MINNEAPOLIS, MINNESOTA - January 8, 2025 - NETRIO, an IT managed services and solution provider, and SUCCESS Computer Consulting, a portfolio company of L Squared Capital Partners, announced they are joining forces to create one of the largest full-service IT managed service providers (MSPs) in North America focused on serving small to mid-market businesses.
The new, unified organization brings together two industry leaders with more than 50 years of combined experience in managed infrastructure, cybersecurity, connectivity and cloud services. The company will leverage the strengths of both organizations to deliver enhanced technology solutions that drive innovation, efficiency, and growth for their clients, while also reducing costs and cybersecurity risks.
“We were impressed with the thorough and efficient process that Q Advisors led during Netrio’s recent acquisition by L Squared Capital Partners. Their expert guidance and preparation were instrumental to this successful transaction for both Netrio and our shareholders, enabling us to capitalize on the right opportunity. The hands-on approach from the Q Advisors’ senior team fostered a supportive partnership that we look forward to continuing.” - Shane Hanes, Owner & CEO, NETRIO
"Bringing together these two highly respected companies is an important next step in our mission to transform how small to mid-market organizations leverage technology to thrive in today's digital marketplace," said Mike Cromwell, Chief Revenue Officer at NETRIO. "By unifying our complementary technology expertise and capabilities, as well as our shared commitment to delivering a great customer experience, we're creating an even stronger partner for our customers as they look to modernize and compete effectively."
Serving a customer base that spans North America, the combined MSP will maintain a strong focus on providing expertise and resources to support clients' digital transformation initiatives. Specific technology offerings will include:
"In today's technology landscape, businesses face a wide range of platform choices across cloud, security, and productivity solutions," said Brandon Nohr, Chief Technology Officer at SUCCESS, a Minneapolis-based managed services and security firm. "By joining forces with NETRIO, we're creating an organization with the depth of expertise to help customers navigate these complex decisions and implement the right platforms to meet their specific needs. Our combined knowledge, experience and talent will enable us to serve as a trusted advisor to our clients, helping them make strategic technology investments that drive real business value."
Q Advisors served as exclusive sell-side advisor to NETRIO on this transaction.
About NETRIO
NETRIO is one of North America's fastest-growing full-service MSPs exclusively serving the IT demands of small to mid-market organizations. Since 2003, NETRIO has simplified technology management complexities, helping organizations drive innovation, efficiency and growth through managed IT services, cybersecurity solutions and cloud services. The company delivers enterprise-grade IT solutions across highly regulated industries, including financial services, healthcare and retail. Combining more than 20 years of experience with innovative technologies, NETRIO enables clients to maximize technology investments while reducing costs.
For more information, visit netrio.com.
About SUCCESS Computer Consulting
SUCCESS Computer Consulting is a leader in managed IT and security services for small and medium-sized businesses in Minneapolis, St. Paul and the surrounding Twin Cities Metro area. The company has more than 30 years of experience and focuses on three main service areas: managed IT, cybersecurity and Microsoft 365. Its mission is to help clients understand how technology can work for them. For more information, visit successcomputerconsulting.com.
About L Squared Capital Partners
L Squared Capital Partners is private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Tech-Enabled Services & Software, Education Technology, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the Firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over 15 years and have over 125 years of combined experience investing in growing private companies. For additional information, please visit www.LSquaredCap.com.
About Q Advisors
Q Advisors was formed in 2001 as a leading global investment bank serving public and private companies, PE firms, entrepreneurs and large multi-nationals in the telecom, media, and technology (TMT) sectors. Our team of professionals, located in Denver and Munich, possesses an extensive global reach, while also providing the personalized service of a boutique advisory firm. We are uniquely suited as a long-term partner in navigating a path to dynamic financial and strategic growth as we work to bring our clients best-in-class, independent advice by combining a level of commitment, operational understanding, and industry knowledge that is unmatched in the investment banking industry.