How Thoma Bravo Partnered with Founder-Led ConnectWise to Transform the MSP Industry
Nov 30, 2023
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The podcast discusses the partnership between Thoma Bravo and ConnectWise, focusing on the importance of shared vision and relationships in business. It explores the significance of a good distribution model and selling to MSP partners. The speakers share their journey to ConnectWise, emphasizing the value of connections and partnerships. They also discuss the focus on partners, operational excellence, and automation, and express gratitude for educating people about ConnectWise.
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Quick takeaways
The partnership between Thoma Bravo and ConnectWise has resulted in impressive growth, diversification, and operational improvements, with future plans centered around operational excellence, cybersecurity, and hyper-automation.
ConnectWise's strong focus on community and its commitment to providing valuable experiences, thought leadership, training, and support to its partners have contributed to their operational efficiency, productivity, and overall success.
Deep dives
Cultivating Long-Term Relationships and Founder-Led Acquisitions
The podcast episode discusses the significance of building long-term relationships in business and provides a case study on how Toma Bravo partnered with ConnectWise, a leader in IT and security solutions, through a founder-led acquisition. The episode highlights the importance of adjusting to the seller's needs and succession planning in such acquisitions. It also emphasizes the value of ConnectWise's deep-rooted history in the MSP ecosystem, its focus on community and customer success, and its differentiated product experience. The partnership between Toma Bravo and ConnectWise has resulted in impressive growth, diversification, and operational improvements, with future plans centered around operational excellence, cybersecurity, and hyper-automation.
The Value of Community and the IT Nation Experience
ConnectWise places great emphasis on community and provides a valuable experience for its partners through the IT Nation. The community aspect within ConnectWise's franchise model allows partners to learn from each other, share best practices, and improve their businesses. IT Nation events, peer groups, and educational resources contribute to the success of ConnectWise's partners by offering thought leadership, training, and support. The strong focus on community enables ConnectWise to deliver on its vision and mission to help MSPs and TSPs become more operationally efficient, productive, and successful, ultimately benefiting both ConnectWise and its partners.
Operational Stewardship and Building for the Future
The podcast episode highlights the operational stewardship provided by Toma Bravo and the collaborative relationship between Toma Bravo and ConnectWise. Toma Bravo's expertise and network have been instrumental in supporting ConnectWise's growth and success. The conversation also highlights the integral role of David Weiss, the chairman of the board, in providing guidance and collaboration. ConnectWise's incredible growth under Toma Bravo's ownership has been driven by diversification, pandemic response, and a focus on operational excellence. Looking ahead, ConnectWise aims to continue its strategic focus on business management, unified management, cybersecurity, and hyper-automation to deliver value to its customers and accelerate growth.
Lessons in Persistence and Building Relationships
The podcast episode shares personal anecdotes about the persistence and relationship-building efforts employed by Toma Bravo during the ConnectWise acquisition process. Toma Bravo's dedication to fostering a strong relationship with ConnectWise and its willingness to go the extra mile, such as flying to Tampa for dinner, demonstrate the importance of trust and alignment between partners. The episode also highlights the significance of Toma Bravo's collaborative approach, where management teams are viewed as partners rather than simply employees. The strong bond between Toma Bravo and ConnectWise, along with the leadership of CEO Jay McGee, has contributed to the success and growth of ConnectWise under Toma Bravo's ownership.
ConnectWise is an industry-leading robust platform of software built for technology solutions providers (TSPs) to run their entire as-a-service business. Their solutions help managed service providers (MSPs) outsource their help desk, billing, and other IT services to small and medium-sized businesses so that they can focus on their products, not IT problems.
Thoma Bravo Partner Mike Hoffmann sits down with ConnectWise CEO Jason Magee to discuss their partnership and the importance of a shared vision when taking a founder-led business to the next level.