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Bringing Enhanced Value and Capabilities for Employees and Clients

(Palo Alto, CA) September,15 2021 – New Charter Technologies, a portfolio company of Palo Alto-based Oval Partners, announced the joining of ADNET Technologies. Located in Greater Hartford, Connecticut and New York’s Capital Region, ADNET provides industry-leading service across three core areas – Managed IT Services, Security, and Cloud – and is distinguished by its human-centered approach to client engagements.

As New Charter’s roster of North American MSPs continues to grow, ADNET Technologies is a welcome addition to the platform. Mitch Morgan, New Charter Technologies CEO explains, “We’re building a national MSP platform in an entirely new and different way. We call it an Equity Partnership. We take a culture-focused approach and partner with companies that share our mission to improve people’s lives with technology solutions. That’s why we were so impressed with the team at ADNET Technologies. They care deeply about their colleagues, clients and communities – and it translates into high-quality, innovative services that meet the diverse technology needs of the people they serve. They’ll help us take our national platform to the next level.”

Christopher Luise, the CEO of ADNET Technologies, is excited to join the strategic partnership to fuel their ongoing evolution and accelerate their talent-led growth in the Northeast and beyond. Luise explains, “Our employees are the reason for our company’s consistent success, so we were only willing to work with an investment partner that would help us create new opportunities for our team and support our work to build a company culture that retains, attracts and empowers top talent. Joining forces with New Charter is about more than access to capital; it’s about shared values, talent development and industry innovation that will have a tremendous impact for our regional business communities.”

ADNET joins the platform with incredible domain expertise and resources in advanced security. There’s a great opportunity for shared services and best practices that will allow our entire team to better serve clients across various industries.

The Oval Partners and New Charter Technologies business model is focused on building a caliber of business that the IT industry hasn’t yet seen. The strategy is revolutionary and changing the standard in which the industry operates.

Here are the five pillars that make up the foundation of New Charter:

  • The platform partners with business owners who are not sellers but rather looking for an opportunity to continue what they’re doing and having a financial partner for further investment.
  • A team of business owners to partner with for the sharing of new ideas and industry best practices to accelerate their business forward.
  • The foundation of the model is centered around the idea that the Managed IT industry is a “people-business” requiring a local touch and should not be consolidated in order to build upon success and reach new growth and service delivery levels.
  • The partners who make up the New Charter banner are high growth and high margin businesses who share a common set of cultural and business objectives.
  • The owners are the Leadership team and are collaborating and strategizing in a way that has never been seen in the industry.

“ADNET Technologies is the 12th high-performing MSP to join New Charter,” said John Knoll, Co-Founder and Managing Director at Oval Partners. “Their team truly takes a people-focused approach to their work. Whether it’s building inspiring workplaces for their employees or collaborating with clients to make their technology more secure and easier to manage, empowering people is a hallmark of ADNET’s culture. They’re a perfect fit for our growing national platform, and we’re excited to help their leaders achieve their vision for growth.”

ADNET is excited to take the next big step as an organization and believes that joining the New Charter platform will contribute to the movement to fundamentally transform managed IT services into a people-first industry.

ABOUT ADNET TECHNOLOGIES
Founded in 1991, ADNET Technologies is a SOC 2, Type II Compliant IT management and security firm with offices in Rocky Hill, CT and Albany, NY. ADNET works closely with clients to provide industry-leading service across three core areas – Managed IT Services, Security, and Cloud – and is distinguished by its human-centered approach to client engagements.

Embodying a people-first culture both internally and externally, ADNET has been recognized as one of the “Best Places to Work” in Connecticut by the Hartford Business Journal each of the last eight years. The firm is ranked among the top global Managed IT Service Providers in Channel Futures’ MSP 501 list and ChannelE2E’s Top 250 Public Cloud MSP list. For more information, visit https://thinkadnet.com.

ABOUT NEW CHARTER TECHNOLOGIES
New Charter Technologies is building a Dream Team of Managed Service Providers. Serving small-to-medium sized businesses in 10+ industries across North America, we deliver best-in-class technology solutions to propel our clients into the digital world. For more information, visit https://newchartertech.com/

ABOUT OVAL PARTNERS
Oval Partners is a multi-family office investment firm designed to provide liquidity, growth, capital and acquisition funding to founders of growing businesses across North America. Oval’s capital base is permanent—it is committed, unencumbered and unconstrained in terms of holding period. Oval offers the capabilities and capital of a private equity fund, but the mentality, partner orientation and investment time frame of a private holding company. Oval’s principals have completed more than 100 transactions involving platform investments, acquisitions, exits, and re-financings. Oval focuses on making investments in the tech-enabled services, information services, internet, software/SAAS, and industrial technology markets. New Charter embodies the essence of Oval’s targeted “buy and build” strategy in attractive, service-oriented, niche end markets. For additional information, please visit https://www.ovalpartners.com/ or contact Dan Escovitz at [email protected].