TechServe’s New M&A Service Facilitates the Acquisition of Two Companies
TechServe Alliance M&A Marketplace, a new service of TechServe Alliance Services Corp., which connects interested buyers with qualified sellers of IT & engineering staffing and solutions firms, recently facilitated the sale of two companies.
M&A Marketplace facilitated New York-based Mitchell Martin Inc.’s acquisition of TransTech IT Staffing, operating from two Illinois offices in Chicago and Itasca, and a mid-Atlantic firm’s acquisition of a Malvern PA-based IT staffing company.
TechServe Alliance Services Corp., a wholly owned subsidiary of the IT and engineering staffing industry’s national trade association TechServe Alliance, launched the service offering last spring. The service is available to both members of the association as well as non-members and provides an opportunity for owners of small to medium-sized IT and engineering staffing and solutions firms with a better way to exit. For prospective buyers, this service provides a much-needed avenue for firms who either want to grow an existing IT and engineering staffing operation or expand into technology staffing.
“Modest-sized IT and engineering staffing firms are often not on the radar of investment bankers and M&A brokers,” said Mark Roberts, CEO of TechServe Alliance. “As a result, prospective buyers don’t have access to many companies that want to sell. The TechServe M&A Marketplace prepares sellers for their exit through low-cost services such as a professional valuation analysis. In addition to expanding the pool of firms ready-to-go-to-market, the process helps sellers better understand their strengths and weaknesses and its impact on valuation. A knowledgeable and prepared seller increases the likelihood a transaction will close.”
The TechServe M&A Marketplace currently has two active companies in the market and more than a dozen in its pipeline with many of those coming to market soon. The robust response to the service clearly validates the needs of this underserved group of buyers and sellers.
“We were looking to accelerate our growth and expand our geographical footprint to Chicago. We wanted an experienced team with like-minded business values,” said Gene Holtzman, CEO of Mitchell Martin Inc. “TechServe Alliance M&A Marketplace helped us quickly identify a company that was an ideal business and cultural fit, and John Larson and Mark were instrumental in facilitating the closing of the transaction. We are very excited about the addition of the TransTech team to accelerate our growth and better serve our clients and consultants.”
To learn more about M&A Marketplace and how its innovative model provides unique value proposition for owners looking to exit and can help buyers fast track growth through acquisitions, please indicate your interest here to schedule a call or reach out to John Larson at larson@techservealliance.org.