© Miv Fournier
Versature CEO Paul Emond.
TechSupport was founded in 1993 and provides small and medium-sized businesses with IT services, products and onsite support. It has a satellite office in Chicago.
The transaction will expand TUC’s customer base to include the non-profit, defence and health care industries, according to a company release. It will also allow TechSupport customers to access extended helpdesk hours and capabilities, with expanded services in areas including virtualization, networking and security.
TechSupport’s sister company, Versature Corp., was one of OBJ’s Startups to Watch in 2012, and is a voice-over-Internet protocol provider for small and medium-sized businesses.
In recent years, Versature’s growth has eclipsed that of TechSupport, and CEO of both companies Paul Emond said that he began to look at strategic alternatives to bring value to shareholders and customers.
“Upon assessing our options, it was decided that the best course of action was to step back from managed IT services, allowing an organization with economies of scale, a national reach and a proven ‘next-generation’ remote managed services operating model to help our customers grow into the future,” Mr. Emond stated.
Mr. Emond will take on an advisory role with TUC.
“TechSupport’s philosophy and service delivery model is very similar to ours which has made the acquisition, due diligence and customer transition a seamless process,” stated TUC CEO Mark Scott. “This continues our strategy of growing in key markets by identifying well-known brands with a strong reputation for service excellence.”
Two former TechSupport employees will be added to the TUC helpdesk team at its head office in Ottawa.
TUC is the parent company of national managed services provider TUC Managed IT Solutions.
TUC Brands has around 100 employees with 70 of them in Ottawa. It was launched in February to bring together various companies including managed services franchise The Utility Company and Nitro.
Its previous fundraising department, called MSPXchange, was given a rebrand and expanded with a plan for three funds.
TUC I was used to purchase Ottawa-based Nitro IT Business Solutions in March. TUC II is a $15-million capital fund raised from accredited investors. Part of it was used to purchase Protek, a London-based managed services provider, in August.
The company is looking to acquire several Canadian MSP companies with revenues of between $5 million and $10 million, according to Stephan May, the head of TUC’s capital division. Mr. May added TUC has several specific companies on its radar.