Nexus Technologies (www.nexustek.com), a leader in delivering managed IT services, CRM technologies, and ERP/accounting software solutions to small and medium-sized businesses (“SMB”), announced that Lightview Capital, Tenth Street Capital, and Harbert Mezzanine Partners have made an investment in the Company. CoBiz Structured Finance, a division of CoBiz Financial, provided senior credit facilities as part of the transaction.
“Our partnership with this investor group will give us the resources and capital to rapidly expand both the technology solutions we offer and the geographies within which we service our customers,” said Rob Burkholder, NexusTek’s founder. “Our vision has always been to build a world-class company capable of local, regional, and national expansion. Our Investors share our vision and desire for growth. Their expertise in IT and managed services will be invaluable as we take the next step in realizing that vision.”
NexusTek’s core managed services platform offers a highly scalable solution suite focused on outsourcing the design, implementation and ongoing management of network and systems infrastructure as well as ERP/CRM applications. With over 300 current customers and eighteen plus years of operating history, the Company is a recognized leader in the Mountain West Region of the SMB community.
“We are thrilled to have the opportunity to invest and partner with the team at NexusTek who have shown an ability to drive consistent growth and profitability over their history,” said Conor Mullett, Managing Director at Lightview. “We are particularly excited by their focus on solving an acute problem for small and medium businesses – a lack of IT resource capacity and expertise as they build their own businesses. NexusTek’s value proposition is compelling as evidenced by their consistently high annual customer retention.”
“With the SMB IT services spend projected to continue to grow at a mid-teens compound annual growth rate, we see a tremendous market opportunity for NexusTek,” said Andy Tatman, principal at TenthStreet Capital. “We will leverage the efficient operating model that NexusTek has built to cost-effectively service SMBs and look to further expand it. The operating tools, workflow, analytics, and team the Company has developed is a tremendous platform and foundation upon which to build.”
Burkholder, Mullett, and Tatman will join NexusTek’s Board of Directors along with Rich Erickson from Lightview, Bill Nutter of Tenth Street, and Robert Bourquin of Harbert Mezzanine.
NexusTek delivers best-in-class managed IT services, application solutions focused on CRM and ERP, and outsourced business technology consulting to small and medium-sized businesses. By providing a number of value-added products and services to the SMB space, NexusTek enables its customers to focus on their core business without the burden of IT management. NexusTek’s goal is to deliver advanced technology and business management solutions that support its customers’ growth strategies.
For more information on NexusTek, visit www.nexustek.com