Charlotte, NC; August 8, 2012 — DecisionPoint, a leader in M&A advisory services for middle-market technology companies, announced today that its client Protek Corporation (“Protek”), a premier managed services provider (MSP) in Southwestern Ontario with headquarters in London, Ontario, has been acquired by TUC Brands (“TUC”), a Canadian firm that develops businesses in the managed IT services and cloud computing industry. Terms of the transaction were not disclosed.
Since 1983, Protek has been dedicated to providing innovative IT systems integration and was recently named to CDN’s Top 100 Solutions Providers list of top performing MSPs. Protek is also a long-time member of Ingram’s VentureTech Network and one of its principals, Peter McMahon, is past-president of VTN Canada.
Protek continues TUC’s strategy of acquiring best-in-class MSPs that are well established and regarded in key markets in Canada and the US. Protek’s customers will now benefit from expanded helpdesk hours and capabilities, along with a deep technical bench and expanded services in areas such as virtualization, networking and security from TUC headquarters in Ottawa.
“About a year ago we were approached by DecisionPoint who introduced us to two US-based IT firms interested in expanding to Canada. In addition to these firms, we were introduced to TUC in March 2012 expressing an interest to expand to SW Ontario. Al, Peter and I assessed our options and after considerable dialogue with all parties, concluded that TUC would be the best option for our clients and employees. We needed to join forces with an organization with national reach and a proven ‘next-generation’ remote managed services operating model to help our customers and employees grow into the future,” stated Harvey Schilke, CEO of Protek. “After we evaluated several potential acquirers, TUC became the obvious choice the further we engaged with them and began to work with their leadership team. We are very excited about the prospects for our business and expansion ahead.”
“We are very pleased to facilitate this combination of two progressive managed services providers” said Tom Wilson, Managing Director at DecisionPoint. “As small businesses increasingly look to outsource technology operations to high quality providers, we think the TUC Brands value proposition of increasing scale and capability will deliver value to their clients.”
The Protek acquisition brings TUC a large customer, revenue and employee base, along with a strong technical bench with key vendor relationships and certifications. Protek’s core business is delivering managed IT solutions to small and medium-sized businesses primarily in London, but also in neighboring cities from Windsor to Kitchener-Waterloo. In addition to managed IT and professional services, a key offering for TUC is Protek’s Managed Print program. TUC has appointed Elizabeth Walpole as President for the London region to work with the Protek team, including initially heading up integration.
“We are very excited to add such a quality organization to the TUC fold,” stated Mark Scott, CEO of TUC Brands. “We were looking to grow our presence in Southwestern Ontario, which is one of the key markets in Canada, by acquiring a strong regional MSP and we are very proud to add their team and expertise to our organization.”
About Protek Corporation
Protek is the leading provider of managed IT solutions to small and medium-sized business in Southwestern Ontario. Since 1983, Protek has been dedicated to providing innovative IT systems integration. Protek provides the expertise and knowledge to keep organizations moving forward and reduce IT costs. More than providing innovative technology – Protek applies strategy and analysis to make technology an investment in customer’s success. Its team of IT specialists works to understand businesses in order to recommend and deliver the right technology solutions that will deliver the required results. For more information, visit www.protek.ca
About TUC Brands
TUC Brands develops businesses and ideas in the managed IT services and cloud computing industry. Its Franchise 2.0 opportunity provides entrepreneurs and investors with a complete framework to build, buy and accelerate a managed IT services business. The MSPXchange program provides managed service providers (MSP) with the ability to monetize their business through either a structured merger or acquisition strategy, leveraging TUC’s proven MSP business and technology platform. For more information, visit www.tucbrands.com
DecisionPoint is a unique leader in M&A advisory services for middle-market technology companies and their venture capital investors in the software, services, cleantech, biotech, healthcare IT and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Tom Wilson, Managing Partner; (704) 248-1124; .