PALO ALTO, Calif., Dec. 1, 2021 /PRNewswire/ -- New Charter Technologies, a portfolio company of Palo Alto-based private equity firm Oval Partners, announced the partnership of Kinetix. Located in San Mateo, California, Kinetix is the leader in IT security and support for startups and high-growth businesses. Kinetix's culture and service model are centered around helping its clients and people grow.
New Charter Technologies CEO, Mitch Morgan is excited to have the company join the growing roster of North American MSPs. "The client focus, culture of continuous improvement, and quality of the team really sets Kinetix apart in the important Silicon Valley market. Pratap, Ryan, and the entire Kinetix team bring so much to our partnership," Mitch explained.
Pratap Mukherjee, CEO of Kinetix, joined New Charter because of the alignment, cohesiveness, and shared vision across the platform. "Everyone I met was professional, experienced, and demonstrated the ability to execute on the vision and goals of the business," said Pratap. The Equity Partnership model offers business owners the ability to run their company independently while leveraging the platform's broader capabilities and resources. "I liked the model because it allowed us to keep our culture and operations while tapping into a large community of resources and expertise to better serve our clients," explained Pratap. For example, New Charter partner companies are leveraging a wide variety of advanced security offerings, allowing them to add additional capabilities in providing their clients with a full-service cybersecurity strategy. In addition, Kinetix can now offer its innovative inventory management solution to partner companies, extending service and value to the market.
The Oval Partners and New Charter Technologies business model is focused on building a caliber of business that the IT industry hasn't yet seen. The strategy is revolutionary and changes the standard in which the industry operates.
Here are the five pillars that make up the foundation of New Charter:
- The platform partners with business owners who are not sellers but rather looking for an opportunity to continue what they're doing and having a financial partner for further investment.
- A team of business owners to partner with for the sharing of new ideas and industry best practices to accelerate their business forward.
- The foundation of the model is centered around the idea that the Managed IT industry is a "people-business" requiring a local touch and should not be consolidated in order to build upon success and reach new growth and service delivery levels.
- The partners who make up the New Charter banner are high growth and high margin businesses who share a common set of cultural and business objectives.
- The owners are the Leadership team and are collaborating and strategizing in a way that has never been seen in the industry.