Network Coverage

Canaccord Genuity Advises Network Coverage, A Cloud-First Managed Service Provider, on its Majority Investment from Tenex Capital Management 

Canaccord Genuity is pleased to announce it has advised Network Coverage, a cloud-focused managed service provider (MSP) delivering comprehensive technology solutions that align IT needs to business outcomes, on its majority investment from Tenex Capital Management. The transaction closed on September 28, 2022.

Network Coverage is a purpose-built, cloud-first MSP designed to deliver the best solutions that align IT needs to business outcomes and to be a strategic partner to its clients. The company offers premium services to mid-market enterprise organizations and has amassed a loyal client base that views Network Coverage as a trusted advisor to manage their entire IT environments by leveraging modernized and secure solutions. In all solutions, Network Coverage acts as a strategic partner to clients, positioning IT as a critical growth center, rather than a complex cost center. Headquartered in Danvers, Massachusetts, Network Coverage was founded in 1996 and operates across 14 office locations with more than 140 employees globally.

Tenex Capital Management is a private equity firm that invests in middle market companies. The firm uses an in-house team of hybrid investment professionals skilled in operational leadership, investing, and capital markets structuring to maximize long-term value creation. Tenex Capital Management’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex Capital Management has successfully invested in a diverse range of industries, including diversified industrials, business and tech-enabled services, and healthcare.

Canaccord Genuity, with a team led by Ben Lunka, Sanjay Chadda, and Andrew Hinkson, served as the exclusive financial advisor to Network Coverage.
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