ServicePoint acquired Smart Source LLC, also known as SmartSource, a St. Charles, Illinois-based firm that provides IT staffing and other IT services.

“With the addition of SmartSource to the ServicePoint platform, we will capitalize on shared resources, more opportunities and new capabilities to further grow the combined business,” ServicePoint CEO Jose Bernal said in a press release.

SmartSource was founded in 1996 and has more than 100 customers across various industries throughout the US.

SmartSource co-founders Joe Iovinelli and Tony Iovinelli will continue with the company.

“Our shared values of innovation, excellence and commitment to our customers make this partnership an excellent fit,” the Iovinellis said in a press release.

The acquirer, ServicePoint, is a portfolio company of private equity firm Mill Point Capital LLC.

“Joe and Tony have created a tremendous business that is anchored by unmatched service delivery and industry expertise,” Jeff Leventhal, Mill Point executive partner and executive chairman of ServicePoint, said in a press release. “We look forward to partnering with the entire team to continue growing the ServicePoint platform and pursuing the numerous opportunities ahead.”

Leventhal’s past experience includes founding independent contractor management system WorkMarket, which was sold to ADP in 2018 and OnForce, which was sold to The Adecco Group in 2014. WorkMarket later acquired OnForce from Adecco in 2017.

ServicePoint is a field services provider focused on design and engineering, installation and maintenance of technology infrastructure.

SIA has reached out for more information.