Acquisition expands footprint into Texas and adds new services, capabilities to serve small and mid-sized businesses across Central and Southern U.S.
Kian Capital-backed The Purple Guys, a leading provider of managed IT services to small and mid-sized organizations, completed the acquisition of Technology Pointe (“Tech Pointe”), an Austin, Texas-based IT managed services provider. The investment achieves The Purple Guys’ goals of expanding into Texas, adding scale to its solutions portfolio and bringing together teams of high-performing and talented employees in support of a growing and complementary client base.
Tech Pointe has over 20 years of experience providing best-in-class managed IT services, strategy and support to the small to medium-sized business (“SMB”) community across a range of industries throughout the state of Texas. The company’s demonstrated client-first focus and market-leading presence in Austin and Dallas will significantly enhance The Purple Guys’ platform.
Kevin Cook, CEO of The Purple Guys, stated, “As we continue to deliver on our promise to create a new industry standard for managed IT services to the SMB community, we are excited to once again expand our presence with the acquisition of another forward-looking leader in the space. Chuck Cobern, Glenn Iltis and the talented team at Tech Pointe created a market-leading outsourced IT experience for their clients, and we look forward to building on their success.”
“Joining The Purple Guys is an exciting time for our team,” said Chuck Cobern, Founder of Tech Pointe. “It was imperative for Glenn and me to find a partner that values our employees and clients as much as we do. By combining our capabilities with those of The Purple Guys, we have an unprecedented opportunity to add tremendous value to the services we provide to support our clients’ IT needs. Furthermore, our employees are set to benefit significantly from the new opportunities that lie ahead.”
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Tech Pointe marks the fourth acquisition for The Purple Guys since the formation of its partnership with Kian Capital and ParkSouth Ventures in January 2020 and the first since announcing its rebranding. Cook added, “We remain committed to our strategic growth plan to add scale and innovation for our clients while preserving our people-first culture. Tech Pointe will play an important role in our future success, and in 2022 we plan to continue executing our acquisition strategy across the Central and Southern U.S.”
Matt Levenson, Partner at Kian Capital, commented, “Increasing complexity and security concerns have made IT management a core strategic priority for SMB decision-makers. The Purple Guys has successfully executed several important growth initiatives over the past year—both organically and through strategic acquisitions—to better address the complex needs of their customers. We have been looking for a strategic partner with roots in Texas and Tech Pointe presents a significant opportunity to expand on the company’s success and drive continued growth throughout the state. We are thrilled with the prospects of this new partnership and those to come.”
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