July 2, 2018

Winxnet merges with Calif. firm, giving it coast-to-coast market reach

Courtesy / Winxnet
Courtesy / Winxnet
Winxnet co-founder Chris Claudio will continue to lead the Portland-based IT company as CEO following its merger with San Diego-based K&R Network Solutions Inc. Winxnet co-founder Michael Williams will lead the combined entity as president

About Winxnet

Winxnet Inc. is an IT consulting and outsourcing firm that has been helping organizations reduce IT costs, lower risk, and achieve greater returns on investment on technology initiatives since 1999. With multiple offices throughout the Eastern United States, Winxnet provides a broad reach with local expertise.

About K&R Network Solutions

Since 2001 K&R Network Solutions has been providing IT consulting leadership to the San Diego, Calif., area, with a presence in Los Angeles and a strong commitment to service quality and client experience. It has specific expertise in technical integrations, IT advisory services and proactive monitoring.

About Riverside Co.

The Riverside Co. is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 540 transactions. The firm's international portfolio includes more than 80 companies.

Portland-based Winxnet Inc. announced today it has merged with San Diego-based K&R Network Solutions Inc. to form a coast-to- coast managed IT services company.

The new company will retain the Winxnet name and retain its headquarters in Portland. It will employ more than 130 people between offices in Portland; San Diego; Lawrence, Mass.; and Chattanooga, Tenn.

In a joint news release announcing the merger, the two companies stated they anticipate a smooth combination of their strategically aligned operations over the course of 2018. The merger, they added, puts the combined company in the position of becoming a leading national managed service provider with deep technical experience, IT automation and a strong strategic growth plan.

In addition, Winxnet has entered into a strategic investment partnership with Riverside Co., a global private equity firm, to assist with its ambitious growth strategy.

The merged company will be led by a blend of the Winxnet and K&R Network Solutions' leadership teams. Winxnet co-founders Chris Claudio and Michael Williams will lead the combined entity as CEO and president, respectively, and will be joined by technology and IT automation pioneer Jeremy Kurth as incoming chief technology officer.

"This merger brings together two world-class managed service providers with entirely complementary proficiencies around IT management and delivery," Claudio said. "Combined with the intellectual property and IT automation software that K&R Network Solutions has developed, we are poised to transform an industry, including fundamentally improving the overall client experience with IT."

Kurth said the combination will enhance capabilities and service for clients of both companies and build a powerful growth platform.

"By joining forces we have expanded the current offerings to our clients, created more opportunities for our teams and created a very strong partnership for continued growth," said Kurth.

The broader partnership with Riverside will allow Winxnet to further execute on a national expansion plan through both organic sales growth, and a pursuit of add-on acquisitions to expand offerings and capabilities for clients.

"From strategic plan development to tactical support, Winxnet truly is a one-stop shop for small- and medium-sized businesses in need of excellent IT support," said Riverside partner Brian Sauer.

Bowstring Advisors acted as the exclusive financial advisor to Winxnet in this transaction.

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