GenNx360 Capital Partners LP is building on its experience in technology services with the October purchase of IT managed services provider Heartland Business Systems LLC from A&M Capital Opportunities Fund and eyeing add-on opportunities for the platform.

Little Chute, Wis.-based Heartland has 675 full time employees and more than 400 certified engineers. The company generates about $350 million in revenue and has more than 3,200 clients in the Midwestern U.S.

“We will be continuing to be active on the M&A front,” GenNx360 principal Peter White said.

Cybersecurity and cloud networking will be focal points for potential dealmaking. Heartland could also target companies specializing in applications.

Geographically speaking, Heartland could seek out deal partners in Texas; Midwestern states such as Indiana, Ohio or Michigan; and Tennessee and the Southeast, he said.

“We’re looking for more technology, more differentiated and more offerings and more recurring services, which plays to the mix and durability of revenue,” White said.

The investor, which tapped Moelis & Co. LLC for advice on the platform purchase, didn’t specify a range of revenue or Ebitda for potential targets for the business.

“We want to do transformative deals, but if the right target came along that had a very strategic capability that was in the right region and was a great fit, we would look at a smaller deal,” White said. 

New York-based GenNx360 typically makes equity investments between $25 million and $100 million.

MSPs have attracted investors such as Berkshire Partners LLC, Charlesbank Capital Partners LLC, Court Square Capital Partners LP, Revelstoke Capital Partners LLC and Omers Private Equity Inc.

A number of sponsors are exploring exits in 2025.

Editor’s note: The original, full version of this article was published Oct. 21, 2025, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a demo.