- FortifyIT is Heckens & Wood’s first acquisition to its managed IT services platform
- Utah-based FortifyIT poised for organic market and geographic growth
Orlando, Florida – December 19, 2023 – Heckens & Wood Capital, LLC (“HeckensWood”), a founder-friendly lower middle market private equity firm focused on managed service providers in high-growth markets, announced the acquisition of FortifyIT, LLC (“Fortify”), a Utah-based IT consultancy delivering a broad range of managed IT, cybersecurity and cloud-based solutions including manufacturing, human performance and capital, retail product, family office, solar, training, marketing, technology, health food companies and others.
FortifyIT is the first acquisition in the firm’s endeavor to build a comprehensive Managed IT Services platform. Terms of the deal were not disclosed.
“The acquisition of FortifyIT is a first step in building an integrated managed IT services platform focused on developing and delivering exceptional IT solutions,” said Thomas Heckens, co-founder and managing partner for Heckens & Wood, LLC. “FortifyIT exemplifies the partner-focused mentality of Heckens & Wood; an approach that will continue to be a guidepost as we grow the company into a national provider.”
A recent Grand View Research study noted that the global managed services market is expected to grow at a CAGR of 13.6% from 2023 to 2030, reaching USD 731.08 billion with cybersecurity, managed networks and data centers, cloud-based management and IT infrastructure holding the largest market size. Growth in the managed IT services market accelerated with the onset of the COVID pandemic as organizations needed to scale the capabilities of their IT infrastructure and end user systems rapidly and securely.
The increasing complexity of IT systems and the adoption of new technologies continue to push organizations to embrace digital transformation. Even as business operations return to pre-pandemic levels, the distributed workforce, and need for a secure, expertly managed information technology infrastructure continues to grow. Managed service providers like FortifyIT will be invaluable partners as they allow businesses to focus on their core strengths while also keeping pace with technology innovations through customer-led design and development of customized IT solutions.
Under Heckens & Wood ownership, all FortifyIT employees and clients will continue to be supported. FortifyIT Founder Mike Williams will serve as the Company’s chief operating officer and Tim Wood, co-founder and managing partner for Heckens & Wood, will serve as CEO.
“I’m excited about the investment, leadership expertise and vision that Tim and the Heckens & Wood team have already brought to FortifyIT,” says Williams. “We have a strong customer base here in Utah. Tim and Tom’s commitment to ensuring that both our employees and current customers remain at the heart of our business was a key differentiator in choosing Heckens & Wood as our partner for the next phase of our growth. ”
“Mike and the FortifyIT team have built a tremendous foundation for growth,” Wood concludes. “As we move forward, our commitment to ensuring operational efficiency and cutting down operating expenses positions us well to increase service offerings and market share all while keeping up with the ever-accelerating pace of innovation. Exciting times ahead.”
Laura Giles with Ballard & Spahr LLP served as legal advisor and Timothy Wood served as financial and tax advisor to Heckens Wood. Wave Rock Lending provided financing for the transaction.
About Heckens & Wood Capital, LLC
Founded in 2023 by Thomas Heckens and Timothy Wood, Heckens & Wood, LLC, brings together a combined 40 years of entrepreneurial, leadership, and investment expertise across both private and public sector business. Heckens & Wood Capital is focused on optimizing small business growth in fast-paced, technology services market segments.
About FortifyIT
Founded in 2016 in American Fork, Utah, FortifyIT excels in managed IT solutions and business partnering to fit every stage of business, from startup to enterprise. For more information, visit FortifyIT.net.
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