Waltham, Massachusetts – October 20, 2015 – NWN Corporation announces that private equity company, New State Capital Partners, has invested in NWN. New State and NWN’s management team will jointly drive NWN’s growth plan to build on the company’s track record of success in a broad range of IT solutions including cloud and managed services. CEO Mont Phelps, President Skip Tappen, CFO Kevin Bullock and the senior management team will remain in place and will continue to own a substantial stake in the company.
NWN CEO Mont Phelps said, “After years of investment in cloud computing, NWN is experiencing exciting growth in that area, and we look forward to working with the New State team as we position the company for its next phase. Our high tech solution-driven model has proven very effective, as companies, educators and the government welcome our knowledge, availability, and broad service offering. We look forward to helping our clients take advantage of technology as it evolves, especially by bringing the best the cloud has to offer to their enterprises.”
NWN Corporation will continue to provide its customers with the best technology solutions through its sales force and services teams. NWN President and COO, Skip Tappen, says, “NWN has always been customer centric; it’s core to our brand.”
Phelps also said, “Our 550 employees, are now a part of a more substantial and well financed company with a future that’s brighter than ever. We are going to continue to grow, and so will their careers. Business is a team sport. When the team wins everybody wins.”
The deal marks a new chapter in the history of NWN, which was founded 15 years ago as a pure technology services company. Since then, NWN has teamed with major strategic partners including Cisco, Hewlett Packard, EMC, VMware, Intel, Microsoft and NetApp to become one of the most respected solution providers in the country. Phelps said the cloud focus will not dilute NWN’s commitment to its major strategic technology vendor partners. “We have built a great relationship and business with these partners,” he said. “We see it continuing in the cloud era.”
About NWN Corporation:
NWN Corporation, a nationwide firm, made its name by helping clients solve their business problems through technology. With more than 550 employees in 12 offices in the US, NWN provides clients with a complete range of information systems services and solutions. These include unified communications services, data center, networking, security, end user computing, applications and data services, professional services, IT staffing services, and managed services.
Learn more at www.nwnit.com
About New State Capital Partners, LLC:
New State Capital Partners, LLC is an entrepreneurial-minded private equity firm that is more nimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible about the structure of its investment and focuses on growth and add-on investment. New State invests in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, healthcare services and industrials, and has in excess of $250 million in assets under management.
For more information visit www.newstatecp.com
For New State Capital Partners
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Company Name: NWN Corporation
Contact Person: Steve Fitzhenry – Media Relations
Country: United States