Boathouse Capital Realizes Cal Net Technology Investment
August 7, 2018
Wayne, PA – August 7, 2018 – Boathouse Capital is pleased to announce Cal Net Technology Group’s merger with NexusTek, a leading IT services firm headquartered in Colorado. The combination creates a super-regional managed IT services firm in the western-half of the U.S.
Boathouse Capital will be exiting the investment after five years of stewardship. Over the course of their investment, Cal Net became a leading Southern California-based managed services provider through a combination of organic growth and the acquisitions of inhouseIT, Alpha Actual and Velocity Network Solutions.
“We are very excited to partner with the NexusTek team,” said James Hwang, Chief Executive Officer of Cal Net. “The IT Services market is going through a critical phase of market consolidation and technological innovation. Together with NexusTek, we will have the resources and market presence to become a leading managed services provider in the Western-half of the U.S.” Mr. Hwang will join NexusTek as Chief Operating Officer and President.
“We want to thank the team at Cal Net for a successful exit,” said Bill Dyer, General Partner of Boathouse Capital. “We believe that this combination with NexusTek is another important milestone in the Company’s roadmap. We enjoyed working with the leadership team of Cal Net during our watch and look forward to its continued success.”