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Truesource, An Onpoint Group Company Acquires Solutions Management, Inc.

Aug 11, 2022•almost 3 years ago

Acquiring Company

TrueSource

Acquired Company

Solutions Management

Description

TrueSource, an OnPoint Group Company and the national leader in critical facility maintenance for retailers and property managers, announced the acquisition of Solutions Management, Inc (SMI), known for their expertise in disaster recovery, facility maintenance and management. Based in Long Island, NY, both businesses are focused on simplifying challenges of the retail industry for new and current clients, including more than half of the top U.S. 100 retailers. Together they will be able to provide an even greater range of capabilities to more clients nationwide.

Company Information

Company

TrueSource

Location

Rhode Island

About

TrueSource, an OnPoint Group Company, has been the first call for retailers and property managers in need of critical facility maintenance for more than fifty years. A trusted partner to more than half of the top U.S. 100 retailers, TrueSource has built a nationwide network of qualified service advisors supported by more than 25,000 nationwide affiliates for the skilled trades of manual doors & locks, commercial doors & docks, glass & panic hardware, plumbing, and custom deep cleaning & floorcare. Helping retail and facility managers navigate challenges while meeting customer expectations, TrueSource’s service professionals utilize a tech-enabled service platform ensuring faster response times and first-trip resolution to maximize safety and uptime. For more information, visit www.truesource.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed