Solganick Advises Complete on Columbia Advisory Group Acquisition

Complete has acquired Columbia Advisory Group

Solganick was the exclusive M&A advisor to Columbia Advisory Group in its sale to Complete

has been acquired by
A portfolio company of
    Columbia Advisory Group

    About Columbia Advisory Group

    About: Columbia Advisory Group (“CAG”) is a managed services provider that provides cybersecurity, governance, risk, compliance and technology services to clients within the higher education, state and local government, and mid market enterprise industry sectors. Based in Dallas, TX, CAG has built a sterling reputation as a trusted advisor in the cybersecurity and compliance space. For years, CAG has provided expert guidance to organizations navigating the complexities of cyber risk, helping them build resilient security programs and achieve regulatory compliance. Their client-centric approach and commitment to delivering actionable insights have made them a go-to partner for businesses seeking to fortify their defenses.

    Situation: The shareholders of CAG hired Solganick to help them evaluate potential M&A opportunities and run a competitive process on their behalf to find the best possible partner.

    Solution: Solganick ran a competitive M&A process that targeted PE backed strategic buyers and received multiple offers for the company.

    Outcome: CAG selected Complete, backed by Heritage Holding, as the best fit from a strategic combination, to the best deal structure outcome that was favorable to the selling shareholders. Terms of the deal were undisclosed.

    This acquisition significantly enhances Complete Network’s capabilities, offering clients a more comprehensive suite of services that integrates robust cybersecurity solutions with their existing managed IT offerings. The acquisition was backed by Heritage Holding, a Boston-based private equity firm known for its investments in growth-oriented technology companies. This union creates a powerhouse in the IT and cybersecurity landscape, poised to address the evolving needs of businesses grappling with increasingly sophisticated cyber threats and complex regulatory environments.

    Key Highlights of the Acquisition:

    • Expanded Service Portfolio:
      • Complete Network’s managed IT services will now be seamlessly integrated with CAG’s deep expertise in cybersecurity consulting, including security assessments, penetration testing, incident response, and compliance (e.g., CMMC, NIST, HIPAA).
      • CAG’s industry focus on higher education and state and local government agencies adds additional layers of industry-specific expertise that Complete Networks clients can benefit from.
      • Clients will benefit from a single point of contact for their IT infrastructure and critical cybersecurity needs, streamlining operations and enhancing overall security posture.
    • Enhanced Expertise and Talent:
      • The acquisition brings together a team of highly skilled professionals, combining Complete Network’s operational excellence with CAG’s specialized cybersecurity and GRC knowledge.
      • This collective expertise will allow for the development and delivery of cutting-edge solutions tailored to diverse industry requirements.
    • Strategic Growth and Market Position:
      • This move significantly strengthens Complete Network’s position as a holistic IT and cybersecurity partner, expanding its market reach and competitive advantage.
      • The combined entity is well-positioned to capitalize on the growing demand for integrated IT and cybersecurity services across various sectors.
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    Complete IT Evolved MSP

    About Complete

    About: Complete is a trusted IT partner for businesses that demand seamless operations, robust security, and solutions tailored to their growth. Combining boutique-level care with enterprise-grade capabilities, the company delivers Managed IT, Cloud, Data, and Compliance services that empower businesses to succeed in a rapidly evolving digital world.  Backed by PE firm, Heritage Holding, Complete has successfully expanded into new regional markets as well as industry sectors where it delivers best in class managed services to its clients.

    This acquisition marks a pivotal moment for both Complete and Columbia Advisory Group. The combined strengths, supported by Heritage Holding, promise to deliver unparalleled value to clients, offering a robust and integrated approach to managing their IT and cybersecurity landscapes. As the digital threat landscape continues to evolve, the newly formed entity stands ready to provide the expertise and solutions necessary for businesses to thrive securely.

     

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    About Heritage Holding

    About: Heritage Holding is a private equity firm dedicated to investing in and growing promising technology companies. With a strong track record of successful partnerships, Heritage Holdings provides capital, strategic support, and operational expertise to help portfolio companies achieve their full potential and drive long-term value.

    • Support from Heritage Holding:
      • Heritage Holding’s investment underscores their confidence in the strategic vision and growth potential of the combined entity.
      • Their backing provides the necessary resources and strategic guidance to accelerate innovation and market expansion.

     

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    Frequently Asked Questions

    1 What role did Solganick play in the acquisition of Columbia Advisory Group?

    Solganick served as the exclusive M&A advisor to Columbia Advisory Group, guiding them through a competitive process to evaluate potential M&A opportunities. They successfully ran a process that targeted PE-backed strategic buyers, resulting in multiple offers for the company.

    2 What kind of companies does Solganick advise in M&A transactions?

    Solganick specializes in advising managed services providers (MSPs) and technology companies, particularly those in cybersecurity, governance, risk, and compliance. This case study highlights their expertise with Columbia Advisory Group, a leading cybersecurity MSP.

    3 How does Solganick approach the M&A process for its clients?

    Solganick runs a competitive M&A process, targeting strategic buyers, including private equity-backed firms, to secure multiple offers. Their goal is to find the best strategic fit and deal structure favorable to the selling shareholders, as demonstrated with Columbia Advisory Group.

    4 Who acquired Columbia Advisory Group and what was the strategic rationale?

    Complete, a portfolio company of Heritage Holding, acquired Columbia Advisory Group. This acquisition significantly enhances Complete Network's capabilities by integrating robust cybersecurity solutions with their existing managed IT offerings, addressing evolving cyber threats and regulatory needs.