Harvest Partners, a prominent New York-based private equity firm, has announced the acquisition of Service Express, a leading provider of post-warranty data center maintenance services. The acquisition, completed by funds managed by Harvest Partners, marks a significant addition to Harvest’s portfolio, emphasizing their strategic focus on growth-oriented companies. Service Express, headquartered in Grand Rapids, Michigan, will continue to be led by CEO Ron Alvesteffer and his management team, who will also retain significant ownership in the business. The financial details of the transaction remain undisclosed.
Service Express stands out in the data center maintenance industry by offering third-party, post-warranty support for over 4,000 customers. Their value proposition is built on providing services that are both faster and more cost-effective compared to Original Equipment Manufacturers (OEMs) for maintaining and extending the lifespan of critical data center equipment. This acquisition by Harvest Partners Inc. signals a strong vote of confidence in Service Express’ business model and its potential for further expansion.
Ron Alvesteffer, CEO of Service Express, expressed enthusiasm about the new partnership, stating, “After a great partnership and successful run with Pamlico, we are excited to partner with Harvest as we move towards our next phase of growth and expansion. Harvest’s track record of aligning with the strategic growth plans of their management teams and the emphasis they put on people, culture and systems to support that growth really stood out to us.” He further added, “Service Express is poised to build on the momentum created with Pamlico and accelerate that into expanding our office footprint and market penetration as together we create more jobs and opportunities while continuing to provide best in class customer service to our valued customers. The resources and expertise that Harvest brings to our team will be key as we execute on our plan moving forward.”
Jay Wilkins, Chief Operating Officer of Harvest Partners, also commented on the acquisition, “Ron and his team have done an incredible job creating a market leader in the data center TPM industry. We look forward to providing additional financial and strategic resources to help them further build their market leadership.”
Stephen Carlson, Partner at Harvest Partners Inc., highlighted Service Express’ growth trajectory, stating, “We have evaluated every scale asset in the TPM space and Service Express is the fastest growing player in the industry.” Stephen Fessler, Principal at Harvest Partners, echoed this sentiment, adding, “Customers value Service Express’ customer-centric philosophy and commitment to service excellence, and we are thrilled to be partners with the Company through its next chapter of growth.”
The financial advisory roles for this transaction were handled by Rothschild & Co and William Blair for Pamlico and Service Express, and Moelis & Company and Harris Williams for Harvest Partners. Legal counsel was provided by Alston & Bird LLP for Pamlico and Service Express, and Kirkland & Ellis LLP for Harvest Partners. Following the acquisition, Jay Wilkins, Stephen Carlson, and Stephen Fessler from Harvest Partners will join Ron Alvesteffer on the Board of Directors of Service Express.
About Service Express: A Leader in Data Center Maintenance
Service Express, established in 1993, has become a leading third-party maintenance (TPM) provider specializing in hardware support for data center infrastructure. Their expertise covers mission-critical server, storage, and network equipment. Beyond post-warranty maintenance, Service Express offers a comprehensive suite of services, including hardware system solutions, sales and upgrades, OS support, IT asset recovery, and data center relocation. The company’s commitment to maintaining multivendor data center equipment has earned them a broad clientele, ranging from mid-to-large organizations worldwide, including key sectors such as hospitals, universities, manufacturing plants, financial institutions, government bodies, and Fortune 500 companies. For more detailed information, please visit www.serviceexpress.com.
About Harvest Partners: Investing in Middle-Market Growth
Founded in 1981 and based in New York, Harvest Partners Inc. is a distinguished private equity investment firm. The firm strategically focuses on middle-market companies within business services & consumer, healthcare, industrial services, and manufacturing & distribution sectors. Leveraging over 35 years of experience, Harvest Partners specializes in fueling growth in companies through both organic expansion and strategic acquisitions. Their investment philosophy emphasizes partnership with management teams to drive sustainable growth and value creation. To learn more about Harvest Partners, visit www.harvestpartners.com.
Alt Text: Harvest Partners Inc. logo representing their investment in Service Express and commitment to growth.
