Magna5 Bolsters Managed Services Business Through Acquisition of SpinnerTech

Firm focused on transforming the mid-market managed IT services industry adds rapidly growing regional player

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May 03, 2021, 09:00 ET

FRISCO, Texas, May 3, 2021 /PRNewswire/ -- Magna5, a national provider of managed IT services and a NewSpring Holdings platform company, today announced its acquisition of SpinnerTech, a Long Island/New York-based managed IT services and cloud hosting company serving customers across a wide range of verticals.

"Since founding SpinnerTech in 2008, Adam Spinner has done a tremendous job building an organization with a strong reputation for customer service and delivering innovative and effective IT solutions to companies in the New York metropolitan area," said Robert Farina, CEO of Magna5. "We are thrilled that Adam and his organization will be joining our team. Adam will take on a pivotal role for us as the Executive Director of the New York Metro region as we look to expand our presence in this highly attractive market."

Organizations today are looking for a trusted partner who can provide a broad spectrum of fully managed IT solutions and services that help them better operate and secure their business, help them effectively scale their operations, and most importantly, serve their customers. Many firms simply do not have the technical expertise in-house, nor the IT staff or budgets needed to invest large sums into the continual research and costly next-generation hardware and software to stay current. Magna5 uniquely fills this gap, offering a blend of enterprise managed IT services, ranging from real-time cybersecurity protection and data backup/recovery to centralized network monitoring, cloud hosting and 24/7 help desk support.

"We are excited and proud to join forces with Magna5 to bring their innovative and industry-leading solutions to the New York Metro area. The two companies share a philosophy of empowering businesses through the delivery of state-of-the-art technology solutions and world class support. We look forward to continuing our growth under their stewardship," said Adam Spinner, founder and CEO of SpinnerTech.

"The combined strength of Magna5 and SpinnerTech will provide customers in the northeast region access to a broader portfolio of IT services," said Farina. "Together, we will enable our customers to work better and smarter and scale more efficiently."

ABOUT MAGNA5
Magna5, a portfolio company of NewSpring Holdings, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced services to mid-market and enterprise customers nationwide, including leaders within the education, healthcare, government, financial services, manufacturing and other industry segments. Headquartered in Frisco, TX, Magna5 operates nationally.

For more information, visit www.magna5global.com.

About NewSpring Holdings:
NewSpring Holdings, the dedicated, diversified holding company within NewSpring with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

Ryan Burns | Magna5 | 469-409-0555 | [email protected]

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SOURCE Magna5