A solution provider with more than 500 employees and offices in the U.S. and Canada was purchased by a private equity company as the wave of consolidation that has hit the MSP market rolls on.

Buchanan Technologies—No. 417 on the 2019 CRN 2019 Solution Provider 500—is based in Grapevine, Texas, and has its Canadian headquarters is in Mississauga, Ontario. It was purchased by Lightview Capital, a New Jersey company founded in 2012 that works in the midmarket space.

“We chose Lightview because of their deep MSP sector knowledge, shared values and a strong common vision for our growth,” James Buchanan, CEO and founder of Buchanan Technologies, said in a statement.

Terms of the deal were not disclosed.

The MSP was named to the Elite 150 in the 2019 CRN MSP 500 and has won Microsoft Business Productivity Innovation and HDI Pinnacle of Excellence awards.

“It’s a great company,” Seth Collins, managing director and head of martinwolf’s LMM Group, a leading M&A firm serving the midmarket IT industry that represented Buchanan in the transaction, told CRN. “It’s been in business more than 30 years. It has a long-standing customer base, global reach and just a lot of upside potential. With the right partner and the right culture, it’s a one-and-one- equals-nine type thing.”

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