Cogent Growth Partners, an influential player in the IT industry M&A advisory space, has nominated Rick Murphy as their Channel Leader for the ForzaDash Channel Leader 2023 award. Rick Murphy’s impressive entrepreneurial and M&A experience, combined with Cogent’s notable achievements, underscore their significant contributions to the channel.
Key Information:
- Channel Leader: Rick Murphy
- Company: Cogent Growth Partners
- Company Founded: 2010
- Current Role: CEO & Managing Partner
- Years in the Channel: 14
- Highest Ranking Channel Executive: Yes
- Reporting to: Clients and Candidate Companies
Biography: Rick Murphy is an innovative entrepreneur with extensive merger and acquisition (M&A) experience in the information technology sector. He serves as the founding CEO and Managing Partner of Cogent Growth Partners, LLC, since its establishment in 2010. Under Rick’s leadership, Cogent has successfully closed over 160 acquisition transactions for buy-side clients in the IT sector across the USA. Rick is an expert in devising, planning, and executing comprehensive acquisition strategies that transform and enhance IT service businesses. He guides the Cogent team through the entire transaction life-cycle, from candidate recruitment to due diligence, financial modeling, valuation, deal negotiation, and transaction structuring. His expertise extends to the creation and negotiation of all transaction documentation and facilitating thoughtful consultation with all parties involved to ensure successful deal closings.
Top Services/Products: Cogent Growth Partners is recognized as a market leader in IT industry M&A advisory services.
Channel Accomplishments: Cogent has achieved remarkable success, having closed over 160 IT service company acquisitions since its inception in 2010.
2023 Challenges: In 2023, their primary challenge is helping MSP owners understand the potential of M&A, emphasizing that selling can be an “on-ramp” rather than an “exit,” unless they genuinely desire an exit.
Growth Expectations: Cogent aspires to grow by more than 25% in 2023.
MDF Investment: They anticipate their Marketing Development Funds (MDF) allocation to remain flat or experience a slight increase.
Top Channel Goals for 2023: Cogent aims to assist at least 15 companies in closing an acquisition deal in 2023.
Innovative Programs: Cogent offers a “Finder” program for individuals who contribute to facilitating IT deals.
MSP Benefits: MSPs appreciate Cogent for its ability to help both buyers and sellers successfully navigate the intricacies of IT deals, as evidenced by direct quotes from their clients.
MSP Advisory Board: While Cogent does not have a specific MSP Advisory Board, their three capable partners serve as an advisory board.
MSP Focus Groups: They have not held MSP Focus Groups in the past.
MSP Importance: Cogent rates MSPs as essential (7) to their channel program, underscoring their commitment to this segment.
Award Aspiration: If selected as the ForzaDash Channel Leader 2023, Cogent and Rick Murphy express their eagerness to use their position to advocate for various ways to help MSPs of all sizes realize their full potential, highlighting their dedication to the channel’s growth and success.
