The Purple Guys, Magna5 Buy MSPs to Strengthen U.S. Reach

The Purple Guys, a provider of managed IT services to SMBs, is buying Accelerate, an Indianapolis-based MSP. The acquisition, backed by Kian Capital, expands The Purple Guys’ presence in the central U.S. It provides additional resources and support to offer clients access to an even broader portfolio of IT solutions.

Accelerate provides a full suite of IT managed services to businesses in the Indianapolis area. It has specialized in customized IT solutions, cloud services and cybersecurity since 1995.

The Purple Guys’ Kevin Cook

Kevin Cook is CEO of The Purple Guys.

“We are thrilled that the talented Accelerate team will be joining The Purple Guys,” said Cook. “We look to expand our presence in this attractive and growing market,” he said.

“Our top priorities are twofold,” he added. “To be a meaningful partner to our clients by serving all of their IT needs with a focus on enhanced security solutions, and to continue our strategic growth plan to add scale and innovation for our clients and opportunities for our talented people,” Cook said. “Accelerate is another step forward as we expand our footprint and remain committed to our acquisition strategy across the central and southern U.S.”

Tony Schafer is founder and president of Accelerate. He said the acquisition brings The Purple Guys’ unique brand and solutions to central Indiana.

Accelerate’s Tony Schafer

“The two companies share a philosophy of empowering our clients by delivering mission-critical IT services, tailored strategies and world-class support. We look forward to building on our historical success as a part of The Purple Guys.”

This is The Purple Guys’ fifth acquisition since forming a partnership with Kian Capital and ParkSouth Ventures more than two years ago.

Magna5 Acquires Stablenet

Elsewhere, Magna5, the national provider of managed IT services, is buying Stablenet, a North Carolina-based MSP. Stablenet has clients in the manufacturing, legal and financial sectors. This is the fourth managed services acquisition for Magna5. It comes on the heels of the company’s record 2021. Magna5 also saw year-over-year revenue growth of more than 20% in 2022’s first quarter.

Stablenet’s Marc Hill

Marc Hill is CEO of Stablenet.

“We are thrilled to join a company that invests significantly in its state-of-the-art network security and a private cloud infrastructure,” Hill said. “Our customers will benefit immensely from Magna5’s depth of expertise as well as its robust managed IT services offerings.”

Bob Farina is CEO of Magna5. He said the company’s clients are SMBs that look to Magna5 to handle their most mission-critical IT performance needs. The company enhances the experience of its end-users and allows them to focus their resources on activities that are strategic.

“Our strategy is to acquire high-quality local managed IT services providers such as Stablenet, while simultaneously investing in our team and technology as we grow to be able to provide a broad portfolio of innovative, market-leading managed IT and cybersecurity services,” Farina said. “We’re excited to welcome the Stablenet team to the Magna5 family and to provide their customers with added capabilities and resources. In addition, we are thrilled to expand into the growing Charlotte market as we continue to extend our footprint.”

Magna5’s Bob Farina

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 offering have the company on pace to continue record growth, the company said.