its M&A focus beyond geographic expansion to include additional goals, such as strengthening expertise and proficiency in key markets and industries. With the integration of iCoreIT, The 20 MSP seeks to bolster its presence in the healthcare sector and offer more specialized services to optimize workflows for medical and dental practices. The 20 is pleased to announce that while iCoreIT’s leadership will remain with iCoreConnect, the employees of the managed services division will be joining The 20, ensuring the retention of valuable talent and expertise.

Tim Conkle, The 20 MSP’s founder and CEO, commented on the strategic value this latest deal holds.

“When it comes to tailoring managed IT services and solutions to the unique demands of healthcare providers, iCoreIT is at the forefront of things,” Conkle remarked. “Bringing them on board puts us in a very exciting position to give clients operating in that world a distinct competitive edge with tools and solutions crafted with their exact pain points and workflows in mind. We’re talking about delivering industry-leading innovation, security, and compliance services to a sector that critically needs help with these things.”

While The 20 MSP’s end game remains the same – building a premier national MSP with unmatched scale – its M&A strategy has evolved since getting underway in 2022. Initially, The 20’s search for acquisition candidates was confined to “member MSPs” – MSPs belonging to The 20’s growth platform, The 20 MSP Group. This strategy enabled rapid expansion and relatively seamless integrations, while bypassing some of the friction and attrition that can undermine M&A deals. Recently, however, The 20 MSP began to cast its net wider to include non-member MSPs, such as iCoreIT.

“We’ve completed our initial push into the M&A space with a flurry of MSP member acquisitions over two years, and now we’re ready to start zeroing in on more specific goals and targets, which will sometimes mean going outside the group,” shared Conkle. “Our goal was never just to be big. We want to be big, but also, really, really good – and our M&A plans will continue to evolve to accommodate both of these objectives.”

Integrating the managed services division of iCoreConnect, a publicly traded company (NASDAQ: ICCT), followed a rigorous process to protect shareholders and maintain transparency. The 20 MSP was pleased with the ease of the transition and how well their acquisition framework held up under increased scrutiny and oversight.

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.

About The 20 MSP

As a leading provider of managed IT services, The 20 MSP serves thousands of businesses nationwide, providing each one with white-glove service, secure and streamlined IT infrastructure, and 24/7/365 support. We believe in building lasting relationships with clients founded on trust, communication, and the delivery of high-value services for a fair and predictable price. Our clients’ success is our success, and we are committed to helping each and every organization we serve leverage technology to secure a competitive advantage and achieve new growth. To learn more, visit the20msp.com.

About The 20 MSP Group

The 20 MSP Group is an exclusive consortium for Managed Service Providers (MSP) aimed at dominating and revolutionizing the IT industry with its standardized all-in-one approach. The 20’s robust RMM, PSA, and documentation platform ensures superior service for its MSPs’ clients utilizing their completely US-based Help Desk and Network Operations Center. Extending beyond proven tools and processes, The 20 touts a proven sales model, a community of industry-leading MSPs, and ultimate scalability. To learn more, visit the20.com.

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What Our Clients Say

The 20 has helped our company quite a bit over the years. They’ve always done a terrific job and have earned our trust – which isn’t easy when we don’t understand tech like they do. There are a lot of providers out there, and we just want to thank The 20 for being who they are and for providing fantastic service!

Andy Wallman KW2

The 20 has provided us with the infrastructure and support we needed. They have met all of our IT needs, and have well-trained technicians that are wonderful to work with.

Kristi Hawkins Brazoria County Alliance for Children

In the nine months my church has worked with The 20, I’ve been consistently impressed with the level of service we’ve received and the kindness of every single employee I’ve interacted with. Communicating with our IT provider is a relatively new part of my responsibilities, and I’ve felt very supported every step of the way.

Kyra Helmick St. Dunstan's

The 20 MSP has been giving us reliable support for the past few years, they are real helpful in making our machines operate smoothly.

Adrian Musil Die and Tool Service

As a small business, working with the 20 has been a great way to ease the stress of IT issues. They’ve helped with referrals for re-cabling, upgrading to Fiber internet, new hardware, data transfer and backup, and of course the random glitches that need resolving. They also work overtime to make sure things are working even when we aren’t in, calling to check when something isn’t reporting on the weekend so all will be ready when we hit the ground Monday. Anything that arises, it’s great to have the ability to call or e-mail in for assistance and find a friendly expert ready to get things up and running again!

Rochelle Lazo Integribees

After years of patchwork efforts to support the IT aspects of our growing manufacturing business, work with The20 has helped modernized our team and provided the confidence to expand our operations internationally. The20 has truly acted as a partner to ‘steady the ship’ as we have sailed through these waters.

Scott Perry InduMar Products

I can honestly say that The 20 has been a great, reliable partner—especially on short notice. Our company does not have a traditional IT department, but with The 20, it feels like we do. Here’s to our continued partnership, and I look forward to many more years to come.

Ramon Rodriguez TZXAT

We are pleased to report on the outstanding service and performance of The 20 IT security team, particularly in their work on CMMC compliance. Through their meticulous efforts, we are successfully working together to implement and maintain the necessary security controls to protect our sensitive data and meet rigorous DoD standards. The team’s proactive approach in aligning our systems with CMMC requirements has minimized our risk exposure and is a critical factor in securing future defense contracts. Their clear communication and swift action have ensured a smooth compliance process and strengthened our overall security posture.

Neely Hanson

In healthcare, IT issues can’t wait. The20 has been consistently responsive and proactive, handling everything from day-to-day support to helping us scale across new locations. Having a dedicated account manager who helps to connect with the right team members and drives forward on our priorities has also been a huge help.

Marina Simonian

LIFT appreciates the good work that you and your team provide consistently to minimize disruptions and maintain and update continuously our growing and complex IT systems across the enterprise. Thank you for the good work which is critical to our day to day and long term success!

Nigel Francis CEO
LIFT

Our nonprofit has partnered with The 20 for years and they’ve consistently delivered exceptional service on projects both big and small. Their clear communication, responsiveness, and professionalism make them a huge help in keeping our team running smoothly.

Thanks for all you do!

Heather W Ronald McDonald House Charities

The 20 and their attentive staff make it easy to navigate through all things IT. They’re always available to help fix any issues, just a simple text or email away. At West Loop Law, we truly appreciate The20 and look forward to continuing business.

Yesenia L. West Loop Law

Recently I had a quarterly business review with The20 and how they helped answer my questions, go over where we are at and where we are going with regard to IT support was superb. Addressing my concern had me at ease with where I place trust in any IT issues that occurs.

Dan Lilly Power Equipment Group

We love working with Treavor and The 20 team. We truly appreciate the effort he puts into making our partnership feel like family. His dedication and personal touch make all the difference, and it’s been a pleasure collaborating with The 20.

Nikki Gaddis YWCA Houston

Our experience with The 20 has been excellent. Their team is attentive, efficient, and knowledgeable, consistently providing the support we need in a timely manner. We especially enjoy working with Treavor and Justin, who go above and beyond to ensure everything is running smoothly for us. It is a pleasure to know that we have such a reliable and professional IT support group on our side.

Ada Feng Fong Legal

What I love aboutThe 20 MSP is when I call, my IT issues are handled immediately. In most cases, I have a call back from a qualified IT technician within 30 minutes and the problem is resolved on the spot remotely, or my ticket is escalated and I can follow it online.

Kathy Churchman Consolidated Casting Corporation

We have seen reduced downtime and reduced ticket response time. On our server upgrade project, The 20 MSP developed a well-researched, state-of-the-art plan that was the best fit for JQ. The on-site staff is stable, reducing the need for continued knowledge transfer between technicians.

John Hoenig Partner
Jaster-Quintanilla Engineering Dallas
Since we began working withThe 20 MSP in 2010, we have experienced a tremendous improvement in expertise and service. Our transition was seamless and completely painless. I feel 100% confident inThe 20 MSP’s ability to do the job right and communicate when necessary, in a timely fashion. For the first time in years, I feel at ease with the quality, maintenance and reliability of our IT service.
Tracy McCoy Director of Business Operations
Haas Petroleum Engineering Services, Inc.

The 20 MSP handles our IT needs and takes care of our company as if it were their own.

Shane Galford IT Manager
Reliant Worldwide Plastics

The staff atThe 20 MSP truly cares about your needs and helping you support them.The 20 MSP has been an excellent long-term partner for our company in helping us attain and keep current on all of our IT requirements. Their service is always prompt and they go above and beyond to meet our needs. I have used The 20 MSP for 10 years and when I refer them to other businesses, they are blown away.

April Dodd Partner
G&L Mechanical

From the initial contact with the sales team to the white glove level of onboarding, the entire team at The 20 MSP should receive a commendation. We had no prior experience with an IT infrastructure deployment and withThe 20 MSP’s help, we are enabled and protected beyond our imagination and well under the projected project cost. Bloomin’ Blinds is grateful to have a partner likeThe 20 MSP at the helm of our IT managed services.

Kristopher Stuart COO
Bloomin’ Blinds

“Starting a law firm is a huge undertaking. Being that my background is in the law, I had no idea where to start when it comes to technology and protecting my client’s information. The 20 MSP provides top of the line IT services and walked me though every step of the process. I feel confident in my IT services with them and I know that there is always someone ready to take my calls or emails 24/7. No matter the situation, The 20 MSP provides solutions and assistance. I wouldn’t trust my IT needs to anyone else.”

Jennifer L. Grinke Shareholder
Grinke Stewart Law Firm

There are lots of IT management companies, so client service is the distinguishing factor for me.The 20 MSP’s knowledge and service has been outstanding. We worked with them on a complete overhaul of our existing IT infrastructure and I have complete confidence that it is the right system for our firm.

Tom Scott Partner
Jaster-Quintanilla Dallas, LLP