HKW, a middle-market private equity firm focused on growth companies, has acquired CMIT Solutions LLC, an information technology managed service provider franchisor, and HTW Inc., CMIT’s franchisee.
In 2022, CMIT systemwide surpassed $100 million in revenue. The simultaneous acquisition of HTW serves as the foundation for a CMIT corporate affiliate that uses one of CMIT’s franchisees to service multi-location accounts and large enterprise customers. The combined CMIT and HTW team of IT and security professionals looks to provide clients with services for larger and more complex projects. Additionally, the shared resources among franchise locations aim to help CMIT’s franchisees in supporting clients who need specialized expertise. Jason Arabian, founder of HTW, will join CMIT as chief strategy officer.
“HKW shares our goal of accelerating our company’s growth while creating more value for our clients,” states Roger Lewis, CEO of CMIT. “Their expertise and support will be instrumental as we achieve the next phase of our maturity through new initiatives in marketing, sales, and operations, including adding centralized fulfillment capabilities.”
Taft Stettinius & Hollister LLP served as legal advisor to HKW. Cowen Inc. served as financial advisor to CMIT. Revenue Rocket Consulting Group served as financial advisor to HTW. Senior debt financing was provided by LBC Credit Management.