Cascadia Advises Agellus Capital in its Recapitalization of BlackPoint IT Services

has acquired BlackPoint IT Services Logo

Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Agellus Capital, a private equity firm focused on essential, non-discretionary businesses, in its recapitalization of BlackPoint IT Services (“BlackPoint” or the “Company”), a leading provider of managed IT and cybersecurity services.

Headquartered in Seattle, WA, BlackPoint manages complex IT environments for small and mid-sized clients through tailored managed services, cloud and software hosting, cybersecurity, and consulting. The Company provides 24/7/365 monitoring and comprehensive IT support across the Pacific Northwest and Mountain West regions to ensure its clients’ IT health and security.

“We are excited to partner with the Agellus Capital team in this next phase of growth for BlackPoint,” said James Watson, CEO of BlackPoint. “The team’s thesis and platform vision aligned with what we were seeking in a partner, and the speed and transparency with which they operated drove our decision. We look forward to utilizing our collective experience and resources to position the Company for continued success.”

“We are honored and excited to be partnering with James, Lesleigh Watson and the BlackPoint team to continue building upon the Company’s historical success,” added Beau Thomas, Managing Partner at Agellus Capital. “The BlackPoint team has built an exceptional business that provides high quality solutions for clients and serves as a top place to work for employees.”

“We’re excited to invest behind BlackPoint and see significant opportunities for accelerating organic growth and further add-on acquisitions within the highly fragmented IT managed service provider market to expand the Company’s capabilities, geographies, and talent. We look forward to supporting the team on this next stage of growth,” said Jordan Prohaska, Principal at Agellus Capital.

“M&A activity in the IT Managed Services space remains robust and a key focus for private equity, with strong ongoing demand. This recent transaction, along with the addition of Jordan Finkler as a Managing Director to the Cascadia team, underscores our commitment to supporting companies in this sector. We are excited to witness the continued success of Agellus and BlackPoint IT in their partnership,” said Hugh Campbell, Managing Director at Cascadia.