SMS has opened facility number 27 in Jacksonville Florida in support of our customers in that area. Jim Kleeman, CEO of SMS says: “Not only does this represent an additional commitment to the Florida Market, but it reinforces our corporate goal of providing 2 hour response times to 90% of the U.S. Market.” SMS currently has Service Centers in Tampa, Miami and Jacksonville service customers with 4 hour response times.

SMS has added two security options to its popular All-Inclusive^tm Service to accommodate the destruction of assets leaving your premises. These assets are destroyed in compliance with Federal, State and Local regulations after which you will receive a detailed Settlement Report verifying the assets were received, tracked, overwritten, reformatted or destroyed. Service fees are a line item to your current Monthly Maintenance Charges.

Vince joins SMS from Harris Corp where he served as the President of the Advertising Solutions Group (ASG). Prior to Harris, Vince served as CEO of Premier Systems Integrators, LLC. Premier was a $120M systems integration firm that provided network and enterprise systems solutions for mission critical applications. Premier was sold to Dimension Data, Inc in 2001.

As CEO of SMS, Jim Kleeman will be responsible for the strategic direction of SMS as well as acquisition and growth strategies for the 25 year old company. Says Kleeman, "It is my goal to extend the reach of SMS so that 90% of the U.S. market can be served by us in under 2 hours. Unlike the major OEMs, SMS is investing heavily in geographic expansion with Service Centers, sales and technical expertise. This presents a tremendous opportunity for a high level of service to our customers, afforded by their low cost; high quality; approach to delivery of maintenance."

Frontenac Co. has announced its acquisition of SMS Systems Maintenance Services Inc., a provider of mission-critical maintenance for computer hardware. While terms of the transaction were not disclosed, Chicago-based Frontenac typically invests between $20 million and $40 million of equity in its platform acquisitions.

Equity for the transaction came from Frontenac VIII LP, a vintage-2000 fund that closed on $560 million. Merrill Lynch Capital provided senior debt financing for the transaction. Typical purchase price multiples for mid-market IT services companies often fall between 8x to 10x EBITDA.