Private Equity Firm Acquires Austin-based CMIT Solutions

AUSTIN, Texas – CMIT Solutions, the nation’s leading managed service provider (MSP) of enterprise-level information technology (IT) services to the small and mid-market business community, announced today the sale of the company to Dallas-based private equity firm Craftsman Capital. The strategic move positions CMIT Solutions for: 1) long-term franchise growth; 2) enhanced operations support at the franchisor and franchisee levels; and 3) new capacity to extend its category leadership with an elevated infrastructure.

CMIT Solutions CEO, Jeff Connally, and all headquarters employees will remain in place at the company’s office in Austin, Texas. Craftsman Capital and its leadership team will be working closely with the CMIT Solutions team to evaluate opportunities to leverage the private equity firm’s know-how, expertise and strategic relationships. Craftsman Capital’s familiarity in IT companies is strong, having previously made strategic investments in three technology companies.

The announcement comes following one of CMIT Solutions’ most successful growth phases, opening 42 new franchise offices/territories across North America in 2018 and adding 26 new franchisees to the CMIT Solutions franchise system. Currently, there are more than 220 CMIT Solutions offices in 33 states across North America. Entrepreneur Magazine ranked CMIT Solutions the #1 IT Service Franchises for the past six consecutive years.

“Craftsman Capital enters the picture at a time when we have significantly expanded the franchisee footprint over the last several years. We expect the growth to continue as a testament to our best-in-class processes and procedures that provide an optimal end user experience,” said Jeff Connally, president and CEO of CMIT Solutions. “Craftsman Capital enables the company to scale up in so many ways – franchise growth, technology partners, service deliverables, human capital, marketing and operations. Throughout the process of working with the Craftsman Capital team, it became clear beyond a doubt that this is the right fit for us as we move into our next phase of growth.”

Craftsman Capital aligns well with CMIT Solutions’ core values, which focus on providing best-in-class technology solutions to the small and mid-market business community nationwide, and providing a platform for driven entrepreneurs to realize their dreams as franchisees. Through a collaborative culture, CMIT Solutions and its franchisees help businesses and their leadership avoid and overcome technology challenges. This allows them to focus on running and growing their companies. The alignment with Craftsman Capital ensures that CMIT Solutions will continue to provide exceptional services and will maintain the collaborative culture that it has taken pride in since its inception.

“Early in our process we identified that CMIT Solutions has carved out its place as a market leader because of the strength of the business model, its technology alliance partners and the exceptional talent that exists at the home office and within the franchise system,” said Will Walters, co-founder and partner at Craftsman Capital. “We look for companies with a strong potential for growth. CMIT Solutions checked all of the boxes and we are very excited to work with CEO Jeff Connally and the company’s stakeholders to increase the resources needed to extend its leading position in each of the franchisee markets.”

CMIT Solutions is widely recognized as the frontrunner among IT support providers for the small and mid-market business community in the United States. Offering a broad spectrum of proactive computer maintenance, monitoring, and virtual technology packages, along with quick response services when unexpected crises occur, CMIT Solutions has carved out its niche as an industry innovator specializing in working with the small and mid-market business community.

About CMIT Solutions

CMIT Solutions (CMIT) is a leading provider of information technology (IT) professional services and products to small and mid-market businesses, and is uniquely capable of supporting businesses anywhere, coast to coast in the United States and Canada. By focusing on developing and maintaining local, trust-based relationships with its customers, CMIT is able to meet all of their IT needs. CMIT offers a wide variety of services and products, including enterprise-class solutions, at prices small businesses can afford. CMIT has been ranked number one in its category in Entrepreneur Magazine’s Franchise 500® list for six consecutive years. Because of its growing geographic presence and partner programs, CMIT is a channel for larger firms desiring to reach the small and mid-market businesses in the United States.

About Craftsman Capital

Craftsman Capital Partners, LLC is an operationally-focused private equity firm investing in lower middle-market companies that exhibit strong potential for growth. The firm employs dedicated, long-term capital and is seeking control investments in operating companies based in Texas and surrounding states.

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