Ottawa, ON – January 28, 2020
– Fully Managed, a global managed service provider (MSP), today announced it has secured $25M in financing from Comerica Bank and BDC Capital. The funds will be utilized along with the previously announced $17M in private equity from Kayne Partners to accelerate organic growth and strategic acquisitions across North America.
“Fully Managed is pleased to partner with Comerica and BDC to support our capital requirements to keep pace with our rapid growth,” said Mark Scott, CEO of Fully Managed. “The company will continue to expand regionally through MSP acquisitions with a focus on US major market expansion in the next 2 years.”
Fully Managed has over 300-employees supporting over 1200 customers in the US and Canada across three lines of business:
- Managed Services – small and medium-sized businesses; multi-location enterprises;
- Senior Care – skilled nursing facilities and senior living;
- Enterprise Service Management - ServiceNow MSP to mid-market and enterprise.
The funding will be utilized to support growth and the following key initiatives: Customer Experience improvements through regional office expansion and build-out of FM OnDemand onsite support network to 1,000 technicians; GrandCentral 3.0 release and scaling of Remote ServiceNow Administration team to 200 certified professionals.
“Comerica is excited to support Fully Managed and its aggressive growth strategy through our new banking facilities,” stated Bryce Aikman, Canada Group Manager, Comerica Bank.
“The Growth and Transition team at BDC Capital has partnered with Mark in previous companies and we are excited to be working with Fully Managed as they continue their rapid growth across North America”, said Trevor Allibon, Managing Director, Growth and Transition Capital, BDC Capital.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $73 billion at Dec. 31, 2019, and celebrated its 170th anniversary in August 2019.
About BDC Canada
The Business Development Bank of Canada (BDC) is a Crown corporation wholly owned by the Government of Canada. Our mission is to help create and develop Canadian businesses through financing, venture capital and consulting services, with a focus on small and medium-sized enterprises. When entrepreneurs succeed, they make an irreplaceable contribution to Canada’s economy. Supporting them is in our national interest.
About Fully Managed
Fully Managed is a global managed service provider (MSP) for small and medium-sized enterprises and senior care communities. Our FM service management platform provides organizations with a complete solution to deliver 24×7 service desk, enterprise service management, automation, security, and digital transformation. We deliver ServiceNow-as-a-Service at a fraction of the cost with seamless implementation and ongoing maintenance. Our mission is Creating Peace of Mind that our customers’ technology will work exactly how
they need it to, when they need it to!
For more information, contact:
Aaron Bradley, VP of Marketing