Magna5 Continues Expansion of Managed IT Services Business through the Acquisition of Interphase Systems, Inc.

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Sep 07, 2022, 08:02 ET

PITTSBURGH, Sept. 7, 2022 /PRNewswire/ -- Magna5, a national provider of managed IT services and a NewSpring Holdings platform company, today announced its acquisition of Interphase Systems, a Philadelphia-based managed IT services provider servicing businesses in the Philadelphia metropolitan region with a particular expertise in servicing the life sciences and financial services sectors. This is the fifth managed services acquisition for Magna5 and further strengthens the firm's position as a formidable player in the Northeast and Mid-Atlantic regions offering a wide range of managed IT services including network management, cybersecurity, data recovery and cloud services.

"We're thrilled to join the Magna5 team and look forward to leveraging their sales and marketing expertise to expand our customer base in the Philadelphia region," says John Biglin, CEO of Interphase Systems. "Our current customers will also benefit from Magna5's broader set of capabilities and technical resources."

"Our goal is to be a true business partner with our customers, helping them to scale their business operations efficiently and effectively by leveraging our portfolio of managed IT and cloud services," says Bob Farina, CEO of Magna5. "We're very excited to welcome the Interphase Systems team and expand our presence in the greater Philadelphia region."

The demand for real-time cybersecurity protection, data backup/recovery, centralized network monitoring, cloud hosting and 24/7 help desk support combined with Magna5's superior service offerings have the company on pace to record organic growth of over 20% year over year.

About Magna5

Magna5, a NewSpring Holdings platform, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally.

About NewSpring Holdings

NewSpring Holdings, NewSpring's dedicated holding company 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 $2.5 billion across five 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.

SOURCE Magna5