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Jan 27, 2022, 06:00 ET
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CHICAGO, Jan. 27, 2022 /PRNewswire/ — PSP Capital, a global private investment firm founded by its Chairman, Penny Pritzker, has partnered with senior management to acquire Ntiva, Inc., a leading provider of managed IT services, managed security services, strategic consulting, cloud solutions, unified communications and other technology services.
Ntiva was founded in 2004 by Steven Freidkin and is one of the largest nationwide IT managed service providers (MSPs). The company was named one of Inc. 5000’s Fastest Growing Companies in America seven times and has been recognized by CRN with the Triple Crown Award for four consecutive years, as a leading information technology solution provider.
"Our DNA for years has been to build durable, enduring businesses and that’s why we are incredibly pleased to announce our partnership with Steven and the Ntiva team," said Penny Pritzker, Chairman of PSP Partners and former U.S. Commerce Secretary. "This is an innovative company with a fantastic management team made up of executives with deep domain expertise. Ntiva’s strong culture and values of providing world class technology and client service while creating jobs and economic opportunity is a perfect match for our firm."
"We are honored to partner with PSP Capital," said Steven Freidkin, CEO and Founder of Ntiva. "Not only are our core values and long-term vision aligned to build a best-in-class company, we are both deeply invested in creating meaningful jobs and opportunity throughout the country. Our mutual commitment to innovation, job creation, education and philanthropy is game changing. Ntiva’s platform is focused on accelerating growth through technology and that focus will be supercharged by this partnership, all while embracing a conscious commitment to social good."
Offering strategic technology partnerships to thousands of organizations, Ntiva has grown rapidly across the United States. Locations currently include Washington, D.C., Maryland, Virginia, Illinois, Colorado, New York, West Virginia, and Southern California. Ntiva serves clients across a variety of sectors, including: government contractors, nonprofits/associations, legal services, manufacturing, financial services, healthcare, private equity/M&A, construction, and professional services.
"We are incredibly excited to partner with Ntiva, a leading provider of managed technology services and one that fits perfectly with our digital transformation investment thesis within the business and technology services sector," said Troy Noard, Managing Director of PSP Capital. "We are very bullish on the company’s future and look forward to working with Steven and the Ntiva team to build a broader platform through continued organic and inorganic growth."
AB Private Credit Investors provided financing for the transaction and Katten Muchin Rosenman LLP provided legal counsel to PSP Capital. Harris Williams and Stifel served as financial advisors and Finn Dixon & Herling LLP served as legal counsel to Ntiva, Inc.
About Ntiva, Inc.
Ntiva is a leading IT services company that provides businesses across the U.S. with advanced technology expertise and support, including managed IT services, strategic consulting, cybersecurity services, cloud services, and telecom solutions. Their team of world-class talent genuinely cares about the relationships they build and understands that response and precision are fundamental keys to a successful partnership. Ntiva’s ultimate objective is to help clients leverage their technology investments to improve business performance. For more information, visit www.ntiva.com.
About PSP Partners:
PSP Partners is a Chicago-based private investment firm founded by its Chairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist, and former U.S. Secretary of Commerce. The firm is comprised of a highly experienced team of investment professionals and business builders focused on partnering with entrepreneurs, business owners, and management teams to build market-leading businesses and develop valuable assets. With investment strategies focused on established businesses (PSP Capital), emerging/growth companies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners invests across stages and asset classes with a primary emphasis on business & technology services, advanced industrials and real estate that are well-aligned with its expertise and experience. For more information, visit www.psppartners.com.
SOURCE PSP Capital
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