Niobrara Capital Partners LP on Wednesday, Sept. 16, announced the acquisition of Canadian IT managed services provider MSP Corp.

New York-based Niobrara didn’t disclose the financial terms of the transaction.

The Deal reported in October that MSP had retained Canaccord Genuity Corp. to explore a sale, with sources then saying that the company generated about $20 million in Ebitda.

Niobara said the acquisition will provide the firm with a compelling entry point into the North American managed services market, adding that it plans to deepen its footprint in Canada while pursuing growth opportunities that extend that platform into the U.S.

Montreal-based MSP operates a full-service platform supporting businesses in need of outsourced technology management. Founded in 1993, the company’s offerings span managed IT monitoring and support, managed cybersecurity, multicloud management, backup and disaster recovery and emerging data compliance and artificial intelligence.

Alfar Capital and Walter Capital Partners invested $100 million into MSP and merged the business with Groupe Access in May 2023. Prior shareholder BDC Capital Inc. maintained a minority stake.

Founded in 2024 by seasoned tech investors Chip Schorr and Todd Bradley, alongside former U.S. Secretary of State Mike Pompeo, Niobrara seeks to partner with founders, families and Fortune 500 companies looking for growth opportunities and new developments.

The firm made a debut investment in Polar Semiconductor LLC, a Bloomington, Minn.-based semiconductor manufacturer, in April 2024 before officially announcing its launch that June.

Wafra Inc. said last January that its private equity strategy Capital Constellation Inc. had invested an undisclosed amount in Niobrara to support the firm’s investments in midsize business-to-business technology companies in the U.S. and Europe.

Westmount, Quebec-based Alfar targets investments in manufacturing, technology, business services and industrial distribution.

Its ACPII closed in September 2025 at C$60 million ($43.1 million), including up to C$20 million from Fonds de Solidarite FTQ, the firm’s first institutional investor. The fund’s first platform investment was Québec roofing contractor Couverture Montréal-Nord in May.

Westmount, Quebec-based Walter manages an investment firm and business ecosystem, with teams dedicated to public investments, private equity and investment initiatives primarily in the hospitality and food sectors.

Montreal-based BDC Capital, a subsidiary of the Business Development Bank of Canada, invests equity capital in Canadian middle market growth businesses as a minority investor in partnership with management teams and stakeholders.

Niobrara managing director Otavio Birman and MSP CEO Habib Mlik worked on the deal internally.