Domain Computer Services, a Cranbury-based managed IT services provider, announced on Thursday it has merged with Maryland-based Tier One Technology Partners, another managed IT services company, to form a premium national MSP platform.
The company also announced a recapitalization in partnership with Frontenac, a Chicago-based private equity firm. Financial terms were not disclosed.
The combined firm will be led by Rashaad Bajwa as CEO, Jim Kehres as managing director of the Maryland and D.C. market, and Kris Laskarzewski as managing director of the New Jersey, New York and Pennsylvania market.
“When we set the intention of building a national MSP platform, I knew that Dave and Jim at Tier One were one of the first conversations I was going to have. We’ve worked together closely for years as peers in ITNation Evolve; joining forces with them and Frontenac as our partner fulfills our vision of building a premium MSP platform focused on people, process and reputation,” Bajwa said.
At the close, Mike Jenner will join the board of directors. Jenner, who has more than 25 years of experience in growing technology services companies, is the current CEO of ControlCase. He will be joined on the board by Corey Sisler, former chief financial officer of NexusTek and CFO of Spectraseis.
“After knowing Rashaad for years through our professional peer group, I knew and respected Domain as a leading MSP. When Rashaad approached me about bringing Domain and Tier One together, I quickly realized this could be a dream team,” Dave Shaffer, CEO of Tier One, said. “Together with Frontenac, they care about the things that matter most – our people, our clients and our reputation. This team makes a very attractive partner for best-in-class MSPs.”
Honigman LLP served as legal counsel to Frontenac. Szaferman, Lakind, Blumstein & Blader PC served as legal counsel to Domain and Tier One.
“Domain and Tier One fit perfectly with Frontenac’s franchise of investing in and growing best-in-class, tech-enabled services companies alongside extraordinary leadership teams,” Michael Langdon, managing director at Frontenac. “We look forward to aggressively building out a national MSP.”