IT solutions companies Tech-Keys and Beringer Technology Group are excited to have recently joined forces with Tech-Keys acquisition of Beringer. Tech-Keys’ CEO Michael Fried expressed his enthusiasm over this development stating that it “represents another step in our vision to become the most trusted technology partner in the United States.”
Both New Jersey-based industry leaders, the two companies have focused on solutions for small to medium businesses, with a shared emphasis on customer service and support. Tech-Keys says it will continue to pursue this common ethos of “client success and employee development” as it seeks to make further acquisitions in the near future. Beringer Technology Group’s areas of expertise will compliment Tech-Keys’ experience in IT design, implementation, support and maintenance. Together they form a formidable presence across New Jersey, and provide both cloud managed and IT services.
Beringer Technology Group, a Microsoft Dynamics 365 partner, has been primarily focused on network services and support, customer relationship management, and business telephone systems/VoIP. At the beginning of this year, Beringer expanded their presence in central and northern New Jersey when they acquired DeckerWright Corporation, an IT solutions-focused full service MSP. Beringer Technology Group is listed in the top 1 percent among Microsoft’s partners, and has been gold certified for more than 15 years.
Tech-Keys is backed by MSP investor Evergreen Services Group, this marking Evergreen’s 20th investment over the past two years, and Tech-Keys’ first since Evergreen invested in them in October 2019. As Ramsey Sahyoun, head of M&A at Evergreen Services Group noted, the acquisition is a testament to the company’s strength during these difficult economic times. The acquisition was made at an undisclosed amount.
Since early May, the MSP industry has stabilized following the upheaval COVID brought on earlier in the year. For deals that had already been in process from March through early May, sellers made slight compromises, such as extended earn-out opportunities instead of more cash up front. Though Service Leadership does not predict a recession, MSP revenues could fall 20 percent if an extended recession were to come about.
