NWN Corporation has acquired Carousel Industries, a move that puts the combined companies over the $1 billion run-rate revenue in 2021.
The acquisition, backed by New State Capital Partners, “comes on the heels of a record 24 months for NWN, including significant adoption of its solution portfolio and 20% acceleration in revenue growth from the year prior,” according to the joint announcement.
With the acquisition of Carousel, the company is “doubling down on its solutions for cloud communications, engagement, networking, devices, security, and infrastructure built for the work-from-anywhere environment,” the announcement says.
“Our intent is to build a national powerhouse brand that will transform expectations for today’s work-from-anywhere environment,” said NWN CEO Jim Sullivan. “Business communications are essential to productivity and collaboration.
“There is a tremendous need for service providers to help deliver better employee and customer experiences across commercial and public sector markets. The combined entity will give us unparalleled reach and resources to meet customer demand,” he said.
Not long after acquiring Atrion, we presented Carousel Industries as a $525 million competitor in the AV integration space for our April 2017 cover. Photo: Adrien Bisson
Why NWN Acquired Carousel Industries
Carousel Industries serves more than 5,000 customers nationwide. Founded in 1992, the company employs more than 1,000 people across the country. Like NWN, the company has expertise across unified communications and collaboration, secure infrastructure, data centers, networking and cloud solutions.
“This acquisition represents an incredible opportunity for Carousel employees, customers, and partners alike,” said Carousel Industries founder and CEO Jeff Gardner, who will join the NWN board of directors as part of the acquisition.
“We share an innate passion for propelling our customers’ journey to the cloud – driving adoption with speed and scale, providing ROI and enriching their transformation journey. As much as 70% of our customer base is demanding integrated cloud services now and this partnership will advance our ability to meet and exceed their needs from day one,” he said.
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“This chapter represents such an exciting moment in our journey: a meeting of two organizations that have a rich history of valuing clients and putting them first,” said Jim Marsh, chief revenue officer of Carousel Industries.
“Our success is a result of operating from a ‘customer success obsessed’ vantage point, and now we will continue to propel our clients forward with the same mindset, but with greater scale and deeper resources. This acquisition is a great testament to years of diligent work and thoughtful execution from the Carousel family. We are very proud to enter this next chapter together,” he said.
“We are pleased to welcome the Carousel team into the NWN platform, which represents a transformational opportunity to help customers adopt critical IT investments faster,” said David Blechman, founder and senior principal of New State Capital Partners.
“Our approach in backing NWN’s leadership team, as they pursued an aggressive organic and inorganic growth strategy, was to provide the full extent of New State’s deal analysis, financial and strategic guidance as they build a new national cloud communications leader,” he said.
