INDIANAPOLIS–(BUSINESS WIRE)–HKW, a middle-market private equity firm focused on growth companies, has acquired CMIT Solutions LLC (“CMIT”), a leading IT Managed Service Provider (MSP) franchisor, and HTW, Inc. (“HTW”), CMIT’s largest franchisee.
“We recognize the tremendous opportunity in front of CMIT and HTW. We’re excited to be part of helping the combined organization build scale to meet the growing demand for technology and security services in the coming years.”
As a rapidly growing IT and cybersecurity organization, CMIT is strongly aligned with HKW’s investment focus. CMIT systemwide surpassed $100 million in revenue in 2022, more than a year ahead of its projected timeline, through a focus on enhanced marketing, sales, and operational efficiencies.
The simultaneous acquisition of HTW will serve as the foundation for a CMIT corporate affiliate that leverages one of CMIT’s top-performing franchisees to serve multi-location accounts and large enterprise customers. A combined CMIT and HTW team of IT and security professionals will provide clients with solutions for larger and more complex projects. Additionally, these resources shared among franchise locations will enable CMIT’s franchisees to better support clients who need specialized expertise. Jason Arabian, Founder of HTW, will join CMIT as Chief Strategy Officer.
“HKW shares our goal of accelerating our company’s growth while creating more value for our clients,” said Roger Lewis, CEO of CMIT. “Their expertise and support will be instrumental as we achieve the next phase of our maturity through new initiatives in marketing, sales, and operations, including adding centralized fulfillment capabilities.”
“The MSP and cybersecurity industry continues to expand as businesses seek solutions to address increasing cyber threats and IT complexity,” Daniel Kim, Partner at HKW, says. “We recognize the tremendous opportunity in front of CMIT and HTW. We’re excited to be part of helping the combined organization build scale to meet the growing demand for technology and security services in the coming years.”
The financial terms of the transaction were not disclosed.
