Chapman Associates Acquisition Announcement
Cisco Gold Partner
Chapman Associates has announced the sale of Pangaia Partners, Paramus, NJ, a Cisco Gold partner, to New Era Technology, a leading provider of collaboration solutions and managed services headquartered in New York City and with several offices throughout the world.
Pangaia Partners offers professional and managed IT services with a strong focus in network engineering, collaboration and data center solutions. For over 17 years, Pangaia has served Fortune 500 and midmarket customers in Financial Services, Pharmaceutical, Healthcare and other target markets.
“New Era proved to be a great match for our organization and our customers. We are now able to offer new sets of solutions and have already identified areas that will help accelerate the growth of both companies”, said Gerry McIlraith and Jim Hines, Pangaia’s founders and Managing Partners. “We are very excited about joining their team. Many thanks to Cristian Anastasiu and the Chapman team who advised us throughout the process. Their deep industry knowledge made the difference”.
“We continue to see a very active IT services M&A market, with broad interest both on the sell and the buy side”, commented Cristian Anastasiu, Chapman’s Managing Director who specializes in technology. “We expect the consolidation to continue, driven by a number of factors such as interest from Private Equity Groups, transition to the cloud, lower hardware margins and the growing significance of managed services and recurring revenues”.
Chapman Associates (www.chapman-usa.com) is one of the most respected middle market mergers and acquisitions firms in the country with a focus in Information Technology and other verticals. Buyers and sellers have trusted Chapman Associates® since 1954. During that time, Chapman has successfully sold over 2,300 companies worth billions of dollars.