Magna5, a national provider of managed IT services and a NewSpring Holdings platform company, has acquired StableNet, a North Carolina-based managed IT service provider with clients in the manufacturing, legal and financial sectors. This is the fourth managed services acquisition for Magna5 and comes on the heels of Magna5's record 2021 and Q1 2022 organic revenue growth of over 20 percent year-over-year.
"We are thrilled to join a company that invests significantly in its state-of-the-art network security and a private cloud infrastructure," said Marc Hill, CEO of Stablenet. "Our customers will benefit immensely from Magna5's depth of expertise as well as its robust managed IT services offerings."
"Our clients are small to mid-size enterprises that look to Magna5 to handle their most mission-critical IT performance needs, enhance the experience of their end-users and allow them to focus their resources on activities that are strategic to their organization's business plan. Our strategy is to acquire high-quality local managed IT services providers such as Stablenet, while simultaneously investing in our team and technology as we grow to be able to provide a broad portfolio of innovative, market-leading managed IT and cybersecurity services," said Bob Farina, CEO of Magna5. "We're excited to welcome the Stablenet team to the Magna5 family and to provide their customers with added capabilities and resources. In addition, we are thrilled to expand into the growing Charlotte market as we continue to extend our footprint."
