Greystone Technology Joins New Charter Technologies
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Greystone Technology Joins New Charter Technologies

By CIOReview | Thursday, December 10, 2020

Greystone will remain to operate independently with Greystone owners, Jesse Armstrong and Peter Melby, remaining in their positions. They both join the New Charter Technologies, ownership group.

FREMONT, CA: New Charter Technologies, a portfolio company of a private equity firm Oval Partners, announced the acquisition of Greystone Technology, a premier IT services provider.

New Charter Technologies CEO Mitch Morgan is excited to join the growing roster of North American MSPs. “The capabilities, market presence, and reputation that Greystone Technology brings to New Charter is a tremendous addition. Peter, Jesse, and the team have made Greystone a leader in the technology community in Denver and throughout our industry. The company has a host of awards, recognition, and industry accolades over a long period of time,” Morgan explained.

Greystone will remain to operate independently with Greystone owners, Jesse Armstrong and Peter Melby, remaining in their positions. They now join the New Charter Technologies, ownership group.Top IT Services Companies

New Charters’ leader, too, shares equal excitement. “Mergers, acquisition, and investments are not always beneficial in such a relationship-oriented industry. We found the exact right situation to continue to build. This is not an exit plan for us; it is an entrance into a bigger opportunity. We are excited to have a stronger foundation for our clients and team members as we continue to grow with greater stability,” says Peter Melby, co-founder, and CEO, Greystone

“We’re focused on building a caliber of business that the IT industry hasn’t yet seen,” says Jesse Armstrong, Co-founder, and President, Greystone. “We have the best team in the industry and now we have the ideal investment partner, and the New Charter peer companies as well. The unique investment model solves the inherent challenge of scaling our organization without losing what makes us Greystone.”

New Charter Technologies provides founders of high performing Managed Services Providers (MSPs) a compelling opportunity to re-invest together with Oval Partners in the business’s continued growth. At present, the platform has added six industry-leading MSPs, with more to come. Characteristics of this unique partnership encompass:

• Owners re-invest into New Charter in a single class of shares combined with Oval’s investment and can take cash off the table.

• Owners continue to operate their respective businesses and become a part of New Charter’s leadership team tasked with building their business to attain a standing as a leading national MSP

• New Charter Technologies’ operating model comprises strategic leadership and an extremely flourishing capital provider with permanent capital.

According to John Knoll, Co-Founder and Managing Director at Oval, “Adding another leading MSP boasting strong management and exceptional customer franchise further validates the value proposition of New Charter for successful MSP founders. We believe this solidifies our position as the platform of choice for best in class MSPs in the North American market.”