Netech Corporation has been sold to Presidio
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce the sale of Netech Corporation (“Netech” or the “Company”) to Presidio. Terms of the transaction, which was completed on February 1, were not disclosed.
Netech is an IT services and solutions integrator that was founded 19 years ago and is headquartered in Grand Rapids, Michigan. Netech joins Presidio, a $2.8 billion leading IT solutions provider that offers consulting, managed services and ITaaS to U.S. mid-market and enterprise customers. Netech’s 11 offices across the Midwest created a unique regional footprint that was leveraged to deliver core offerings, such as design, integration and optimization of data center and cloud, network and physical security, collaboration and enterprise networking solutions. Netech was recognized as one of Cisco’s top regional partners and developed strategic partnerships with other leading IT providers, including VMware, NetApp, EMC, Lenel and Dell. As a comprehensive solutions provider with a service-centric approach, the Company attracted a highly diversified customer base spanning various sectors, including corporate, education, government and healthcare. The Company had more than 430 employees and almost 200 engineers holding over 1,200 technical certifications. Netech now represents Presidio’s sixth geographic area, becoming the Presidio North Central Area.
Jim Engen, President, Chief Executive Officer and Founder of Netech, commented, “We are very pleased with the outcome of this transaction. The Lincoln team ran a well-executed process from start to finish that yielded an outstanding result for the Company and its shareholders. As a result of Lincoln’s expertise, guidance, focus on shareholder objectives and ability to navigate the intricacies of our industry, Netech has joined a tremendous company in Presidio.”
Lincoln acted as the exclusive financial advisor to Netech, working closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
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