PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Apogee IT Services, backed by Brook Venture Partners, on the sale of its U.S. assets to Magna5. Magna5 is a national provider of managed IT, cybersecurity and cloud-based services and a NewSpring Holdings portfolio company.
Apogee IT Services is a leading international provider of managed IT services that delivers outsourced IT management, consulting, managed detection and response, 24-7 helpdesk and data center services to clients.
Chief Executive Officer of Apogee Paul Cronin said: “Tom Donahue and the Citizens M&A Advisory team had great knowledge of the MSP landscape and provided exemplary advice from start to finish. This transaction allows Apogee to expand its growth and focus in the Canadian marketplace.”
Citizens Managing Director Tom Donahue said: “Apogee has built an impressive managed services firm and has earned a strong reputation. We are excited to follow the story of their U.S. operations as they join the Magna5 team.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.7 billion in assets as of December 31, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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