CompassMSP buys Philadelphia IT and cybersecurity provider The Logic Group

CompassMSP, a West Hartford, Connecticut-based provider of IT and cybersecurity services backed by Agellus Capital, has acquired The Logic Group, PE Hub reported. The companies did not disclose financial terms, leaving no reported valuation or transaction multiple for the managed services deal.

The Logic Group is based in Philadelphia and provides managed IT and cybersecurity services, according to PE Hub. Greg Beese is the company’s founder and chief executive, and the business was established in 1996, PE Hub reported.

The acquisition brings together two companies operating in managed technology services, a field in which providers typically support clients’ day-to-day IT operations and security needs under contracted service arrangements. PE Hub did not report details on financing, ownership changes at The Logic Group, management plans or post-closing integration.

Deal parties

CompassMSP is headquartered in West Hartford and provides IT and cybersecurity services, according to PE Hub. The company is backed by Agellus Capital, a private equity firm identified by PE Hub in connection with the transaction.

The Logic Group’s Philadelphia base gives CompassMSP an acquired business in a large Mid-Atlantic commercial market. PE Hub identified the company as a managed IT and cybersecurity firm but did not provide customer counts, revenue, employee numbers or sector mix.

The absence of disclosed pricing limits the information available to investors and competitors assessing valuation levels in the managed services market. Undisclosed terms are common in private-company transactions, particularly where buyers and sellers do not have public reporting obligations.

PE Hub reported the transaction as a completed acquisition. No additional terms, closing date or adviser information were reported.

This story draws on original reporting from PE Hub.