MSP One Source Communications Receives Cash Influx, Acquires SUMO Technologies
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Private credit and equity investment firm Genesis Park has announced an investment in managed services provider One Source Communications for an undisclosed amount. The deal was made through the firm’s investment fund, GP Capital Partners, alongside two other private investment firms.This is technology M&A deal number 1,028 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.Genesis Park, founded in 1999, is based in Houston, Texas. The firm has 18 employees listed on LinkedIn.One Source Communications, founded in 1998, is based in Greenville, North Carolina. The company has 300 employees listed on LinkedIn. One Source’s areas of expertise include multi-location telecommunications management services, mobile/wireless device management services, IT services, helpdesk and more.
One Source’s SUMO Technologies Acquisition
The cash influx will be used to support One Source’s growth initiatives, with the company already announcing the acquisition of SUMO Technologies using a portion of the funds.Founded in 2001 and based in Centerville, Utah, Sumo is an independent telecom agent that offers customer experience, colocation, and connectivity solutions worldwide.
One Source’s Growth Intentions
Tim Meng, CEO, One SourceTim Meng, CEO, One Source, commented:
"One Source is pleased by the recent investment by Genesis Park and its partner firms to support the acquisition of Sumo, and provide a capital commitment to support future growth initiatives. We are excited to have Genesis Park as a partner given their experience and long history of investing in and operating managed services, wired and wireless telecom and cyber security companies. We believe this investment positions the Company to capitalize on future opportunities and accelerate our growth."
Curtis Hartman, managing partner, Genesis Park, said:
"We are thrilled to partner with the One Source team. Tim and his colleagues have built a tremendous platform, and we look forward to supporting them through this next phase of growth."
