Deft, a comprehensive supplier of data center and managed cloud services, was bought by Summit, a major provider of virtual servers and cloud-based application hosting in the United States and Canada. By merging Deft’s data center and network services portfolio with Summit’s experience in cloud hosting, the merged company says it can better serve a wide range of clients as their demands for operational support and IT infrastructure change.
Deft was formerly called ServerCentral Turing Group (SCTG). As a managed service provider for cloud services, networks, and data centers, the company completed a comprehensive rebranding project including a name change in the summer of 2020. According to Deft itself, the name change was reflecting Deft’s dedication to providing personal touch to each client experience and helping its clients with its key business areas, which included managed services, cloud consulting, public, private, and hybrid cloud services, and data center services. Financial terms of the acquisition by Summit were not disclosed.
“Together, Deft and Summit share a unified vision for the future of IT services – a future where innovation, security, and customer-centric solutions lead the way,” said Summit CEO Warren Patterson. “This is a fusion of strengths, not just an acquisition.”
“There’s no secret plan to alter Deft’s operational procedures,” added Mr. Lowe. “Our customers now know and love our hands-on approach – it just has more hands.”
After acquiring Deft, Summit has now successfully executed three acquisitions in the last 18 months, all with the support of Silver Oak Service Partners. In 2022, Summit expanded its range of services to include server hosting, application hosting, colocation, hosting for HIPAA compliance, backup, and disaster recovery by acquiring Tech Commandos and Handy Networks.
Private Equity: Silver Oak
Deft partners and co-founders Jordan Lowe, Daniel Brosk, and Eric Dynowski will become members of the Summit leadership group while keeping a sizable ownership position in the company. Along with Mr. Brosk and Mr. Dynowski, Jordan Lowe would become a vital part in making sure that Deft’s customers have a smooth transition and a consistent experience when they join Summit. Jordan Lowe will be joining Summit’s Board of Directors.
Silver Oak, a lower middle market private equity company with its headquarters in Evanston, Illinois, specializes in investments in the business, consumer services, and healthcare sectors. In addition to completing more than 25 platform investments and 100 add-on acquisitions since its founding, Silver Oak has raised $1.1 billion in cash across four funds. Currently, $500 million in investments are being made by Silver Oak from its fourth fund.
“We are excited to partner with the leadership of Summit and Deft and support the combination of two highly talented teams,” said Silver Oak Partner Wade Glisson. “By combining their best practices, the two companies will build a unique platform that is ready for rapid expansion.”
