MSP Corp Adds New MSPs to Growing Portfolio, Appoints Three New Board Members Following Growth Capital Raise

TORONTO, Jan. 11, 2022 /PRNewswire/ -- MSP Corp Investments Inc. ("MSP Corp"), a platform of entrepreneurial managed services provider (MSP) operators, has added two new Canadian-based MSPs to its growing portfolio and appointed three new board members following the closing of a $35 million growth capital transaction led by BDC Capital's Growth Equity Partners - Fund II with senior lending participation from CIBC.

"Our pitch to MSPs is a simple one: We are private operators buying private operators," said Ravi Ramharak, co-founder and managing director of M&A at MSP Corp. "From what I can tell, it seems to be resonating with owners, investors, and the industry. We are receiving more inquiries today than ever before, and we look forward to having more conversations with owner/operators, evaluating more MSPs, and welcoming more businesses to the MSP Corp family this year."

MSP Corp, which also provides MSPs access to a full stack of solutions for accounting, legal, insurance, human resources, backup and compliance, has acquired 10 MSPs since 2020 and continues to be an active acquirer throughout Canada, with plans to expand into the U.S. in 2022.

"In addition to the businesses we have recently acquired, I am excited to welcome three new members to MSP Corp's board of directors," he said. "They are well respected in their own respective industries, and I look forward to serving with them in the coming year."

The three new additions to MSP Corp's board include the following members:

Michael Notto, partner of Growth Equity at BDC Capital. Notto has 20 years of diverse professional experience, including roles in private equity, corporate strategy, operations and investment banking. Having evaluated and executed transactions from all sides of the table — as an operator, investor, owner, and advisor — Notto brings a well-rounded and constructive perspective to his partnership with management teams. Before joining BDC Capital, he held several M&A positions at Canadian Tire, Novacap, and Public Mobile (a PE-backed start-up).

Stephan May, managing director of Welch Capital Partners. May has years of experience in M&A, debt capital, private equity, advisory and restructuring services. He works with companies to maximize their value and ensure a smooth transition process, whether through buying or selling, financing, or restructuring. Prior to Welch Capital Partners, May held roles as the managing director for Storeyworks, a boutique finance advisory firm, and the director of corporate development for TUC Brands (now Fully Managed IT), where he was responsible for all corporate development, which included, M&A, partnerships, and corporate finance.

Scott McDonald, principal executive at Amazon Web Services (AWS). For two decades, McDonald has worked in various roles in the technology sector, including enterprise hardware/software, consumer software, cyber security and cloud computing. Prior to AWS, he worked for Herjavec Group, a global leader in cyber security, IT risk management, and managed security services, where he developed the financial services business. McDonald also currently advises a handful of Canadian start-ups and growth stage companies and oversees the development of the Future of Money event in partnership with the Munk School at University of Toronto, Royal Bank of Canada among others.

"MSP Corp continues to deliver on its promise to acquire high-performing MSPs and assist them with providing resources, technology, and business support," said Jason Dacosta, co-founder and president of MSP Corp. "With the addition of our recent round of acquisitions and the highly respected members to our board, we are excited to continue our acceleration of MSP acquisitions throughout 2022 and our expansion into the United States."

MSP Corp raised the $35 million in growth capital in September 2021 to accelerate the acquisition of and partnerships with trusted MSPs across Canada.

About MSP Corp Led by a group of entrepreneurial MSP operators focused on acquiring and partnering with MSP businesses across Canada, MSP Corp delivers resources, technology, and business support to empower exceptional MSP teams, and provides successful exits for business owners. Unlike other buyout firms, MSP Corp owners and team members have been working in the technology industry since early 2000s and have built multiple IT businesses together. MSP Corp's executives don't just talk IT; they live IT.

Media Contact:
CJ Arlotta
CJ Media for MSP Corp
C: 631-572-3019
E: [email protected]

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SOURCE MSP Corp