Cherry Tree Advises Renodis in Acquisition of 12 Points Consulting
“We are thrilled to welcome the 12 Points team and its clients to our company. This acquisition, along with the recent acquisition of The Eric Ryan Corporation, will strengthen our ability to offer a variety of services to our combined clients and prospects. Our priority is to ensure the resiliency of our clients’ connectivity, advise on the right technologies, and provide best-in-class managed solutions.”
— Craig Beason, CEO and Owner of Renodis
Hospitality Telecommunications Equipment and Management
Strategic Advisor to Acquirer
Renodis is a leading telecommunications and mobility management services company based in Saint Paul, MN. In November 2022, Renodis acquired 12 Points Consulting. The Fargo-based company is a telecommunications company that primarily works in the hospitality industry. 12 Points Consulting provides hardware equipment and installation and manages the wireline services of several hotels located in the United States for some of the largest brand names in the hospitality industry. With this strategic acquisition, Renodis will enter the hospitality industry and will be able to leverage its resources to attract larger prospects and provide additional offerings to existing customers. This acquisition follows the acquisition of Eric Ryan Corporation which allows Renodis to cross-utilize resources in growing its management services and sourcing offerings across the hospitality and energy industries.
Cherry Tree’s Role:
Cherry Tree served as a buy-side M&A advisor to Renodis, helping the company identify numerous acquisition targets with offerings that align with the company’s growth strategy. 12 Points was a target identified during Cherry Tree’s prospect evaluation. Throughout the process, Cherry Tree assisted Renodis with financial modeling, due diligence, and negotiation of the purchase agreement.
Renodis is a connectivity technologies consulting, sourcing, and managed services firm. We help enterprises accelerate their copper-to-cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent, and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their connectivity technology transformations. Find out more at Renodis.com.
About 12 Points Consulting:
12 Points Consulting provides, services, and supports telecom equipment and provides telecom expense management services in the hospitality industry. Based in Fargo, North Dakota since 2013, 12 Points has become a one-stop-shop for all of their clients’ facility and hardware equipment support needs, including 24/7 support. Find out more at 12PointsConsulting.com.
About Cherry Tree:
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, please visit: www.cherrytree.com.
Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.