New Charter Technologies and Oval Partners Acquire Four Founding Companies

By Enterprise Security Magazine | Thursday, September 10, 2020

New Charter Technologies and Oval Partners have acquired four founding companies and their choice of bringing this model to the technology industry.

FREMONT, CA: Recently, New Charter Technologies and Oval Partners have declared their acquisition of four founding companies and their choice of bringing this model to the technology industry. The new structure permits the participating organizations to fully participate in investment returns, which were earlier available only to PE firms.

"Our partner companies will enjoy the best of both worlds by continuing to run their business, and partner with other high performance MSPs. Business owners take cash for their shares and are able to reinvest in New Charter side-by-side with Oval Partners," said Mitch Morgan, New Charter Technologies CEO. 

Mitch collaborated with Oval Partners, a Palo Alto-based investment firm established by John Knoll and Jake Mizrahi. They understand the value of such differentiated tactic in which MSPs are highly aligned but not highly integrated.

According to John Knoll, "The MSP market fits perfectly with Oval's unique approach of investing our permanent capital in true partnership with founders of well performing businesses. High caliber MSP owners interested in this model stand to benefit strategically and financially from this partnership as we endeavor to build unprecedented scale in the MSP market." 

The latest Charter Technologies provides the following highlights:

• New Charter's operating model offers tactical leadership and development support, helping the entrepreneurs to enhance their businesses with the help of best practice and resource sharing among operating companies

• New Charter also added four industry-leading, Best-in-Class MSPs to the platform, with more to come

• The exceptional, unprecedented ownership structure permits MSP owners to take cash off the table and reinvest into New Charter in a single class of shares along with Oval Partners

• Besides continuing their business, owners can also become a part of New Charter's leadership team so that they can guide the broader business as it becomes a leading national MSP

According to Morgan, "We are so fortunate to have attracted four extraordinary companies, with proven leadership, and a legacy of high performance. The owners of these companies have reinvested in the business and are deepening their commitment to their employees and clients."

Weekly Brief