Partner Profile: Growing MSP Sticks To Its Acquisition Recipe
Submitted by Jimmy Sheridan on
But if the companies are cultural fits, Bickmore then makes sure the two will match up technologically, with the same CRM system, billing solution and similar technologies.
After that, SNAP examines the back-office processes, looking for synergies that will help streamline billing, insurance, internal asset management and HR, which can allow the deal to close more smoothly and quickly.
Bickmore said SNAP has streamlined its acquisition process, and can integrate a new company’s back-office processes and technology solutions in about a month. That, he says, helps SNAP with the much lengthier process of cultural integration.
“If you get people excited, they will come with you for the ride - if you get immediate improvements and ‘wins’ up-front, they are in. And for them, they feel that life just got better,” he said.
Today, SNAP is eyeing larger acquisitions that will move the company into top-tier markets like New York, Chicago, Miami and Houston and introduce SNAP to larger clients.
For those acquisitions, Bickmore said his company has a plan and will look to start funding those acquisitions through a New York-based venture capital firm that Bickmore has developed a relationship with.
“We have that relationship built and ready, but we will only jump into the venture capital as we move into bigger deals,” he said.
Bickmore admits that SNAP's strategy to grow through acquisition is not groundbreaking.
“There are 300,000 companies providing some type of managed service in the US,” Bickmore said, using numbers he said he received from his vendor partners, and adding that he believes many of them are interested in M&A.
“For us, we see it as an imminent land grab. It is time to be a part for the consolidation, or to get out,” he said.
“I think we are charging ahead," Bickmore said confidently. "The next five to seven years are going to be fun and fast for us."