CHICAGO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Deft (formerly ServerCentral), a managed data center service provider, has been acquired by Summit, one of the largest providers of virtual servers and cloud-based application hosting in the U.S. and Canada.
The acquisition unites Deft’s robust data center and network services with Summit’s cloud hosting expertise, expanding the available data center footprint and portfolio of hands-on IT solutions for clients.
Deft founder Jordan Lowe will be transitioning to the role of Chief Strategy Officer, while co-founder Daniel Brosk will remain Chief Operating Officer. The duo will dedicate themselves to ensuring a consistent experience for Deft’s clients as they join Summit. “There’s no hidden agenda to change how Deft operates,” said Lowe. “That hands-on approach our customers know and love now just has more hands.”
Warren Patterson, Chief Executive Officer at Summit, is poised to navigate the combined business through the opportunities that lie ahead: “Together, Summit and Deft share a unified vision for the future of IT services — a future where innovation, security, and customer-centric solutions lead the way. This is more than an acquisition; it’s a fusion of strengths.”
Advising firm DH Capital facilitated the sale of Deft to Summit. The transaction was backed by continued investment from Silver Oak Services Partners, LLC.
Deft is Summit’s third acquisition over the past 18 months.
For more information, read the blog post.
About Deft
Deft, a Summit company, is a trusted provider of managed IT services for SMBs to the Fortune 500. For more than 24 years, we have provided award-winning colocation, cloud, and network services in top data centers worldwide. Learn more at Deft.com and follow us on LinkedIn and X.
About Summit
Summit creates IT solutions tailored to the needs of growing businesses. The cloud solutions provider enables real-time remote access to critical business applications, including QuickBooks, Sage, and SAP Programs. Summit’s secure, scalable cloud computing solutions enhance remote accessibility, improve access to data, and control costs. For more information about Summit, visit SummitHosting.com.
About DH Capital
DH Capital is an integral part of Citizens M&A Advisory – a fast-growing investment bank offering comprehensive services spanning M&A Advisory, debt and equity capital markets, equity research, institutional securities, valuation, and FX, interest rate and commodity risk management solutions. The DH Capital platform is sector-specialized in Internet infrastructure, telecommunications, and SaaS, excelling at consistently realizing successful M&A outcomes in addition to arranging critical financing solutions regardless of complexity. DH Capital has completed over 210 M&A transactions and private capital placements totaling approximately $60 billion in value.
About Silver Oak Services Partners, LLC
Founded in 2005 and based in Evanston, IL, Silver Oak is a leading lower middle market private equity firm focused exclusively on service businesses. Silver Oak invests in business, healthcare, and consumer services companies in the lower middle market, typically with EBITDA of $4 million to $25 million.
CONTACT:
Sara Coullard
Deft, a Summit company
312.268.9238
scoullard@deft.com
