CLAYTON, Mo.--(BUSINESS WIRE)--Agellus Capital, a private equity firm focused on essential, non-discretionary businesses, announced today it has recapitalized BlackPoint IT Services (“BlackPoint” or the “Company”), a leading provider of managed IT and cybersecurity services. James and Lesleigh Watson will remain significant owners in the business.
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.
James Watson, CEO of BlackPoint said, “We are excited to partner with the Agellus Capital team in this next phase of growth for 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 and the BlackPoint team to continue building upon the Company’s historical success,” said 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.
Cascadia Capital served as financial advisor and Fredrikson & Byron P.A. served as legal counsel to Agellus Capital.
About BlackPoint IT Services
BlackPoint simplifies IT for its clients by aligning its services and technology expertise with its customers' business objectives to deliver best-in-class solutions. Founded in 1977, BlackPoint is now a leading provider of Cloud, Security and Managed IT infrastructure services in the Pacific Northwest and Mountain West. A business built on ethics and personal touch, BlackPoint is steadfastly committed to giving back to its clients and its community. To learn more, visit blackpoint-it.com.
About Agellus Capital
Founded in 2024 and based in Clayton, Missouri, Agellus partners with founders, families, and management teams to drive transformational growth in non-discretionary, essential services businesses in the United States and Canada. Agellus targets platforms of $2 million to $20 million of EBITDA in large, fragmented markets and aims to be the partner of choice in the middle market for its portfolio companies, investors, and people. For more information, visit agellus.com.
