Nitro has been in the midsts of celebrating its 25th year in business and has been a long-time member of Ingram’s VentureTech Network. In 2000, Nitro was one of the earliest IT resellers to adopt the managed services model.
The Nitro deal was funded by TUC’s capital division, MSPXchange, along with institutional investors.
The plan for now is for Nitro to be part of Utility Co. Mark Scott, CEO and founder of the Utility Co. said he was excited with the acquisition of Nitro and getting an experienced team of professionals.
“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 complimentary the personnel and skillsets are between the two companies with little overlap,” Scott said.
The Nitro acquisition also brings TUC a large customer, revenue and employee base, along with additional technical resources with key vendor relationships and certifications in areas such as networking, virtualization and security.
The company’s managed services practice ranges from small businesses to large national organizations like the Canadian Bar Association.
Nitro founder and CEO Larry Poirier said the MSP space has evolved a lot over the past decade. Senior management assessed all 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 us to the next level.
The transaction is subject to customary closing conditions. Nitro will operate as a wholly-owned subsidiary with managed services NOC and help desk services delivered by TUC.