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TUC Brands Announces the Acquisition of Protek Corporation, Southwestern Ontario's Leading Provider of Managed IT SolutionsAug 8, 2012, London Ontario – TUC Brands today announced the acquisition of Protek Corporation, a premiere managed services provider (MSP) in Southwestern Ontario with headquarters in London, Ontario. Since 1983, Protek has been dedicated to providing innovative IT systems integration and was recently named to CDN’s Top 100 Solutions Providers list of top performing MSPs. Protek is also a long-time member of Ingram’s VentureTech Network and one of its principals, Peter McMahon, is past-president of VTN Canada. Protek, which generates over $10M in annual revenue, continues TUC’s strategy of acquiring best-in-class MSPs that are well established and regarded in key markets in Canada and the US. Protek’s customers will now benefit from expanded helpdesk hours and capabilities, along with a deep technical bench and expanded services in areas such as virtualization, networking and security from TUC headquarters in Ottawa. “We are very excited to add such a quality organization to the TUC fold,” stated Mark Scott, CEO of TUC Brands. “We were looking to grow our presence in Southwestern Ontario, which is one of the key markets in Canada, by acquiring a strong regional MSP and we are very proud to add their team and expertise to our organization.” The Protek acquisition brings TUC a large customer, revenue and employee base, along with a strong technical bench with key vendor relationships and certifications. Protek’s core business is delivering managed IT solutions to small and medium-sized businesses primarily in London, but also in neighboring cities from Windsor to Kitchener-Waterloo. In addition to managed IT and professional services, a key offering for TUC is Protek’s Managed Print program. TUC has appointed Elizabeth Walpole as President for the London region to work with the Protek team, including initially heading up integration. “About a year ago we were approached by an M&A advisory firm who introduced us to two US-based IT firms interested in expanding to Canada. In addition to these firms, we were introduced to TUC in March 2012 expressing an interest to expand to SW Ontario. Al, Peter and I assessed our options and after considerable dialogue with all parties, concluded that TUC would be the best option for our clients and employees. We needed to join forces with an organization with national reach and a proven ‘next-generation’ remote managed services operating model to help our customers and employees grow into the future,” stated Harvey Schilke, CEO of Protek. “After we evaluated several potential acquirers, TUC became the obvious choice the further we engaged with them and began to work with their leadership team. We are very excited about the prospects for our business and expansion ahead!” The transaction is subject to customary closing conditions. Protek will operate as a Division of TUC. About TUC™ Brands About Protek Corporation For more information contact: Protek Corporation About TUC® |
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