Flex Equity acquires managed IT services provider LMS

June 8, 2021
LMS brings strong, flexible onsite service support, purchasing, parts and logistics capabilities for retail support including point of sale (POS), servers, audio/video, security cameras, low-voltage cabling, networking, digital signage, VOIP and mobility.
Pixabay / mohamed_hassan
Call Center Mohamed Hassan

On June 3, Flex Equity, a multi-family office (MFO) and strategic investor in high-growth middle market businesses, announced that it has signed an agreement for the acquisition of Logical Maintenance Solutions (LMS), a partner-focused managed service provider (MSP) that provides on-site maintenance and IT related services throughout the United States and Canada.

The move enhances Flex Equity's portfolio of technical support service capabilities and original equipment manufacturer (OEM) relationships. Terms of the deal were not released.

In addition to the acquisition, Flex Equity will partner with industry veteran Stacey Powell, who will assume the role of Chief Executive Officer (CEO) of LMS, bringing together two women-owned organizations. Flex Equity's Ovation Technical Services unit will now become the specialized services arm of LMS.

Headquartered in Irvine, California, LMS is characterized as "a strong and growing business with a process-driven approach to servicing IT for companies that have an increasingly dispersed and remote workforce." As pointed out by Flex Equity:

During the challenging and changing parameters of the pandemic, LMS was able to quickly adapt and service organizations with large workforces suddenly switching from in-office to remote work. From the desktop and peripherals to the data center, LMS is known for its ability to collaborate closely with customers to meet and exceed their evolving service requirements.
LMS has established strong relationships, averaging ten years of tenure per client, with industry leading OEMs and brands including Dell, Hewlett-Packard and Xerox, to name a few.

LMS brings to Flex Equity an advanced ability to conduct remote solve and monitoring of end user devices, where the market has seen a strong increase in demand due to COVID-19 on-site restrictions. In addition, LMS brings a strong and flexible on-site service support, purchasing, parts and logistics operation for retail support including point of sale (POS), servers, audio / video, security cameras, low-voltage cabling, networking, digital signage, VOIP and mobility.

LMS's process-driven approach prioritizes working in collaboration with partners to provide optimal service delivery to the desktop or data center based on a customer's unique requirements.

"Combining LMS and Ovation marks an exciting new step for the leadership team," said new LMS CEO, Stacey Powell. "Utilizing the LMS variable workforce model to enhance our reach and ability to remain competitive for our clients, will be a huge differentiator in the value we have created for our clients. Working directly with Flex Equity enables us to expand career opportunities for our people, and continue to transform and scale our global managed IT service options to meet the continuously evolving needs of our customers."

The transaction is subject to customary regulatory approvals and conditions precedents and is due to close in the coming weeks. "LMS brings a well-established team, service model and growth training that will help fuel our managed IT services expansion, and kick-off an exciting new chapter for Flex Equity," said Sameer Mittal, Managing Partner, Flex Equity, and Chairman and President, LMS.

Mittal added, "LMS deepens Flex Equity's maintenance and technology service capabilities, to help meet the rapidly changing, increasingly dispersed and complex managed IT service opportunity. There is extremely strong market demand for quality, flexible service providers, and we are delighted to welcome the full LMS team to continue our growth."

"We could not be more excited about the addition of LMS to the Flex Equity family office portfolio of companies," concluded Yogesh Kumar, Managing Partner, Flex Equity. "As the first addition of a managed IT service provider to our portfolio, LMS is well-positioned to be a key piece of the next chapter of our portfolio's growth and evolution. LMS's operational excellence and experience will be invaluable as we look to grow our portfolio in the coming years."

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