Peapack-Gladstone Financial Corporation has announced that its investment banking subsidiary, Peapack Private Investment Banking, served as advisor in the sale of ACA Computers, LLC to Network Coverage. The transaction represents another successful engagement in the business services sector for the investment banking team, though financial terms were not disclosed. This acquisition demonstrates the ongoing consolidation trend in the managed IT services industry and highlights the strategic value of established technology providers with strong client relationships and comprehensive service offerings.
ACA Computers has established itself as a trusted managed IT services provider for mid-sized businesses over its 21-year history. The company specializes in system design and deployment, help desk support, remote IT services, data backup, and cloud computing solutions. Their comprehensive commercial IT offerings include 24/7 monitoring, cybersecurity protection, strategic IT planning, and scalable flat-rate services designed for diverse industry requirements. This acquisition by Network Coverage, a full-service Managed Service Provider backed by Tenex Capital Management, positions ACA for expanded capabilities and enhanced service delivery across a broader geographic footprint.
The strategic partnership enables ACA to leverage Network Coverage's resources while maintaining its commitment to quality service delivery that clients have come to expect over more than two decades. JP Pladek, ACA's Founder and President, expressed enthusiasm about the partnership, noting that Network Coverage's leadership team shares ACA's dedication to innovation and white-glove service standards. Pladek also acknowledged Peapack Private's instrumental role in facilitating a seamless transaction, citing their industry insight and guidance throughout the process. This transaction underscores the importance of specialized investment banking expertise in navigating complex mergers and acquisitions within the technology services sector.
Matthew Luczyk, Senior Vice President and Head of Corporate Advisory at Peapack Private, emphasized the rewarding nature of helping clients realize the value of their business achievements. The firm combines its corporate advisory services with wealth management capabilities to provide a differentiated client experience. The transaction team included key contributors John Bolebruch, David Markovich, Robert Vogel, and Brett Flynn, working collaboratively to navigate the complex financial arrangement. Peapack Private Investment Banking continues to build its reputation in middle-market transactions, offering strategic advisory and direct lending solutions across various industries. More information about the firm's services can be found at https://www.peapackprivate.com.
The firm's expertise in business services sector deals demonstrates its growing influence in facilitating strategic partnerships that strengthen market positions and expand service capabilities for companies like ACA Computers. This transaction highlights the continued consolidation in the managed IT services market, where established providers seek to enhance their service offerings and geographic reach through strategic acquisitions. The successful completion of this deal reinforces the value proposition of specialized investment banking services in guiding business owners through complex ownership transitions while maximizing value and ensuring strategic alignment with acquiring entities.
