Ensono acquired by KKR for a reported $1.7bn

Hybrid IT services firm was first acquired in 2015 for just $190m as part of a carve-out

Ensono has sold up to investment giant KKR in a deal worth a reported $1.7bn.

Hybrid IT services firm Ensono claims KKR's technology experience and resources will help it achieve "new heights" in the managed services industry for medium and large enterprises.

The deal will see KKR acquire the MSP business from existing investors Charlesbank Capital Partners and M/C Partners. Ensono claims the deal is expected to close within the next 60 days and will be financed through KKR's Americas X11 fund.

Financial terms were not disclosed, but Reuters reported earlier today that the deal is worth $1.7bn including debt.

KKR is no stranger to investing in managed services companies. It holds existing stakes in US based MSSP Optiv and licensing giant SoftwareOne and also invests in IT vendors including Darktrace, Exact, Epicor and Cherwell.

Ensono claims the investment follows several years of high growth, including a "robust" financial 2020 and its recent acquisition of UK-based cloud native consultancy Amido.

Ranked #58 in CRN's VAR 350 with UK revenues of £76.4m, the AWS and Microsoft partner was originally acquired by Charlesbank Capital Partners and M/C Partners for just $190m in 2015 as part of a carve-out from Acxiom.

Jeff VonDeylen, CEO of Ensono said: "Our initial investors played an important role in helping us establish our business and brand and funding our growth. With the support of KKR, we will continue to grow and invest in our future as we drive innovation to meet the changing needs of our clients. We are fortunate to be in an industry where the need for our services has not only grown but diversified into exciting new areas of potential growth."

"Digital transformation across industries is driving an increased need for comprehensive service providers to help simplify IT infrastructure management for enterprise clients," added Webster Chua, partner at KKR. "Ensono is a proven leader in delivering hybrid solutions for clients with complex IT environments, and we are thrilled to support the Ensono team on its next phase of growth and development."