New Charter CEO On Latest Acquisition: ‘Our M&A Pipeline Is Bigger Than Ever’

‘It’s not about acquiring as many companies as we can. It’s about finding organizations that align with our mission to deliver innovative, specialized IT services,’ says Peter Melby, CEO of New Charter Technologies.

New Charter Technologies CEO Peter Melby said the solutions provider’s M&A pipeline is “bigger than ever” after acquiring its first company of the new year.

Last week Denver, Colo.-based New Charter, a portfolio company of Palo Alto, Calif.-based private equity firm Oval Partners, announced the acquisition of Minnesota-based, co-managed MSP Verus. About 30 employees came over in the acquisition. Terms of the deal were not disclosed.

“Verus is unique in the MSP space, having built a mature and highly specialized approach to co-managed IT,” Melby (pictured) told CRN. “Their expertise in integrating seamlessly with existing IT departments and delivering value-added services aligns perfectly with our vision for the future of IT management.”

Verus has built a strong reputation in co-managed IT services along with delivering infrastructure support, cloud strategies and security solutions. The MSP is also one of the largest partners of security tech developer WatchGuard. Verus President Kevin Willette and COO Kyle Vinar will continue to lead the company.

[Related: New Charter Technologies CEO: ‘We Are Investing In Modernizing Our Core Services’]

“Joining the New Charter family allows us to scale our offerings through a national network, aligning with our growth ambitions,” Willette told CRN in an email. "By focusing on IT for IT and co-management, we can deliver advanced platform services to clients who are outgrowing traditional MSP solutions. This partnership positions us as a true growth partner, enabling us to support our clients' expansion effectively.”

New Charter, named to CRN’s 2024 Elite 150 list, has made 28 acquisitions, and Verus is the “perfect fit for our network,” Melby said, especially when there’s a growing need for co-managed services.

“Day-to-day management has become easier with cloud technology, but the growing complexity of IT means that even large departments can’t cover all bases effectively,” he said. “This creates an opportunity for MSPs to step in with specialized expertise, and Verus excels in this area.”

This acquisition also underscores New Charter’s broader strategy of evolving from a collection of companies into a cohesive, industry-leading IT organization.

“Last year was a year of strategic transition for us, and Verus represents the kind of integral partnership we’re building toward–a company that brings both depth and vision,” he said.

And with a new year, New Charter’s M&A pipeline remains robust, Melby said, with a focus on strategic fits rather than volume. Among the areas of growth New Charter is targeting are enterprise resource planning (ERP), document management, advanced security and AI-driven automation.

“It’s not about acquiring as many companies as we can,” he said. “It’s about finding organizations that align with our mission to deliver innovative, specialized IT services. We’re focused on unlocking new frontiers for our clients to ensure they’re equipped with cutting-edge tools to thrive in an evolving tech landscape.”

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