Frisco-based TeleCloud and Pennsylvania-based Third Generation have been acquired by Austin-based joint family office Davenforth as it launches a new managed IT, voice, and networking platform with these acquisitions.
Terms of the acquisitions were not disclosed.
As a result of these acquisitions, Davenforth said its platform will service 21,500 users across 900 businesses. Davenforth said the companies will maintain their independent operations, with the existing leadership teams of both businesses remaining in place to ensure continuity and preserve the distinctive strengths of each organization.
“We’re thrilled to partner with Davenforth as we scale TeleCloud to a new level,” TeleCloud founder Rusty Bridges said in a statement. “This collaboration marks a significant milestone, allowing us to enhance our service offerings and empower our team members to reach new heights. We deeply appreciate Davenforth’s support and commitment, and we look forward to the transformative impact this partnership will bring.”
Davenforth said its approach focuses on building an exceptional platform of companies delivering cloud communication, connectivity, and managed services to small, medium, and enterprise-level business customers. It said this group of companies is committed to providing exceptional customer service, maintaining high retention rates, and staying at the forefront of the industry.
Michael Ray, general manager of Third Generation, said in a statement that he’s excited to partner with Davenforth “to invest in growth while continuing to provide the white-glove support we have become known for over our 40-year history. Our team is highly capable and our products are excellent, so we are thrilled to bring the Third Gen experience to more customers in this partnership with Davenforth.”
Davenforth’s founders said the acquisitions are a good fit for the company.
“We could not be more pleased to be the new owners of TeleCloud and Third Generation,” founders Logan Brown and Bradley Roofner said in a joint statement. “We noticed right away our experience would combine well with these high retention, recurring revenue businesses that have excellent teams. We’re honored to be the stewards of these two quality businesses and are excited to continue their legacies while scaling them to the next level.”
TeleCloud was founded in 2007 and is a cloud communication and connectivity provider serving the South Central and West Coast regions. It specializes in cloud communication services along with network deployment and provides a wide variety of carrier-grade solutions to its broad customer base.
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