In the last year, we’ve seen threats become more elaborate and tactical as they leverage the latest technologies. In 2024, data breaches reached the second highest level on record, with 3,158 compromises on the year exposing the data of more than 1.3 billion people worldwide. This includes major breaches targeting the likes of AT&T exposing the information of more than 100 million people, and CrowdStrike leading to a global IT outage. With AI on the rise, we can only expect the severity and volume of these attacks to continue to increase.
Thrive Acquires Secured Network ServicesLeading global MSP/MSSP deepens presence and vertical industry knowledge in New England
Boston, MA, February 13, 2025 – Thrive, a global technology outsourcing provider for cybersecurity, Cloud, and IT managed services, today announced the acquisition of Secured Network Services (SNS), a leading New Hampshire-based IT provider for organizations across industries, including healthcare, non-profit, and municipal government. The acquisition will enable Thrive to enter the New Hampshire market to deepen its presence in New England, bringing its industry-leading global Security Operation Center (SOC) & Hybrid Cloud solutions to SNS’ customers.
Cyber regulations are continuing to get more complex across industries – for example, the Health Insurance Portability and Accountability Act (HIPAA) is facing several proposed changes to its Privacy and Security rules in 2025. With the acquisition of SNS, Thrive will deepen its vertical industry knowledge, ensuring healthcare, non-profit, and government customers are backed with the latest industry insights to navigate these challenging landscapes. Together, Thrive and SNS will enable customers in New Hampshire and beyond to have access to industry-leading resources and Thrive’s global high-touch 24x7x365 service mandate.
“SNS’ similar philosophy of providing the highest caliber of technical expertise and unwavering dedication to customers greatly resonated with us,” said Bill McLaughlin, CEO of Thrive. “Coupled with their deep vertical knowledge, SNS will ensure we continue delivering the best technology solutions to businesses across industries.”
This acquisition builds upon Thrive’s tremendous growth, having completed eleven previous acquisitions over the past two years, most recently acquiring Michigan-based Safety Net and North Carolina-based The Longleaf Network. Along with geographic expansion, Thrive also received a strategic investment from Berkshire Partners and Court Square Capital Partners to continue scaling the capabilities of the company.
“Our team is excited to accelerate our growth and enable our customers to have access to Thrive’s NextGen solutions,” Kevin M. Low, Founder & CEO at SNS. “Our mission of helping businesses get the most from their technology aligns seamlessly with Thrive’s dedication to delivering outsized ROI and the best technology outcomes for each customer. We look forward to advancing our capabilities to better help our customers navigate the complex IT landscape with Thrive’s partnership.”
To learn more about Thrive and its offerings, visit the website.
About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI). They accomplish this with advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow us on LinkedIn.
Contacts
Amanda Maguire
Bill McLaughlin Named Thrive’s New CEOLeading NextGen Managed Service Provider Ushers in New Era of Growth While Maintaining a Customer- and People-First Culture
Boston, Ma. – February 3, 2025 – Thrive, a global technology outsourcing provider for cybersecurity, Cloud, and traditional managed service provider (MSP) services, today announced the long-planned leadership transition elevating Bill McLaughlin into the CEO role, effective immediately. McLaughlin succeeds Rob Stephenson, who has led Thrive for nearly a decade. Under Stephenson, Thrive has attained industry prominence, earned a reputation for excellence, and delivered a compounded annual growth rate above 30%. Stephenson will remain onboard as a member of Thrive’s leadership team, particularly focused on supporting McLaughlin and driving the company’s M&A strategy.
“Bill came to Thrive over three and a half years ago with the plan to be my successor,” said Stephenson. “He has been running day-to-day sales and operations, is one of the most highly respected executives in our industry, and is responsible for much of Thrive’s success. It’s been a pleasure of a lifetime leading this company and there is nobody I would feel more confident in succeeding me than Bill McLaughlin. Under his leadership, Thrive will continue to set the pace for MSP and MSSP innovation and achievement.”
With more than 20 years of experience in the managed services industry, McLaughlin brings deep knowledge and understanding of IT, customer success, and go-to-market strategy. Prior to joining Thrive as President in 2021, McLaughlin held senior leadership positions at companies like Kaseya, Atlantic Tomorrow’s Office, and NER Data Products, where he oversaw customer success, sales initiatives, and M&A activity.
Throughout his time at Thrive, McLaughlin has partnered with leading organizations to ensure their digital transformations are secure, cost-effective, and future-ready. As President, he played a pivotal role in growing Thrive through acquisition – including the purchase of 11 companies over the past two years. Through its growth, Thrive has expanded the breadth and quality of its services, as well as its geographical footprint. The organization now has over 1,400 team members across the U.S., UK, Canada, and APAC regions.
In January, the company received a strategic investment from Berkshire Partners and Court Square Capital Partners, supporting growth and continued opportunity in the outsourced IT space. As CEO, McLaughlin will continue to invest in Thrive’s team and capabilities as they serve their customers with excellence.
“Thrive is redefining what it means to be a next-generation service provider – in terms of the solutions we deliver, the markets we serve, the problems we solve, and the way we take care of and upskill our people,” said McLaughlin. “While this is an exciting new chapter, our mission and vision remain the same: we’re going to keep delivering exceptional service and solutions to our customers, solving some of their most critical business problems – and we’re going to do it as a team.”
To learn more about open positions at Thrive, visit the careers page.
About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI). They accomplish this with advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow us on LinkedIn.
Thrive Contact:
Amanda Maguire
Strengthening Municipal Resilience Across Canada with Thrive Download Now
The City of Moose Jaw partnered with Thrive to modernize its backup and disaster recovery solutions, addressing the unique needs of Canadian municipalities. By replacing its outdated, on premises systems with Thrive’s managed services, including Veeam Backup, Office 365 Backup, and Warmsite DRaaS, the city achieved significant cost savings, improved operational efficiency, and ensured business continuity for its citizens.
The City of Moose Jaw, located in southern Saskatchewan, Canada, has approximately 34,000 residents. Like many municipalities, it faces challenges balancing IT resources, ensuring efficient service delivery, and safeguarding critical data. When the city’s legacy backup system became insufficient to meet its growing needs, Ryan Nelson, Information Services Manager for the City of Moose Jaw, sought a partner who could provide a scalable, reliable, and cost-effective solution.
Why Thrive Was Chosen
The city’s previous backup system relied on outdated software and hardware, which was costly to maintain and offered limited functionality. Nelson wanted a partner, not just a vendor—someone who could provide a hands-on relationship, offer expertise, and ensure a seamless transition to a modern solution. Thrive stood out as the ideal choice.
For years, Moose Jaw’s IT team relied on a system that required constant attention and offered limited functionality. Backups were stored locally and replicated at a nearby site with no warm recovery capabilities, and the system placed a significant maintenance burden on the team. Nelson knew the city needed a company that could deliver more than just technology; they needed expertise and a relationship they could count on.
“I wanted to move away from being dependent on aging hardware and manual processes,” Nelson said. “But more importantly, I wanted a partner—not a corporation—who would understand our specific challenges and help us achieve our vision. Thrive stood out because they could deliver exactly what we needed and provided a personal, trustworthy approach,” said Nelson.
Thrive proved to be the ideal fit for the City of Moose Jaw by offering a hands-on, tailored service model. Their ability to provide a fully managed solution eliminated the need for the city’s IT team to manage complex licensing or invest in additional training.
Solutions Delivered
Thrive provided a comprehensive suite of solutions to modernize the City of Moose Jaw’s backup and disaster recovery processes. The cornerstone of the implementation was Veeam Backup and Recovery, a turnkey solution that allowed the city to securely back up its data while enabling fast, local recovery when needed. Thrive also implemented robust retention policies to manage and protect the city’s growing Office 365 environment, including email and SharePoint, ensuring data security across cloud-based workloads.
In addition to backups, Thrive delivered Disaster Recovery as a Service (DRaaS), providing the city with a warm site ready to ensure continuity during a disruption. This solution integrated seamlessly with the city’s existing VPN infrastructure, offering secure and reliable access to critical systems during continuity events.
“Thrive’s ability to guide us through every transition step was invaluable,” Nelson shared. “They provided clear documentation, answered all our questions, and ensured the solutions worked perfectly within our environment. We went from an outdated, labor-intensive system to a modern, hands-off approach almost overnight.”
With Thrive’s help, the City of Moose Jaw now has a fully managed solution that addresses its backup needs and ensures readiness for future challenges.
Thrive’s Impact
Since partnering with Thrive, the City of Moose Jaw has seen transformative results. The IT team no longer spends excessive time managing backups, allowing them to focus on strategic priorities.
“We’re no longer spending time babysitting backups or troubleshooting outdated systems. Instead, we’ve gained a reliable solution that meets our needs and has saved us money,” Nelson shared.
Business continuity has also improved significantly, ensuring the city can maintain operations in any scenario. The city now has peace of mind knowing that its data and services are protected, even during potential disruptions.
Looking ahead, Moose Jaw is also working with Thrive to fortify its cybersecurity. This continued collaboration highlights the
trust and value Moose Jaw places in Thrive’s expertise and solutions.
“Thrive has our back. Their solutions don’t just work—they free us to focus on what’s most important while knowing our data is secure and accessible.” ~ Ryan Nelson, City of Moose Jaw Information Services Manager
About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI). They accomplish this with advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow us on LinkedIn.
Why 2025 Could Be The Most Disruptive Year For CEOs In DecadesFor Thrive, which has acquired over 20 companies, the focus on cultural and operational alignment has been key to its success, with interest rates being only a part of the equation.
“We’ve learned that M&A is fundamentally about creating value by integrating businesses in a way that enhances the whole,” Rob notes. “Our approach is proactive. We map out cultural and operational changes before we even approach the deal table. If the acquired company doesn’t share our vision, the deal won’t work, no matter the interest rate.”
Educate, Prepare, & Mitigate: The Keys to Unlocking Cyber ResilienceThe best way to mitigate threats is to ensure that the company’s greatest asset – its employees – are on the lookout for suspicious activity and can easily identify things like phishing emails. However, time and again, it’s been proven that people are susceptible to having their natural inclinations and biases exploited – which is why investing in employee training is absolutely essential to mitigate cyberattacks.
Thrive Receives Strategic Investment from Berkshire Partners and Court Square Capital PartnersHeadquartered in Foxborough, Massachusetts, Thrive is an IT managed services provider (“MSP”) and managed security services provider (“MSSP”) that offers outsourced IT and cybersecurity services to mid-market, small enterprise, and sophisticated SMB clientele across a number of industries including financial services, healthcare, professional services, and government. With 15 acquisitions since 2020, Thrive has grown into one of the leading global technology outsourcing firms and in 2024 was again named to CRN’s Managed Service Provider 500 list, which recognizes the top technology providers and consultants in the MSP space.
Thrive Receives Strategic Investment from Berkshire Partners and Court Square Capital PartnersInvestment will unlock further growth, enhancing Thrive’s position as an industry-leading NextGen MSP/MSSP
Foxborough, Ma. – January 14, 2025 – Thrive (“the Company”), a provider of cybersecurity, cloud, and IT managed services, today announced that it has reached a definitive agreement for a strategic investment from Berkshire Partners (“Berkshire”) and existing investor Court Square Capital Partners (“Court Square”). Financial terms of the transaction were not disclosed.
Headquartered in Foxborough, Massachusetts, Thrive is an IT managed services provider (“MSP”) and managed security services provider (“MSSP”) that offers outsourced IT and cybersecurity services to mid-market, small enterprise, and sophisticated SMB clientele across a number of industries including financial services, healthcare, professional services, and government. With 15 acquisitions since 2020, Thrive has grown into one of the leading global technology outsourcing firms and in 2024 was again named to CRN’s Managed Service Provider 500 list, which recognizes the top technology providers and consultants in the MSP space.
“Over the past decade, we’ve built a market-leading company with a wide array of technology capabilities. With the new strategic investment from Berkshire and Court Square, we will continue scaling to meet the complex needs of the industries we serve,” said Bill McLaughlin, President of Thrive. “We are excited to partner with two firms that understand our business and mission of enabling our customers to increase business efficiencies through standardization, scalability, and automation to deliver exceptional technology returns on investment.”
“Thrive’s impressive leadership team has built a remarkable organization, and we are thrilled to begin our partnership alongside Court Square,” said Candice Corvetti, Managing Director at Berkshire Partners. “The complexity of the IT and cybersecurity challenges that companies face today have never been greater,” added Marcus Dodyk, Principal at Berkshire Partners. “These tailwinds and the need for effective IT and cybersecurity services will continue to create opportunities for exceptional, customer-first MSP/MSSPs like Thrive.”
“We believe in the continued success of Thrive, which has executed against its growth objectives as the Company continues to scale both organically and inorganically,” said Matt Dennett, Partner at Court Square. “Our additional investment underscores our belief in the Company,” added Jeff Vogel, Managing Partner at Court Square. “We are thrilled to continue working with Thrive’s exceptional management team and partner with Berkshire, who brings a wealth of IT investing experience and expertise.”
“At each investor stage through Thrive’s evolution we’ve more than tripled the scale and capabilities of the Company. This is a truly world class company and management team that is positioned to do the same in the next chapter,” finished Rob Stephenson, CEO of Thrive.
Debt financing for the transaction is being provided by a group of lenders, agented by Alliance Bernstein. Lazard and Moelis acted as financial advisors to Thrive. Guggenheim served as a financial advisor to Berkshire Partners.
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About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering outsized technology returns on investment (ROI). The Company accomplishes this by offering advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow Thrive on LinkedIn.
About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity. The firm’s private equity team invests in well-positioned, growing companies across business & consumer services, healthcare, industrials, and technology & communications. Berkshire is currently investing from its Fund XI, which held its final closing in 2024 with approximately $7.8 billion in commitments. Since inception, Berkshire Partners has made more than 150 private equity investments and has a strong history of collaborating with management teams to grow the companies in which it invests. The firm’s public equity group, Stockbridge, founded in 2007, manages a concentrated portfolio seeking attractive long-term investments. For additional information, visit www.berkshirepartners.com.
About Court Square
Court Square is a middle market private equity firm with over 40 years’ experience in the industry. Since 1979, Court Square has completed over 245 platform investments and is focused on helping Founders, Families, and Manager-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. As of June 2024, Court Square has $8.9 billion in assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.
Media Contacts:
Thrive
Amanda Maguire
Berkshire Partners
Greg Winter
Court Square
Max Rayden
L&Q Transforms Connectivity Across Housing Portfolio with Thrive’s Scalable 4G/5G Solution Download Now
L&Q, one of the largest housing associations in the UK, partnered with Thrive to enhance network reliability and scalability across their extensive portfolio of over 105,000 homes. Thrive’s tailored solution seamlessly integrated with L&Q’s existing Meraki infrastructure, enabling faster deployment, cost savings, and improved connectivity for residents and staff.
L&Q is a leading housing association in the UK, owning and managing over 105,000 homes that house approximately 250,000 residents. To support its mission of delivering high-quality housing and infrastructure services, L&Q required a robust and scalable connectivity solution. Thrive provided an innovative 4G/5G solution that addressed the challenges of managing geographically dispersed properties, ensuring consistent and reliable network access across all sites.
Why Thrive Was Chosen
Managing a broad portfolio of properties across remote locations presented L&Q with connectivity challenges. They sought to standardise their network infrastructure while enhancing operational efficiency and delivering seamless connectivity across all sites.
L&Q needed a solution that integrated seamlessly with their existing Meraki infrastructure to minimise disruption and ensure compatibility. The ideal solution had to be scalable, reliable, and efficient without requiring a complete overhaul of their current setup.
L&Q selected Thrive due to its proven track record and existing partnership. Thrive’s team demonstrated deep knowledge of L&Q’s infrastructure and delivered tailored solutions aligned with their operational needs. “Thrive’s expertise and familiarity with our systems made them the natural choice for this project,” said an L&Q representative.
Strategic Deployment
Thrive implemented Meraki MG21 and MG41 mobile gateways to deliver robust 4G/5G connectivity across L&Q’s dispersed portfolio. The gateways were chosen for their compatibility with L&Q’s existing Meraki infrastructure, ensuring minimal disruption during deployment.
Thrive supported procurement, provided initial setup guidance, and ensured the solution met L&Q’s requirements. While L&Q’s in-house team carried out physical installations, Thrive’s technical expertise facilitated a smooth and efficient rollout.
During implementation, Thrive identified connectivity “dead zones” and worked with L&Q to optimise device placement, overcoming limitations caused by weak cellular coverage. They also helped L&Q navigate building regulations and mounting challenges to ensure proper gateway installation.
Thrive’s Impact
Thrive’s solution addresses the housing sector’s challenges of managing geographically dispersed properties. Thrive supports L&Q’s mission of delivering consistent and reliable services to residents by providing scalable connectivity that integrates seamlessly with existing infrastructure.
In the housing sector, where connectivity is vital for efficient operations, Thrive’s expertise in network infrastructure and its ability to provide tailored solutions make it an invaluable partner for large housing associations. Thrive’s solution has significantly improved connectivity across L&Q’s remote offices. Deploying network infrastructure quickly without requiring extensive fiber installations has minimised delays in bringing new sites online. The transition to a 4G/5G solution reduced the need for expensive leased lines, delivering considerable cost savings. Thrive’s scalable solution allows L&Q to adapt to evolving connectivity needs, ensuring long-term operational efficiency.
“The scalability and reliability Thrive delivers allow us to focus on our mission while knowing our infrastructure is in capable hands,” said an L&Q representative. “Their ability to understand our unique challenges has been instrumental in the success of this project.”
“Thrive’s expertise has been critical in enhancing our network capabilities, ensuring seamless connectivity for residents and staff while reducing costs and improving efficiency.” ~ L&Q Representative
About Thrive
Thrive delivers global technology outsourcing for cybersecurity, Cloud, networking, and other complex IT requirements. Thrive’s NextGen platform enables customers to increase business efficiencies through standardization, scalability, and automation, delivering oversized technology returns on investment (ROI). They accomplish this with advisory services, vCISO, vCIO, consulting, project implementation, solution architects, and a best-in-class subscription-based technology platform. Thrive delivers exceptional high-touch service through its POD approach of subject matter experts and global 24x7x365 SOC, NOC, and centralized services teams. Learn more at www.thrivenextgen.com or follow us on LinkedIn.
Thrive Spotlight: Rose Payano – Director, Project DeliveryWelcome back to another installment of our “Thrive Spotlight” blog series.
Our featured employee is Rose Payano, Director, Project Delivery. In Rose’s position as a Director within the PMO team, she plays a critical role leading Managers on the Project Delivery team and their respective Project Managers. Rose believes in empowering teams to excel, encouraging innovative thinking, and sharing knowledge that elevates everyone’s skills. She actively contributes to team-wide initiative and collaborates cross functionally to enhance our operational processes. She also oversees a select number of projects, stepping in whenever necessary to assist the team whenever possible.
Rose lives in the Sunshine State and is based out of Miami, FL. Outside of work, Rose enjoys reading, running, and spending time with her fiancé, Charlie. She also enjoys being with family, finding new places to eat and new places to explore. Rose recently started traveling, which she really enjoys as a new hobby.
Hi Rose! Can you tell us about your background and how you came to Thrive?
I joined Thrive five and a half years ago, crazy to think it’s been almost six years now. I initially started in the procurement team based out of the NY office. Around a year and a half later I then transitioned to the PMO and have since dedicated myself to this field. Project Management and process improvement is what I am most passionate about.
Where did you go to school or get training?
After serving four years in the Marine Corps, I pursued a Bachelor’s degree in Information Systems Security in college where I grew my passion for IT. I started at a helpdesk in Michigan, and I progressed to become a Team Lead Manager with an average of 20 direct reports.
What do you most enjoy about working for Thrive?
I find fulfillment in contributing to internal projects, collaborating with colleagues, and championing transformative initiatives. It’s been inspiring to witness Thrive’s remarkable growth over the years. I cherish the people the most – their dedication, collaborative spirit, and hard work truly make Thrive a special place.
Are there any recent exciting projects at Thrive you can tell us about?
Recently, I have been focused on developing a comprehensive training program for new hires within the PMO, alongside developing and continuously revising Thrive’s master project plan for our teams use. It has been incredibly rewarding to train and empower our new team members for success, while also ensuring our Project Managers are well-equipped for their roles.
“My time at Thrive has been incredibly transformative, playing a pivotal role in my professional growth. I have a genuine appreciation for the collaboration and camaraderie among colleagues, and it’s inspiring to witness the company’s remarkable journey of growth and evolution.”
Are you interested in learning more about Thrive? Click here!
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