New York, NY – October 14, 2022 – Tenex Capital Management (“Tenex”) is pleased to announce its investment in Network Coverage (the “Company”), a cloud-focused managed service provider (“MSP”) delivering comprehensive technology solutions that align IT needs to business outcomes.
Headquartered in Danvers, MA, Network Coverage was founded in 1996 and operates across 14 office locations with over 140 employees globally. The Company has amassed a loyal client base who view Network Coverage as a trusted advisor to manage their entire IT environment leveraging modernized and secure solutions across business functions. In all solutions, Network Coverage acts as a strategic partner to clients, positioning IT as a critical growth center, rather than a complex cost center.
“Since founding Network Coverage over 25 years ago, we have steadily grown through an experienced team providing fast and high-quality technology solutions. As we enter the next phase of growth, we sought a value-added partner to help us achieve our goals, and we are excited to have found that partner in Tenex,” said Terry Ledger, Founder and CEO of Network Coverage.
Tenex Managing Director, Varun Bedi commented, “Tenex has reviewed the MSP space for some time given the increasing criticality of technology within the business. We’re pleased to have finally found the right partner for us in Network Coverage, and we believe we are well positioned to continue to scale together.” Tenex Managing Director, Joe Cottone added, “We look forward to working with Terry and team, leveraging their expertise and knowledge while continuing to provide a premium level of service.”
The transaction closed on September 28, 2022. Lazard served as financial advisor to Tenex.