March 1, 2012, Ottawa, Ontario – Nitro IT Business Solutions today announced that it has been acquired by TUC™ Brands, an investment firm focused on the managed IT services and cloud computing industry with headquarters in Ottawa, Ontario.
Although acquired, Nitro IT Business Solutions will remain as its own entity, and will continue to operate as a wholly-owned subsidiary of TUC Brands. However, the acquisition will mean substantial growth for Nitro including a drastic expansion of its professional services team––a tremendous advantage for Nitro’s client base.
The combination of the two companies will provide Nitro IT Business Solutions with a greatly enhanced Help Desk with improved efficiencies and better support capabilities. The acquisition by TUC Brands means the addition of more highly trained support personnel and a multitude of new and better tools to assist customers.
The acquisition will mean additional growth in other areas of the company as well. Aside from the addition of more service personnel, Nitro will also be expanding its Sales Division to accommodate the forecasted growth in its Managed Services Division––a market in which the company has seen exceptional growth.
“The Managed Service Provider (MSP) space has evolved a lot over the past decade. Our senior management team assessed our options and decided we needed to join forces with an organization with national reach and a proven ‘next-generation’ remote managed services operating model to take Nitro to the next level,” stated Larry Poirier, CEO of Nitro. “There’s no question that adding the skills and capabilities of Nitro has the potential to help expand TUC’s service offerings through its franchise network to the small- and mid-sized business market. Nitro’s clients will continue to have the same high level of service they have come to expect.”
Nitro’s acquisition provides TUC Brands with a large customer, revenue and employee base, along with a strong technical bench with key vendor relationships and certifications in areas such as networking, virtualization and security. Nitro’s key vertical markets include professional services, technology, government, non-profit and healthcare. Nitro is a long-standing member of Ingram’s VentureTech Network, a North American organization of independent professional IT firms.
“We are very excited with the acquisition of Nitro and adding their team of experienced professionals,” stated Mark Scott, CEO and founder of TUC Brands. “A year ago we set out to establish a larger footprint in Ottawa as our flagship market, which the acquisition of Nitro allows us to achieve. What’s interesting is how complementary the personnel and skill sets are between the two companies with little overlap.”
The Nitro acquisition was funded by TUC’s capital division, MSPXchange, along with institutional investors. The transaction is subject to customary closing conditions.
About Nitro IT Business Solutions
Nitro provides comprehensive IT business solutions, products and services. Nitro’s customized solutions institute best-practice processes and are architected with best-in-class products from Tier-One manufacturers. Nitro’s principal service offering is the award winning managed services solution, NitroSure, which delivers cost-effective IT Service Management (ITSM) to small- and medium-sized businesses and organizations. With NitroSure, clients have a partner who takes full responsibility for their IT infrastructure; gives them access to highly qualified technicians; guarantees service levels; and provides a host of proactive services that help prevent the catastrophic impact of downtime. For more information visit www.nitro.ca.
About TUC™ Brands
TUC™ Brands develops businesses and ideas in the managed IT services and cloud computing industry. Our Franchise 2.0 opportunity provides entrepreneurs and investors with a complete framework to build, buy and accelerate a managed IT services business. Our MSPXchange program provides managed service providers (MSP) with the ability to monetize their business through either a structured merger or acquisition strategy, leveraging our proven MSP business and technology platform. Learn more about joining our team today at www.tucbrands.com.
For more information contact:
Nitro IT Business Solutions
Larry Poirier
CEO
613-228-8096
larryp@nitro.ca
TUC Brands
Aaron Bradley
Director of Marketing
613-271-7674
abradley@tucbrands.com
