Breakthrough Technology Group Has Been Acquired By NexusTek

“Through this union, NexusTek is uniquely equipped to help companies small and large increase productivity, lower costs and improve business outcomes. Further, the ability to pivot operations is essential in regulated industries like financial services and healthcare,” the founder of Breakthrough Technology Group and the current chief strategy and revenue officer for NexusTek, Jeff Kaplan, said.

A compounded annual growth rate of 34%

The headquarters of Breakthrough Technology Group are in New Jersey while those of NexusTek are in Denver, Colorado. In the last three years NexusTek has been growing at a compounded annual growth rate of 34% providing outsourcing and IT support including server monitoring, voice over internet protocol, help desk as well as Microsoft Dynamics 365 CRM services. At the moment NexusTek counts over 1,200 organizations as clients and more than 100 employees. The merger of the two firms is expected to accelerate their growth offering better services. It will also lead to faster product development thereby keeping pace with a cyber and cloud security environment that is rapidly changing.

Per Jenner, the call center of NexusTek has the capacity of handling 80% of customer calls prior to forwarding the problems to technicians and engineers. This is not something that smaller managed service providers would be in a position to do due to size limitations. And because of the large number of clients that it has NexusTek is able to run a call center which is efficient. Firms which possess just a few clients find it inefficient to have their own call centers but the scale of NexusTek enables the high efficiency levels enjoyed. This has also resulted in shorter customer waits.

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Recapitalization by Abry Partners

Last year in December NexusTek was recapitalized by Abry Partners, a private equity firm based in Boston, Massachusetts. Abry Partners was started close to three decades ago and it has focused its investments in North America specifically in information, business, communications and media services. Prior to the recapitalization by Abry Partners, Lightview Capital had exited NexusTek. The first time LightView Capital made an investment in NexusTek was in 2014 when the firm acquired a majority interest in the firm. During the period that Lightview Capital had a controlling stake in NexusTek the managed services provider managed to nearly triple the levels of profitability and revenue.

Additionally before the recapitalization move by Abry Partners NexusTek had acquired three cloud service providers and managed service providers – CyberTrails, iPremise and Illumen Group. The acquisition of the latter is what brought in Jenner to NexusTek. According to Jenner Breakthrough Technology Group will not be the firm’s last acquisition and future targets will be those that offer value with regards to access to new verticals and markets, new services and talent.