Nexus IT (Salt Lake City, UT) secures a commitment for a $60 million growth investment from Metropolitan Partners (New York) to scale its founder-led, values-driven MSP/MSSP platform through strategic acquisitions in healthcare, finance, and legal sectors nationwide.
Salt Lake City, Utah — June 10, 2025
Nexus IT, the Salt Lake City-based managed IT and cybersecurity firm known for its high-touch service and founder-led vision, announced today a $60 million capital commitment from New York-based private investment firm Metropolitan Partners Group that was founded in 2008.
The deal, developed in partnership with Diatonic Healthcare, enables Nexus IT to acquire and integrate like-minded managed service providers (MSPs) across the U.S.—particularly those serving highly regulated sectors such as healthcare, finance, and legal. The growth investment is a three-year committed capital private credit debt facility based on company performance, with a minimal equity conversion.
The investment will accelerate Nexus IT’s nationwide growth strategy, fueling its acquisition of culturally aligned managed service providers (MSPs) that share its vision of exceptional client service and operational excellence—specifically in highly regulated industries such as healthcare, finance, and legal.
This capital commitment marks a pivotal milestone in Nexus IT’s journey to build a next-generation M&A platform—one that stands apart from conventional investor rollups. Rather than pursuing scale at all costs, Nexus IT is expanding through a founder-led, mission-aligned approach focused on long-term value creation, cultural fit, and client-centric innovation. Nexus IT was founded in 1998 in Park City, Utah.
“The capital from Metropolitan Partners Group enables us to grow with intention—not just faster, but better,” said Earl Foote, Founder and CEO of Nexus IT. “We’re not chasing volume. We’re building a platform rooted in shared values, leadership continuity, and a belief in our Mission that the IT experience should be as exceptional as the technology itself.”
Backing a Values-Based M&A Model
In contrast to many MSP consolidators driven purely by financial engineering, Nexus IT’s strategy emphasizes leadership continuity, cultural fit, and sustainable value creation. The company plans to deploy the investment to complete several near-term acquisitions, with a goal of establishing a national footprint over the next three years.
Metropolitan Partners Group—a $3.1 billion investment firm with deep experience in the lower middle market—brings more than just funding. Its operational support and flexible capital model align closely with Nexus IT’s long-term outlook.
“We are excited to partner with Earl and his team to grow a market-leading MSP,” said Richard Lin, Managing Director at Metropolitan. “Nexus has built a scalable platform with a clear focus on purposeful growth and exceptional execution. It’s exactly the kind of founder-led company we look to back.”
Momentum from Strategic Visibility and Industry Recognition
Today’s announcement follows a year of accelerating momentum for Nexus IT. In early 2024, the company gained national visibility as the Acronis #TeamUp delivery partner for the Utah Jazz, supporting the NBA team’s cybersecurity operations. Nexus IT has also been recently recognized by Inc. 5000, CRN MSP 500, and the Utah Fast 50 for its consistent performance and commitment to service.
“We’re building something different—an MSP platform where people, performance, and purpose all carry equal weight,” said Foote. “That vision is now backed by the right capital, the right partners, and the right timing.”
About Nexus IT
Founded in 1998, Nexus IT provides managed IT and cybersecurity solutions to businesses in compliance-heavy sectors. With a reputation for exceptional service and a people-first culture, the company is redefining what it means to be a trusted technology partner in today’s risk-conscious world. It is commitment to delivering secure and resilient technology environments for its clients.
About Metropolitan Partners Group
Metropolitan Partners Group is a private investment firm that provides capital and operational support to lower-middle-market companies. Since its founding in 2008 the firm has deployed over $3.1 billion across more than 160 transactions. Learn more at www.metpg.com.
About Diatonic Healthcare
Diatonic Healthcare is a Miami-based firm that builds and scales tech-enabled businesses in healthcare and regulated IT. Learn more at www.diatonichealthcare.com.
