The 20 MSP pushes forward with bold growth plans – marks 39th acquisition and expands service capabilities on West Coast.
The 20 MSP, a leading managed service provider (MSP) with offices nationwide, today announced its acquisition of Cobalt IT, Inc. (Owners – Steven Hobe and Barry Jeung), a solutions provider based in the San Francisco Bay Area.
Founded in 2005, Cobalt IT began as a one-person operation and quickly grew into a reputable service provider. As Cobalt IT looked to expand its service offerings and add scale, the company joined The 20’s peer group and growth platform, The 20 MSP Group. The 20’s model and collaborative approach to MSP growth empowered Cobalt IT to scale operations, while adding crucial talent and resources to strengthen its competitive position in the market.
“Cobalt’s trajectory from a tiny start-up to a thriving provider is a lesson other IT business owners would do well to study,” said Tim Conkle, The 20 MSP’s founder and CEO. “Even before joining our peer group, Steven and Barry were on the lookout for ways to improve operational efficiency and evolve their portfolio of offerings. Becoming a member of The 20 gave them a proven business model to bring their big ideas to life – and the results speak for themselves. I’m excited to keep pushing forward with this talented group, bringing clients the sort of IT solutions that make a real and measurable difference.”
Hobe, Jeung, and key members of Cobalt IT’s leadership team will remain on board in new roles, furthering The 20’s commitment to minimal attrition and continued growth across the organization.
“The MSPs we’re buying are typically less focused on making an exit than they are on getting to the next level,” Conkle explained. “There is a ton of momentum going into these deals, and the owners we’re rolling up want to be a part of what we’re building. This continued involvement isn’t something we’ve forced; it’s a byproduct of how we’re approaching the entire M&A process.”
With a healthy pipeline of acquisition targets, The 20 is poised to continue its national expansion in 2025, deepening its geographic footprint while extending its reach in key markets. Conkle credits the company’s M&A success to its approach of ‘pre-aligning’ acquisition targets, ensuring that new partners fit seamlessly into The 20’s operational and cultural framework. “Our approach is rooted in the idea that true alignment has to be built, not forced – and we believe that making sure acquisition targets are on board before any deals are inked will be key to our success on the national stage.”
Pinecrest Capital Partners served as the exclusive financial advisor to The 20 MSP on the acquisition and associated financing.
About The 20 MSP
As a leading provider of managed IT services, The 20 MSP serves thousands of businesses nationwide, including single and multi-location organizations, providing each one with white-glove service, secure and streamlined IT infrastructure, and 24/7/365 support. We believe in building lasting relationships with clients founded on trust, communication, and the delivery of high-value services for a fair and predictable price. Our clients’ success is our success, and we are committed to helping each and every organization we serve leverage technology to secure a competitive advantage and achieve new growth. To learn more, visit the20msp.com.
About The 20 MSP Group
The 20 MSP Group is an exclusive consortium for Managed Service Providers (MSP) aimed at dominating and revolutionizing the IT industry with its standardized all-in-one approach. The 20’s robust RMM, PSA, and documentation platform ensures superior service for its MSPs’ clients utilizing their completely US-based Help Desk and Network Operations Center. Extending beyond proven tools and processes, The 20 touts a proven sales model, a community of industry-leading MSPs, and ultimate scalability. To learn more, visit the 20.com.
