Southeast-based Solutions and Services Company Joins New Charter Fold
(Denver, CO) March 17, 2023 – New Charter Technologies, a portfolio company of Palo Alto-based private equity firm Oval Partners, recently announced the partnership of Biz Technology Solutions, Inc. (BTS), a managed IT provider based in Mooresville, North Carolina. BTS offers business-critical services including technology consulting, implementation of enterprise-grade information technology, custom software development and manage IT services throughout the Southeast.
For Mike Chouffani, president, Biz Technology Solutions, the partnership highlights the company’s desire to provide more expert services and gain access to more expertise. The ultimate goal? Being able to better serve customers.
“Time is money for our clients, and when something is not going well, we in the technology business need to have the ability to dispatch quickly no matter the client’s location,” said Chouffani. “Joining New Charter is a big plus for our clients in that regard.”
Chouffani and the Biz Tech team will also have more funds to invest in new technologies, access to the highest standard of compliance, the ability to hire talent quickly, and to scale.
“We are technologists, and we want to focus on that,” Chouffani adds. “New Charter will be an extension of us that will bolster our business, while simultaneously allowing us to preserve our company culture and our brand. Bottom line, this partnership will help accelerate our growth and really allow us to better serve our clients across the nation.”
New Charter Technologies CEO, Mitch Morgan, is thrilled to welcome Biz Technology Solutions into the fold.
“We are excited to join forces with Mike, Reda and the Biz Technology Solutions team,” said Morgan. “Biz Tech brings a broad set of capabilities to our platform. In addition to having a solid local managed services presence, the company has a variety of enhanced services capabilities that we will be able to take across our growing platform.”
Biz Technology Solutions will remain headquartered in Mooresville, and will continue to be led by the same leadership team.
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.
About Biz Technology Solutions, Inc.
Biz Technology Solutions, Inc. (BTS) provides full-service technology solutions for small to medium organizations throughout the Southeast. We offer business-critical services including technology consulting, implementation of Enterprise grade Information Technology, custom software development and Manage IT Services. Our system analysts and engineers bring extensive experience to the rapidly advancing areas of technology, design, implementation and management. We can help you implement information technology initiatives that will support the long-term objectives of your organization using technology that lowers cost of operations, risk, increase competitiveness, and profits.
We are the leader in delivering solutions and services in the southeast. Contact us today for a no pressure discussion to see how Biz Technology Solutions can help you with your business needs: biztechnologysolutions.com
About New Charter Technologies
New Charter Technologies is building a caliber of business the IT industry hasn’t yet seen. 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. Learn more at 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 ovalpartners.com or contact Dan Escovitz at [email protected].