Arkansas IT company Edafio has partnered with Boston-based private equity firm M/C Partners on a strategic investment that will provide Edafio with opportunities for growth, such as enhanced service capabilities and regional expansion.
Edafio Technology Partners, founded in 1999 as an outgrowth of the previous JPMS-Cox accounting firm, provides IT services including managed services, public and private cloud solutions and cybersecurity services to mid-market and SMB customers. The IT services company primarily operates across Arkansas with offices in Little Rock, Conway and Rogers, with expanding customer presence in Tennessee and Oklahoma.
“We are extremely excited to welcome M/C Partners as an investor in our business,” Edafio President and CEO, Kenny Kinley stated. “These are successful business partners who were able to grow both an accounting firm as well as a technology company,” he added. “Edafio has enjoyed 22 years of success with a great group of owners, and we look forward to the next chapter of growth in partnership with M/C.”
M/C Partners is a private equity firm focused on small and mid-size businesses in the digital infrastructure and technology services sectors. For more than 30 years, M/C Partners has invested $2.4 billion of capital in over 140 companies and is currently investing its eighth fund, partnering with promising companies in an effort to support operations and maximize value.
“The MSP market opportunity remains a key focus area for M/C, and this investment in Edafio is consistent with our strategy of partnering with strong businesses and teams that have a relentless focus on customer success,” said Gillis Cashman, Managing Partner at M/C Partners.
Citizens M&A Advisory acted as financial advisor and Mitchell, Williams, Selig, Gates & Woodyard, PLLC served as legal counsel to Edafio. Choate, Hall & Stewart LLP served as legal counsel for M/C Partners.
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