Cantey Tech Consulting, an IT managed service provider backed by private equity firm LNC Partners, has acquired Palindrome Consulting for an undisclosed amount. FOCUS Investment Banking, a national middle market investment banking firm, represented Cantey Tech in this transaction.
This is technology M&A deal number 997 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Cantey Tech, founded in 2007, is based in North Charleston, South Carolina. The company has 63 employees listed on LinkedIn. Cantey’s areas of expertise include IT support, managed services, virtualization, networking, PC support, cloud, hosted services, Microsoft 365, Meraki, Cisco, Dell, Microsoft and Apple.
Palindrome Consulting, founded in 1999, is based in Hollywood, Florida. The company has 14 employees listed on LinkedIn. Palindrome’s areas of expertise include business continuity planning and IT consulting.
Cantey Tech Acquires Palindrome: Southeastern Expansion
Palindrome’s team, including founder and president Ilan Sredni, have joined Cantey Tech, the companies said. The deal allows Cantey to expand into Florida in pursuit of its overall growth strategy throughout the southeastern United States, according to the company.
Willis Cantey, president, Cantey Tech, commented:
“We are delighted to partner with the Palindrome team, which has provided its clients with high levels of service for more than 20 years. Cantey Tech is excited about our initial entry into Florida through this partnership and we look forward to further expansion in the state with devoted resources to achieve this growth.”
Ilan Sredni, founder and president, Palindrome, said:
“In an increasingly complex IT environment, partnering with Cantey Tech allows us to offer our clients additional services and solutions, while continuing to provide them with top notch support and advice. The Cantey Tech team was great to work with during the transaction, and they delivered on the promised timeline and terms.”
About Cantey Tech
Cantey has made the Inc. 5000 list of fastest-growing privately held companies in the United States for nine straight years.
Private equity firm LNC Partners backed the company in July 2021. That investment was earmarked to help Cantey Tech pursue acquisitions, the private equity firm and MSP said at the time.