Ancero, a Mount Laurel-based communications solutions provider, announced on Nov. 8 that it has reached an agreement to acquire Ground Swell, an Egg Harbor Township-based provider of IT support and network services.
According to a company press release, the Ground Swell acquisition is “representative of Ancero’s steady growth and identifies the opportunity for greater expansion into the Jersey Shore footprint.”
Ancero did not divulge the acquisition price and other financial details of the deal which was signed Nov. 4 and should be concluded by Jan. 1, 2017.
While the acquisition is finalized, Ground Swell's employees will continue to operate from its Egg Harbor Township office under the direction of Ancero.
“Ancero has been looking to expand and acquire another firm that shares our values, culture and commitment to service. Ground Swell is a company that has provided outstanding IT service delivery to their customers for over 14 years,” said Paul Boyer, Ancero’s managing partner, in the press release .
“That dedication serves their clients' best interests as well as built great relationships with technology partners in the industry. Our cultures align very well and their geographic presence in Cape May, Atlantic and Ocean County fast tracks our expansion plans.”
Justin Tinel, Ground Swell’s president, added: “Building Ground Swell was a great experience for me and my team. We have been looking for the right company who could grow what we have built, take great care of our employees and continue the same level of service to our customers. Ancero has a proven track record of growth and innovation. We knew we could trust them to nurture our company and turn it into great success story.”
Tinel and Kurt Kwart founded Ground Swell in 2001. Founded in 1999, Ancero serves small to mid-sized business from the Mid-Atlantic through the Northeast Corridor.
In an interview with NJ Tech Weekly in September, Boyer said Ancero has posted an annual growth rate of between 8 to 12 percent.
Ancero currently has about 1,100 clients and 45 employees located at the company’s Mount Laurel office and in Philadelphia, with the majority of them in the Mount Laurel location. Ground Swell has 10 employees. “We intend to keep all their team members,” an Ancero spokesperson told us. Ground Swell will become part of the Ancero brand, she added.