Annual MSP 501 Identifies Industry’s Best-in-Class Businesses Growing Via Recurring Revenue and Innovation
Magna5, a national provider of managed IT, cybersecurity and cloud-based services and a NewSpring Holdings Platform Company, is proud to announce that it has been named as one of the world’s premier managed service providers in the prestigious 2023 Channel Futures MSP 501 rankings.
Managed Service providers who are named on the list must pass a rigorous review examining organizational performance based on annual sales, recurring revenue, profit margins, revenue mix, growth, innovation and supported technologies.
“We greatly appreciate being recognized by Channel Futures as a best in class managed IT services and cybersecurity provider. We focus every day on earning the trust of our customers by providing high quality and responsive services,” said Bob Farina, CEO of Magna5. “We pride ourselves on our holistic and proactive approach to identifying opportunities for our clients which allows us to be a true business partner with our customers so they can focus on their own priorities and growth.”
Since its inception, the MSP 501 has evolved from a competitive ranking into a vibrant group of innovators focused on high levels of customer satisfaction at small, medium, and large organizations in public and private sectors. Many of the services and technology offerings of this group focuses on customer needs in the areas of cloud services, cybersecurity, network and server management, and data backup and recovery.
“The 2023 Channel Futures MSP 501 winners persevered through challenging times to become the highest-performing and most innovative IT providers in the industry today,” said Jeff O’Heir, Channel Futures senior news editor and MSP 501 project manager. “The MSP 501 ranking doesn’t award MSPs solely on their size and revenue. It acknowledges the business acumen, best practices and trusted advice they deliver to customers every day. They deserve the honor.”
“We extend our heartfelt congratulations to the 2023 winners, and gratitude to the thousands of MSPs that have contributed to the continuing growth and success of the managed services sector,” said Kelly Danziger, general manager of Informa Tech Channels. “These providers are most certainly driving a new wave of innovation in the industry and are demonstrating a commitment to moving the MSP and entire channel forward.”
About Magna5
Magna5, a NewSpring Holdings platform company, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced IT services to mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing, and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally. For more information visit www.magna5.com.
About NewSpring Holdings
NewSpring Holdings, NewSpring’s strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
About Channel Futures
Channel Futures is a media and events destination for the information and communication technologies (ICT) channel community. We provide information, perspective and connection for the entire channel ecosystem, including solution providers (SPs), managed service providers (MSPs), managed security service providers (MSSPs), cloud service providers (CSPs), value-added resellers (VARs) and distributors, technology solutions brokerages, subagents and agents, as well as leading technology vendor partners and communication providers.
Our properties include many awards programs such as the Channel Futures MSP 501, a list of the most influential and fastest-growing providers of managed services in the technology industry; Channel Partners events, which delivers unparalleled in-person events including Channel Partners Conference & Expo, Channel Futures Leadership Summit, Women’s Leadership Summit, the MSP Summit and Channel Partners Europe; and a DEI Community Group, our initiative to educate, support and promote diversity, equity and inclusion (DE&I) in the ICT channel industry. Channel Futures is where the world meets the channel; we are leading Channel Partners forward. More information is available at channelfutures.com.
Channel Futures is part of Informa Tech, a market-leading B2B information provider with depth and specialization in ICT sector. Every year, we welcome 14,000+ subscribers to our research, more than 4 million unique monthly visitors to our digital communities, 18,200+ students to our training programs and 225,000 delegates to our events.
