Key Takeaways
- • ICS, a ClearLight Partners portfolio company, acquired TechMD, a California-based managed IT services provider serving small-to-medium businesses in the greater Los Angeles and Orange County regions, completing the deal in October 2022.
- • TechMD, founded and led by Mark Perez and Sebastian Igreti over its 20-year operating history, provided managed IT services, cybersecurity, cloud solutions, and technical services to regional SMB clients; David Bryden continues as regional leader post-acquisition.
- • Kevin Blake, ICS CEO, emphasized cultural alignment and customer service commitment as strategic drivers, while ClearLight Partners partner Kyle Burke highlighted secular tailwinds in the IT managed services sector and Southern California's market attractiveness as key rationale for the transaction.
- • No acquisition valuation was disclosed; Embarc Advisors served as exclusive financial advisor to TechMD.
- • The acquisition expands ICS's geographic footprint from the Northeast into the West Coast SMB managed services market, supporting ClearLight's growth strategy in the fragmented IT services sector.
Summary
ICS, a leading information technology managed services provider and portfolio company of private equity firm ClearLight Partners, completed its acquisition of TechMD in October 2022. TechMD, headquartered in Orange County, California, is a regional managed IT services provider that has operated for two decades under the leadership of co-founders Mark Perez and Sebastian Igreti, serving small-to-medium sized businesses and organizations across the greater Los Angeles and Orange County metropolitan areas.
The acquired company provided a comprehensive service portfolio including managed IT services, cybersecurity solutions, technical support, cloud migrations, and product procurement. David Bryden, TechMD's chief executive officer, will maintain leadership of the regional operations following the transaction. Kevin Blake, ICS's CEO, characterized TechMD's team as culturally aligned with ICS's values and customer service orientation, signaling an emphasis on operational continuity and cultural fit rather than transformational restructuring.
ClearLight Partners' investment thesis centered on favorable secular dynamics within the IT managed services industry and the strategic value of establishing a footprint in the attractive Southern California market. Kyle Burke, a partner at ClearLight, noted that the acquisition positioned the firm to drive growth in the region while capitalizing on industry tailwinds. Mark Perez underscored enthusiasm for expanded service capabilities and career development opportunities for TechMD employees under ICS ownership. The transaction expands ICS's geographic reach from its established Northeast base into West Coast SMB markets, consistent with ClearLight's portfolio strategy in the fragmented managed services sector. Embarc Advisors served as exclusive financial advisor to TechMD; no acquisition valuation was publicly disclosed.
The acquired company provided a comprehensive service portfolio including managed IT services, cybersecurity solutions, technical support, cloud migrations, and product procurement. David Bryden, TechMD's chief executive officer, will maintain leadership of the regional operations following the transaction. Kevin Blake, ICS's CEO, characterized TechMD's team as culturally aligned with ICS's values and customer service orientation, signaling an emphasis on operational continuity and cultural fit rather than transformational restructuring.
ClearLight Partners' investment thesis centered on favorable secular dynamics within the IT managed services industry and the strategic value of establishing a footprint in the attractive Southern California market. Kyle Burke, a partner at ClearLight, noted that the acquisition positioned the firm to drive growth in the region while capitalizing on industry tailwinds. Mark Perez underscored enthusiasm for expanded service capabilities and career development opportunities for TechMD employees under ICS ownership. The transaction expands ICS's geographic reach from its established Northeast base into West Coast SMB markets, consistent with ClearLight's portfolio strategy in the fragmented managed services sector. Embarc Advisors served as exclusive financial advisor to TechMD; no acquisition valuation was publicly disclosed.
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