The Merger Makes the Combined Company One of the Largest MSP Networks Serving the Small and Medium-Sized Business Market
Iconic IT announced the completion of its merger with Integris, a move which will combine the company under the Integris umbrella. With 170 employees operating in offices in five states, the addition of Iconic IT will make Integris one of the largest managed service providers dedicated to the small and medium-sized (SMB) business sector.
With the completion of this merger, the Integris network will have offices in 10 states, with more than 440 employees, all offering high-end enterprise IT services and round-the-clock security monitoring scaled for the SMB market. The merger is an important part of the Integris network’s growth strategy, which mirrors the rapid consolidation now seen in the MSP industry.
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“Iconic IT was an early leader of the consolidation trend in 2019, when Capstone IT, Live Consulting, Choose Networks, and Networking Results merged to form Iconic IT,” said Mike Fowler, former CEO of Iconic IT, who will now serve as Chief Operating Officer at Integris. “Now, we’ve merged our combined company with Integris. It was the logical next step and allows the network we’ve built to be part of an expanded footprint as a national, premium managed services provider,” Fowler added.
Integris has partnered with Frontenac, a Chicago-based private equity firm, to build a national MSP platform. Financial terms of the transaction were not disclosed. With this merger complete, Integris will now have a network of offices in New Jersey, New York, Maryland, Minnesota, Michigan, Colorado, Kansas, Florida, Georgia, and Texas.
The merger combined companies with similar product offerings, services and corporate values, company leaders said. The name for this merged network, Integris, is coined from the term integrity, the value that underpins the very foundation of all the organizations. Choosing a name that reflects this commonality builds unity and defines its course for the future as an award-winning MSP industry leader in several industry verticals. Together with Frontenac, Integris is on a path to build a national provider of managed IT services, with differentiation through the focus on operationally mature professional services clients, operational excellence, and employee engagement and development.
Chris Hoose, CFO of Iconic IT and now VP of Growth for Integris said, “We always knew that growth was necessary if we wanted to stay relevant and continue to provide the IT and security services that small businesses need. All the entities that have come together to form Integris—including Iconic— share that philosophy. Joining the Integris platform provides us with additional resources to both support our clients and offer an expanded career path for our employees. On a personal note, it is exciting to come together with peers we have known for a number of years. We’ll be guided by a board of directors that is comprised of some of the leading minds in our industry, a couple of which have had a profound effect on me personally.”
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The combined firm will be led by Rashaad Bajwa as CEO, Mike Fowler as COO, John Marinac as CTO, Bill McCharen as CPO, Joseph O’Hara as CFO and Jason Erickson as CSO.
Rashaad Bajwa, CEO of Integris, said “Iconic IT paved the road for the path that Integris is on now. They were one of the first to bring together best-in-class MSPs from across the country to build a stronger platform for clients and staff. Bringing Iconic IT and Integris together is a continuation of their “Better Together” thesis and accelerates our shared journey forward in building the first national premium MSP platform.”
To add to their momentum, Integris is excited to announce that Paul Dippell, industry veteran and Founder & CEO of Service Leadership, Inc., is joining the Board of Directors. As founder of Service Leadership, Inc., Paul brings more than 35 years of experience building, running, acquiring, and integrating IT Solution companies.
“I am eager to join the Integris Board at this exciting time in the company’s growth,” Dippell shared. “I look forward to leveraging my past experiences in integrating IT Solution companies and helping them attain best-in-class results. Combining like-minded companies and talented people together to bring unique, high- value offerings to Integris’ end customers will ensure its continued success at scale,” Dippell added. “Paul is an industry icon,” said Bajwa. “He has been the architect of many of the best practices we have all been using for many years to build our businesses. To have him join the Board to help guide Integris forward is both humbling and energizing,” Bajwa added.
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