AUSTIN, Texas, February 16, 2022 —TPx, a leading nationwide managed services provider delivering cybersecurity, managed networks and cloud communications, announced it will receive a growth equity investment of $70 million to accelerate its growth strategy and technology transformation as a leading IT, security and networking managed services provider to small- and medium-sized businesses (SMBs). As part of the investment, TPx is upgrading its technology infrastructure and investing in its channel partner capabilities to enhance customer success and accelerate growth.
The equity investment, led by Siris Capital Group, LLC (“Siris”), will accelerate enhancements to TPx’s industry-leading product offerings, systems and operations to improve the customer experience, enhance service excellence and bolster digital transformation. Additionally, TPx has refinanced its senior debt agreements on more favorable terms including a multi-year extension of maturities.
“TPx has helped businesses navigate a complicated and evolving IT landscape for more than two decades,” said Rick Mace, Chief Executive Officer of TPx. “With this investment, we are doubling down on our commitment to prioritize our customer experience. We look forward to investing in our people, our systems and new digital capabilities to help ensure service excellence and continue to meet the evolving IT needs of our direct customers and channel partners.”
Security risks from accelerated cloud adoption as well as myriad market forces require SMBs to work with a trusted advisor to advise and manage their IT services. TPx helps its customers and channel partners steer through complicated IT demands with a full suite of managed and co-managed networking, unified communication (UC) and cybersecurity solutions. With more than 120 technology certifications, TPx engineers, architects and support experts manage complex IT deployments and enable technology success for businesses of all types and sizes.
“The Board is excited to continue to support TPx as it focuses on extending its market leadership position and focusing on modern IT needs,” said Joe Cozzolino, Chairman of the Board of TPx and a Siris Executive Partner. “TPx expertly serves its large, diversified customer base through the deployment of a highly scalable and reliable UC platform and comprehensive suite of managed security, managed WAN and other managed IT services. With this investment, TPx is better positioned to address evolving customer needs and remain at the forefront of innovation in UC and IT solutions.”
About TPx Communications
TPx is a leading nationwide managed service provider focused on the success of small- and medium-sized businesses (SMBs) with approximately 18,000 customers in more than 49,000 locations across the U.S. For more than two decades, TPx has offered managed services and solutions to help customers across every business sector address the growing complexity of their IT environments. For more information, visit www.tpx.com or follow TPx on LinkedIn, Twitter and Facebook.
Managing Partner, Chirp