Glendale-based IT and cybersecurity managed services company
River Run acquired
Alexssa, an IT services company based in West Bend.
Alexssa’s 13 employees will join the River Run team along with Alexssa owner Chris Wenzel, who will become River Run’s executive director of client retention and product management.
As part of the acquisition, River Run will add over 200 clients including 70 with managed services, the company announced today. Co-founded by Paul Riedl, Jr. in 1993, River Run has 70 employees and serves more than 1,000 businesses.
“(The acquisition) was a real Cinderella slipper for us in the fact that we’re both EOS traction companies, both companies are very client, service and family-focused and for Chris, he was really not going to sell Alexssa if it was a client grab and if his team wasn’t coming along for the ride,” said John Limbach, River Run chief operating officer.
Diversity in the company’s portfolio, which is heavy in the manufacturing and law firm sectors but also includes service industry clients, enabled the company to expand even through the tumult of the economy, Limbach added.
“We had a great first quarter and when the pandemic really came to fruition second quarter here in the United States, we were busier than ever through second quarter,” Limbach said. “We had our best revenue year in 2019 and we’re on pace to have our best revenue year without the acquisition in 2020.”
Limbach attributes company growth to businesses having a greater focus on security as they adapt to a work-from-home environment, and the uptick in cyberattacks during the pandemic.
“People have had to up their security game and I think the reality with over 5 million attacks now within the first half this year and up 15% from last year, is that you really have to budget now as a business, as an enterprise for cybersecurity,” Limbach said. “As if you were hiring another employee or hiring a sentry outside your business to protect you.”
