Peapack-Gladstone Financial Corporation announced that its investment banking subsidiary, Peapack Private Investment Banking, served as advisor in the sale of ACA Computers, LLC to Network Coverage. The transaction represents another successful engagement in the business services sector for the investment banking team, though financial terms were not disclosed. ACA Computers has established itself as a trusted managed IT services provider for mid-sized businesses over its 21-year history. The company specializes in system design and deployment, help desk support, remote IT services, data backup, and cloud computing solutions. Their comprehensive commercial IT offerings include 24/7 monitoring, cybersecurity protection, strategic IT planning, and scalable flat-rate services designed for diverse industry requirements.
The acquisition by Network Coverage, a full-service Managed Service Provider backed by Tenex Capital Management, positions ACA for expanded capabilities and enhanced service delivery across a broader geographic footprint. This strategic partnership enables ACA to leverage Network Coverage's resources while maintaining its commitment to quality service delivery that clients have come to expect over more than two decades. JP Pladek, ACA's Founder and President, expressed enthusiasm about the partnership, noting that Network Coverage's leadership team shares ACA's dedication to innovation and white-glove service standards. Pladek also acknowledged Peapack Private's instrumental role in facilitating a seamless transaction, citing their industry insight and guidance throughout the process.
Matthew Luczyk, Senior Vice President and Head of Corporate Advisory at Peapack Private, emphasized the rewarding nature of helping clients realize the value of their business achievements. The firm combines its corporate advisory services with wealth management capabilities to provide a differentiated client experience. The transaction team included key contributors John Bolebruch, David Markovich, Robert Vogel, and Brett Flynn, working collaboratively to navigate the complex financial arrangement. Peapack Private Investment Banking continues to build its reputation in middle-market transactions, offering strategic advisory and direct lending solutions across various industries.
The firm's expertise in business services sector deals demonstrates its growing influence in facilitating strategic partnerships that strengthen market positions and expand service capabilities for companies like ACA Computers. More information about the firm's services can be found at https://www.peapackprivate.com. This transaction matters because it illustrates the ongoing consolidation in the managed IT services industry, where established providers seek strategic partnerships to enhance their competitive positioning and service delivery capabilities. For ACA Computers, the acquisition provides access to greater resources and expanded geographic reach while maintaining the quality standards that have defined their 21-year history. For Network Coverage, the acquisition strengthens their market position through ACA's established client relationships and specialized expertise in serving mid-sized businesses.
The transaction highlights the importance of specialized investment banking expertise in navigating complex middle-market deals, particularly in the technology services sector where strategic alignment and cultural compatibility are crucial to successful integration. Peapack Private's role in this transaction demonstrates how investment banking firms with sector-specific knowledge can facilitate deals that create value beyond financial terms, focusing on strategic fit and long-term growth potential. The business services sector continues to see significant merger and acquisition activity as companies seek to expand capabilities and geographic presence in response to increasing demand for comprehensive technology solutions.
