New Charter Technologies Expands Its Reach with Dynamic Edge Acquisition
In a significant move that underscores its growth strategy, New Charter Technologies has acquired Ann Arbor, Michigan-based managed service provider (MSP) Dynamic Edge for an undisclosed amount. This acquisition marks a pivotal moment for New Charter, which has been on a rapid expansion trajectory, and it coincides with the company’s recent recognition as one of America’s fastest-growing private companies, as listed in the Inc. 5000.
A Strategic Acquisition
New Charter Technologies has characterized the acquisition of Dynamic Edge as a strategic maneuver aimed at enhancing its geographic reach and diversifying its service offerings. Founded in 1999, Dynamic Edge has established itself as a reliable provider of IT solutions across various sectors, including finance, healthcare, manufacturing, and non-profit organizations. The company offers a comprehensive suite of services, including 24/7 managed and co-managed IT support, cybersecurity services, custom application development, and regulatory compliance. With a dedicated team of 43 employees, Dynamic Edge is well-positioned to contribute to New Charter’s growing portfolio.
New Charter’s Growth Strategy
Backed by private equity firm Oval Partners, New Charter Technologies has emerged as a formidable player in the MSP landscape. The company has adopted an aggressive acquisition strategy, having acquired at least 25 MSPs to date. Recent acquisitions include BNMC, CTSI, and Adnet Technologies, all of which have been integrated into New Charter’s expanding organization. This strategy not only bolsters New Charter’s service capabilities but also allows it to maintain the unique identities and cultures of the acquired companies.
Peter Melby, CEO of New Charter Technologies, articulated the company’s vision, stating, “New Charter is an IT services platform that we built with the idea that many MSPs have built really great companies, but very few have reached a significant scale without some type of merger and acquisition strategy.” This approach aims to empower MSPs to grow while preserving their individual brands and fostering strong client relationships.
Dynamic Edge: A Valuable Addition
The integration of Dynamic Edge into New Charter’s portfolio is seen as a significant opportunity for both companies. Mike Robins, COO of Dynamic Edge, expressed enthusiasm about the partnership, stating, “We’re excited about the new possibilities this partnership opens up, including sharing resources and enhancing our operations to better serve our clients.” The collaboration will provide Dynamic Edge with access to centralized services, group buying power, and improved recruiting capabilities, all while maintaining a strong focus on client experience.
New Leadership and Future Prospects
The acquisition of Dynamic Edge is just one of several developments for New Charter Technologies in 2024. Earlier this year, the company announced a leadership change, with founder Mitch Morgan stepping down as CEO to take on the role of executive chairman. Peter Melby, who previously served as CEO of Greystone Technology, a New Charter subsidiary, was appointed as the new CEO. This leadership transition is expected to drive New Charter’s growth strategy further as it continues to expand its footprint in the MSP market.
In addition to the Dynamic Edge acquisition, New Charter has made headlines this year with the acquisition of Computer Transition Services Inc. (CTSI) in January and BNMC in May. These strategic moves highlight New Charter’s commitment to building a robust network of MSPs that can deliver exceptional IT services across various industries.
Conclusion
The acquisition of Dynamic Edge by New Charter Technologies is a testament to the company’s ambitious growth strategy and its commitment to enhancing service offerings for clients. As New Charter continues to expand its portfolio through strategic acquisitions, it is well-positioned to become a leading platform MSP in the industry. With a focus on maintaining the unique identities of its acquired companies and fostering strong client relationships, New Charter is poised for continued success in the ever-evolving IT landscape.