The strategic and specialized acquisition is the third in six months for Fulcrum
Fulcrum IT Partners (“Fulcrum”) announces the acquisition of Canadian IT services leader Stoneworks Technologies, which has been providing IT consulting, implementation, and integration services for various platforms and solutions to Canadian-owned businesses since 2001.
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With this transaction, Fulcrum completes its third acquisition of 2023 and increases its geographic presence throughout all of Canada. Additionally, Stoneworks’ strong customer portfolio of departments and agencies within the Canadian Federal Government and other clients in the public sector are welcomed, expanding the global IT service provider’s vertical specialization in the public sector.
Based in Ottawa, Canada, Stoneworks has grown its business to over $120M in annual revenue over the past 20 years. The team of 25 employees builds and manages resilient and reliable infrastructure for more than 500 corporations and government agencies in Canada. Its preferred technology partners include vendors Cisco, Dell, Hitachi, HPE, and VMware.
As part of Fulcrum’s “land and expand” acquisition model, Stoneworks Technologies maintains its brand, and the provider’s CEO, Jody Burton, joins the Fulcrum IT Partners Executive Leadership Team (ELT). “We are excited to join the Fulcrum family and build on Stoneworks’ specializations and excellence in engineering and customer experience,” says Burton. “I look forward to working with the Fulcrum leadership team to bring even more business insights and IT services to our portfolio of customers.”
“Stoneworks is an incredible addition to the platform we are building at Fulcrum,” notes Kyle Lanzinger, President, U.S. & Canada of Fulcrum IT Partners. “Their trusted relationships with the Canadian government and networking capabilities will help create a stronger Canadian presence for our consumption and Fulcrum Titanium cybersecurity-as-a-service offerings. Just as exciting is bringing iON’s top-tier cybersecurity capabilities to Stoneworks’ customers as we build a unified Canadian solution offering.”
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“With over a million SMEs in Canada, the opportunity for growth and the increasing demand for digitization and new technologies presents a perfect landscape for Stoneworks and Fulcrum to help Canadian businesses optimize, serve, and scale,” notes Kelly Carter, Chief Strategy Officer of Fulcrum IT Partners. Fulcrum’s vertical-led solutions are designed to solve the most challenging business outcomes, with services and specializations around managed cybersecurity, cloud, consumption, and everything as a service (XaaS). “Helping businesses use technology to achieve better business outcomes is why we’re here and what we do best,” notes Carter. “Jody and the entire Stoneworks’ team bring another wave of incredible depth of market and technical knowledge to our team.”
“With the acquisition of Stoneworks, Fulcrum will continue its mission to deliver positive customer outcomes through a comprehensive portfolio of cybersecurity services. This acquisition allows Fulcrum to build upon our success and grow beyond $1B in revenue by the end of 2023. We are excited to bring together the best of both organizations and create more value for our customers locally and worldwide,” notes Mark Lee, Global President of Fulcrum Titanium.
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