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Benchmark International has Successfully Facilitated the Sale of Enroute Networks, Inc. to Dynamic Quest

Benchmark International, has successfully negotiated the sale of its client, Enroute Networks, Inc. (“Enroute”) to Dynamic Quest (“DQ”), a portfolio company of Spire Capital Partners (“Spire Capital”), a New York based private equity firm.

Founded in 2001 and based in Marietta, Georgia, Enroute is a leading information technology services provider managing the IT needs and security challenges of small to medium sized businesses. The company focuses on being a value-added reseller and cloud provider of computer networking, telephony, and systems solutions, as well as a fully capable IT managed service provider (MSP) of all solutions it implements. Today, the company employs over 15 people serving customers across the United States with a focus on the Southeast.

Headquartered in Greensboro, North Carolina, DQ is a managed service provider offering IT and cloud services to enterprises and businesses. Founded in 2000, DQ’s services include hosted cloud services, disaster recovery, managed IT, service plans, software maintenance and development, application support, virtual CIO and IT security services. In 2017, the Company serviced over 225 customers across a wide variety of market verticals. Dynamic Quest currently has 119 full time employees and satellite offices in Winston-Salem and Cary, North Carolina and Clark, Philippines. Spire Capital has supported DQ’s strategy of pursuing acquisitions to broaden its geographic reach and scale, while complementing its strong organic revenue growth. The acquisition of DQ marked the seventh platform investment in Spire Capital Partners III, and the strategic acquisition of Enroute represents an excellent addition to this.

Founder & CEO of Enroute, David Hampson, stated, “Benchmark International played an instrumental role in identifying an acquirer whose vision aligned with our own. The team brought multiple offers to the table, and created a competitive bid process among some of the top names in the industry. A big thanks to the Benchmark transaction team for the extraordinary effort in making this deal a reality.”

“It was a pleasure working with David (Hampson) from the early stages of his relationship with Benchmark through to closing. We received excellent feedback from the market early-on and were able to orchestrate a process that resulted in multiple offers and ended with an ideal acquirer sharing many of Enroute’s same core values,” said Trevor Talkie, Senior Associate at Benchmark International. “Enroute is a compelling addition to DQ under Spire Capital’s growing managed IT services platform, and we are truly honored to have worked alongside Mr. Hampson toward this successful outcome.”

Leo VanderSchuur, Director at Benchmark International added, “It was a pleasure to represent Enroute in this transaction, and we’re extremely pleased with the outcome. On behalf of Benchmark International, I’d like to wish both parties the best of luck moving forward.”

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Benchmark International has successfully facilitated the sale of ME Interests LP, DBA First Service Technology to Restoration Risk Management.

Benchmark International has successfully facilitated the sale of ME Interests LP, DBA First Service Technology to Restoration Risk Management. First Service Technology is a professional services company that offers IT and physical security integration consulting, network audits, project management, implementation, and installation for the Texas market.

First Service Technology serves the State, Local, and Public Education markets (SLED). These include Texas K-12 school districts and city and county government entities. The company also serves the commercial market. Ownership consisted of two partners looking to sell the company to de-risk and facilitate growth. Both partners were open to various deal structures and willing to stay with the company on a long term basis.

Restoration Risk Management is a Wyoming based entity with partners in several international locations such as Thailand, United Kingdom and the United Arab Emirates. The acquisition of First Service Technology will facilitateRestoration Risk Management’s entrance into the Texas market.

Benchmark International Transaction Director, Luis Vinals, mentioned “The Central Texas Market is primed for growth across a variety of industries. The consolidation of the IT Services and IT Security sectors prove that now is the time to sell. Currently, buyers are paying sellers historically high multiples for their businesses in this space. In addition, Benchmark International’s Austin office, through its team of Analysits, Associates and Directors were able to uncover an international buyer based in Thailand and the UK with sufficient experience to run and grow First Service Technology. This is testament of Benchmark International’s market reach and understanding across all sectors.

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Benchmark International has Facilitated the Acquisition of Paragon Plastics, Inc. by Ashley Industrial Molding, Inc.

Benchmark International has successfully facilitated the acquisition of Paragon Plastics, Inc. (“Paragon”) by Ashley Industrial Molding, Inc. (“AIM”). Paragon is an original equipment manufacturing company using thermoforming technology to produce custom plastic products for marine, industrial, busing, and aerospace industries.

Paragon was founded in 1993 by David Trout. The company produces high quality OEM components and offers a full range of services including CAD design, pattern milling, plastic forming, assembly, and finishing. The company’s proven track record, commitment to high-quality, professional work, combined with its advanced technology has enabled Paragon to establish a stellar reputation and build long-lasting client relationships.

AIM, headquartered in Ashley Indiana, is a leading manufacturer of quality custom molded and painted plastic products and assemblies. AIM has manufacturing processes which encompasses capabilities in SMC Compression Molding, Reaction Injection Molding and Thermoforming. The primary marketplaces it services are the agricultural, industrial, construction, forestry and military markets. The company continues to expand its product capability and nationwide footprint through acquisitions. The Paragon opportunity became a good strategic fit for AIM’s growth.

David Trout, president and owner of Paragon stated, “The Benchmark team, with their knowledge and experience in M&A transactions far surpassed my expectations. After owning my business for 25 years, Benchmark found the perfect buyer to continue the Legacy. Thanks for all your help through this transaction.”

Regarding the deal, Transaction Director Leo VanderSchuur at Benchmark International stated, “It was a pleasure to represent Paragon in this strategic transaction. On behalf of Benchmark International, we wish both companies continued success.” Senior Associate, Sunny Garten, added, “David and his team were wonderful to work with. They were engaging and always responsive to diligence requests. We’re excited to see that their legacy will be preserved and enhanced through this transaction with AIM.”

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Benchmark International has successfully facilitated the transaction between Logicalis South Africa (Pty) Ltd and Clarotech Holdings (Pty) Ltd & Clarotech Consulting (Pty) Ltd.

Benchmark International is pleased to announce the completion of a transaction between Logicalis South Africa (Pty) Ltd and the Clarotech group of companies including Clarotech Holdings (Pty) Ltd & Clarotech Consulting (Pty) Ltd. The deal was concluded by the transaction team based at the mid-market M&A corporate advisory’s African headquarters in Cape Town, South Africa in August of 2018.

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Top 10 Industries for Private Equity Investment Revealed

A study by Private Equity Info has identified the top 10 industries that private equity firms have been acquiring during 2018. Below is a breakdown of the industries along with why they have been so popular with private equity firms.

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Benchmark International has successfully facilitated the merger between Network Technologies, Inc. and Automated Systems Design.

Benchmark International has successfully facilitated the merger between Network Technologies, Inc. and Automated Systems Design. Network Technologies, Inc. (NTI) is an IT infrastructure design and planning firm, specializing in technology cabling, audio/visual design and control systems, security systems and wireless networks. Automated Systems Design (ASD), is a nationwide provider of design, engineering, installation, and project management for workplace technologies for customers in a variety of industries. 

Jeff Cook, President and majority owner of NTI said “The Benchmark team was very professional, responsive and provided great guidance during our entire transaction process. Having Benchmark on our side, focusing on the details of the transaction process, allowed our management team to continue to focus on the day to day running of our business. I would highly recommend partnering with Benchmark for any small to mid-size business owner that is considering the sale or merger of their firm. We are excited to be part of the ASD team and look forward to providing expanded services and capabilities to our clients through the synergies of the combined companies.” 

We are very pleased to welcome NTI, led by Jeff Cook and Scott Dupuis, to the ASD family. The combined companies of ASD and NTI is a strong strategic fit that will provide our customers a fully integrated design/build organization. NTI's experienced management team and operational staff will be a strong addition to our organization and we look forward to integrating the team over the next few months. We believe the merged companies further our goal to expand our service offerings to both NTI and ASD customers throughout the US. We look forward to building on the success of both organizations and to continue to grow our customer base through the strong reputation of delivering projects on time and budget.said Kevin Kiziah, President and CEO of ASD. 

WE ARE READY WHEN YOU ARE.

Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.

Schedule a call to speak to an Analyst

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Benchmark International Facilitates the Sale of HiWAAY Information Services to 1stPoint Communications

Information Services. Since 1995 HiWAAY has provided hosting and email services, data center colocation, internet access and private network services to subscribers from its facilities in Alabama.

"The acquisition of HiWAAY’s assets builds on the success we have had with the acquisition of WebSite Source,” said Erik Levitt, 1stPoint’s CEO. “Access to retail subscribers is a very important part of our business plan. The HiWAAY name is well known in the local market and will provide us the building blocks that we need to service the marketplace in the southeastern United States, which we see as strategically important.”

1stPoint will continue to operate the HiWAAY facility in Homewood and will add the facility to its MPLS network, adding a number of private networking resources to HiWAAY’s existing products. The new services offered to HiWAAY clients will include 1stPoint’s line of collaboration tools, business texting, and more advanced hosting offerings including its virtual desktop environment. HiWAAY services, including email spam protection, will be added to other 1stPoint product offerings.

“This is a great outcome for the customers, employees, and the owners of HiWAAY,” said Jason Mohprasit, one of HiWAAY’s two owners. Mr. Mohprasit and Mr. Chris Campbell grew HiWAAY from 2010 to 2018, migrating the business from a dial-up and DSL provider into an advanced hosting provider. “We are very excited to see 1stPoint’s team take the business to the next level,” added Mr. Campbell.

Benchmark International represented HiWAAY in the transaction and was responsible for the introduction to 1stPoint.

“We are very pleased with the outcome of this transaction” said Robert West, Senior Associate at Benchmark. “The transaction went smoothly and we hope that we can work with Benchmark on future projects,” added Levitt. Benchmark provides growth and exit strategies to businesses interested in creating transformative events.

“We welcome the HiWAAY team and look forward to working with the clients and expanding our relationship with them,” added Kristen Vasicek, the Director of Marketing for 1stPoint, who was involved in the acquisition. “HiWAAY’s reputation as being an outstanding service provider with a nationwide capability but a local touch will help us continue to establish our New Way to Work strategy.”

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Silexx Client Testimonial {video}

Posted on February 6, 2018 By in Client Testimonials + Technology + reviews

Benchmark International is delighted to announce the sale of Silexx to the Chicago Board of Exchange.

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Technically Speaking - M&A to Remain Strong in the Next 12 Months

Technology-related mergers and acquisitions are set to remain robust over the next 12 months, according to the recent semi-annual leaders’ poll from law firm Morrison & Foerster’s global M&A team.

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Hewlett Packard Sees Acquisitions As Integral to Growth

California-based Hewlett Packard Enterprise has been busy bolstering its portfolio to stay ahead in cloud computing, with even more acquisitions on the horizon.

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Apple Continues Acquisition Trail with Lattice.io

Following news last week that Apple had completed a deal to acquire sleep-tracking device company Beddit, the tech behemoth has completed yet another acquisition in the form of Lattice.io.

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Apple Gets Into Beddit With Latest Acquisition

Last week it was revealed that Apple had completed a low-key deal to acquire Beddit, a Finnish company that makes sleep-tracking devices compatible with apps for both iOS and the Apple Watch.

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Udacity makes first acquisition with purchase of CloudLab

Online education platform Udacity has completed its first ever acquisition with its purchase of CloudLab for an undisclosed figure. With its specialism in tech-related nanodegrees – vocational qualifications that can be achieved faster and cost less than traditional degrees – Udacity plans to use CloudLab’s platform to allow users to code interactively and collaboratively from within their browsers.

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Yahoo! and Verizon update: What’s going on?

When it comes to M&A security breaches can be costly in more ways than one. Yahoo!’s expectations of a smooth transition in the Verizon takeover have been scuppered with the news that the acquiring company was not prepared to offer the full asking price.

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A Whole New World (of streaming): Disney to acquire Netflix?

We’re just over a month into 2017 and already rumours are circulating about a magical mega deal set to take place this year. Despite the lack of evidence to back-up a Disney acquisition of Netflix, there has been much discussion throughout the industry about whether such an acquisition can and will actually happen.

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The Common Source Client Testimonial {video}

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Computer RX Client Testimonial {video}

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EU Regulators ‘Dislike’ Facebook And WhatsApp Merger

In 2014, Facebook acquired WhatsApp in a deal worth $19bn. However, more than two years later, the social media giant has been accused of providing EU regulators with misleading information during its takeover of the mobile messaging service.

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Record 2016 for M&A against all odds

Despite major political disruption from events such as Britain leaving the EU and the election of a new president of the United States, 2016 is gearing up to be the biggest year for M&A deal announcements since 2007.

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Barking Mad for M&A: good businesses are acquired, whatever the sector

Eyebrows were raised earlier this week when one of the U.K.’s largest dog-walking franchise businesses, Barking Mad, was snapped up by AIM-listed Franchise Brands for almost £1 million. While the deal highlights a booming sector in the U.K., it also points to the attractions for acquirers that go beyond particular sectors or industries and gives crucial insight for business owners who are exploring options for partial or full exit from a business, or turning to outsiders for investment.

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