Bowstring advises Winxnet in its strategic investment partnership with The Riverside Company
July 26, 2018 | Atlanta, GA
Bowstring Advisors (“Bowstring”), formerly CHILDS Advisory Partners, served as the exclusive financial advisor to Winxnet, Inc. (“Winxnet”) and K&R Network Solutions, Inc. (“K&R Network Solutions”) who merged to form a coast-to-coast managed IT services company prior to entering into a strategic investment partnership with The Riverside Company (“Riverside”).
The new company will retain the Winxnet name and become a leading national managed service provider (MSP) with deep technical experience, IT automation and an unparalleled strategic growth plan.
Winxnet will remain headquartered in Portland, Maine, employ over 130 people between offices in Portland, Maine, San Diego, California, Lawrence, Massachusetts and Chattanooga, Tennessee and will be led by a blend of the Winxnet and K&R Network Solutions’ leadership teams. Winxnet co-founders, Chris Claudio and Michael Williams, will lead the combined entity as Chief Executive Officer and President, respectively, and will be joined by technology and IT automation pioneer, Jeremy Kurth, as incoming Chief Technology Officer.
“This merger brings together two world class managed service providers with entirely complementary proficiencies around IT management and delivery. Combined with the intellectual property and IT automation software that KRNS has developed, we are poised to transform an industry, including fundamentally improving the overall client experience with IT,” said Chris Claudio. “After a rigorous vetting process, we chose Bowstring due to their experience and proven track record with Managed Service Providers and the IT industry as a whole. The Bowstring team delivered as promised, demonstrating their industry prowess during all stages of the engagement, and we could not have been more pleased with the experience and outcome.”
The broader partnership with Riverside will allow Winxnet to further execute on a national expansion plan through both organic sales growth, and a pursuit of add-on acquisitions to expand offerings and capabilities for clients.
“Winxnet is a best-in-class managed services provider reflected by their leadership team, proprietary software and IT expertise. We’re excited to see the partnership between Riverside and Winxnet drive growth and success into the future.” said Tom Donahue, Bowstring Managing Director.
After a rigorous vetting process, we chose Bowstring due to their experience and proven track record with Managed Service Providers and the IT industry as a whole. The Bowstring team delivered as promised, demonstrating their industry prowess during all stages of the engagement, and we could not have been more pleased with the experience and outcome.