MSP M&A: Thrive Acquires Microsoft Partner Storagepipe

by Ty Trumbull • Apr 26, 2023

Thrive, an MSP backed by private equity firm Court Square Capital Partners, has acquired Storagepipe, a cloud, data protection, managed services, and cybersecurity provider, for an undisclosed amount.

This is technology M&A deal number 114 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.

About Thrive and Storagepipe

Thrive, founded in 2000, is based in Foxborough, Massachusetts. The company has 483 employees listed on LinkedIn. Thrive’s areas of expertise include managed and outsourced IT services, hosted cloud services, help desk support, on-site engineering, strategic technology consulting, disaster recovery, business continuity planning, professional services, compliance and regulatory services, security, hybrid cloud, cybersecurity, DRaaS and fintech.

Storagepipe, founded in 2001, is based in Toronto, Ontario. The company has 37 employees listed on LinkedIn. Storagepipe’s areas of expertise include Online Backup, High Availability, Compliance, Archiving, Broadest OS and Application Support, disaster recovery as a service, veeam, Cloud storage, Replication, cloud backup, backup and recovery, Veeam Partner, Cyber security, backup as a service, and veeam cloud connect.

Storagepipe’s IT infrastructure services are delivered from data centers in Canada, the United States, and the United Kingdom. The company is a Microsoft Cloud Service Provider with an extensive portfolio of Microsoft 365 services.

The acquisition will expand Thrive’s global presence while allowing Storagepipe clients to leverage Thrive’s next-generation managed Cybersecurity and Cloud services, all powered by a proprietary automation platform, the company said.

Thrive Acquires Storagepipe: Executive Comments

Rob Stephenson, CEO, Thrive, commented:

“Thrive is excited to welcome Storagepipe to help accelerate our rapidly expanding international footprint, especially in Toronto as a key Financial Services Hub. Storagepipe’s growing customer base across multiple industries in the Enterprise, Mid-Market and SMB will add tremendous value to Thrive’s Managed Services, Cloud and Cybersecurity offerings in the Canadian market.”

Steven Rodin, CEO and president, Storagepipe, said:

“Storagepipe is proud to have delivered highly flexible and responsive BaaS, DRaaS and Managed Services for 20+ years with outstanding value and service using state-of-the-art technology. We are excited to join Thrive and expand its NextGen portfolio with our innovative and extensive Cloud and Disaster Recovery solutions that focus on trust, responsiveness, reliability and scalability.”

Thrive’s M&A Growth

Storagepipe is Thrive’s sixth acquisition in 2022 and its third acquisition outside of the United States since 2021.

In November 2022, the company acquired UK-based IT support company Custard Technical Services for an undisclosed sum.

Thrive’s US-based deals involved Edge Technology Group, SouthTech, Preemo and DSM.