|By Business Wire||
|April 21, 2014 03:03 PM EDT||
PC Network Services, Inc. (“PCNS”), a full service provider of outsourced IT solutions and managed services, announced today that Brook Venture Partners has led an investment in the firm with co-investors Blue Heron Capital, an operationally focused private equity firm based in Richmond, VA and Prides Crossing Capital of Wakefield, MA. Cogent Growth Partners, a Mergers & Acquisitions consultancy focused upon the IT Services industry, assisted in sourcing the transaction. The investment will further support PCNS as it aims to grow the service capabilities and geographic presence.
In conjunction with the investment, PCNS also announced today that Michael Halperin has been named CEO. Michael has over 15 years of executive experience, including Fortune 100, Small-and-Medium Businesses and start-up firms. Michael has been named one of the top 250 most influential people in the Managed Services industry worldwide four times, and led a Managed Services practice twice named one of the top 100 Managed Service Providers worldwide.
PCNS holds an outstanding reputation in providing managed services, end user support, cloud services and hardware & software products. In 2014, PCNS has been named to the MSPmentor Top 200 Managed Service Providers in North America. PCNS has customers across a variety of industries including legal, manufacturing, financial, non-profit and a number of other industries.
Brook Venture is known for stimulating growth by driving sales and marketing development in its portfolio companies, with current and past portfolio companies such as IMN, Intac International and Relevate.
“We are excited about the investment in PCNS, as they have a fantastic service record with their customers and we believe there is excellent growth potential for the company,” said Fred Morris, Partner at Brook Venture. “The outsourced IT market is highly fragmented and regional, presenting an outstanding opportunity to expand the company’s geographic reach and industry-leading service excellence.”
“Our investment in PCNS and partnership with management and Brook Venture Partners is very positive for our investors," added Jim Cheng, who will be representing Blue Heron Capital on the board of the company. "We believe PCNS has a tremendous brand and leading market position based on its unparalleled operational expertise and service delivery.”
About Brook Venture Partners
Brook Venture Partners provides expansion stage capital through Brook Venture Fund I, Brook Venture Fund II and Brook Partner Funds I, II, III to Information Technology and Medical Technology companies located in the eastern United States. The firm focuses on acquisition investment of $5-10 million and specializes in both financing and providing the strategic and planning support necessary to manage growth. Brook is headquartered outside Boston in Wakefield, MA. For more information, call 781-295-4000 or visit www.brookventure.com.
About Blue Heron Capital
Blue Heron Capital is an operationally focused lower market private equity firm based in Richmond, Virginia. Blue Heron supports portfolio companies with a team of proven industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses. The firm invests in buyout and growth equity opportunities in the healthcare, security, and business services industries. To learn more, please visit www.blueheroncap.com.
About Prides Crossing Capital
Prides Crossing Capital provides senior and subordinated debt financing to lower middle market companies. To learn more, please visit www.pridescrossingcapital.com.
About PC Network Services, Inc.
Based in Sewickley, PA, PC Network Services provides outsourced IT services (integration, network design, and support) for firms in the small and medium business (“SMB”) market utilizing cloud and virtual services. To learn more, please call 412-928-8670 or visit www.pcnsinc.com.
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