Tim Conkle, an Army veteran and entrepreneur, believes in more than personal success; he's committed to uplifting others along the way.
A fervent advocate for the Managed Service Provider (MSP) industry, Tim founded The 20 MSP, a leading player in managed IT services, and The 20 MSP Group. The 20 MSP Group offers member MSPs access to comprehensive solutions for their customers, including a 24/7 IT help desk, state-of-the-art cybersecurity and technology consulting, all under one service delivery model. Collectively the organizations are known as The 20.
Experiencing rapid growth through strategic acquisitions, Tim has charted an extraordinary trajectory for The 20, which now includes being a successful MSP acquirer. However, this unique strategy was not built overnight; it's the culmination of Tim's three-decade journey of innovation and entrepreneurship.
Empowering MSP Growth
Raised in an entrepreneurial family, Tim had a lifelong ambition to own a business. After his military service, he ventured into the corporate world but kept a keen eye on potential business acquisitions. In 1991, Tim bought Roland Technology, an MSP in Texas, which kicked off his entrepreneurial journey. Over the next two decades, Tim tirelessly expanded his MSP business, enhancing onsite managed IT services in the Dallas/Ft. Worth metroplex while formulating a recipe for MSP success.
Driven by a spirit of innovation and constant experimentation, Tim created a model for MSP business success that others could also experience. He was confident that if other MSP business owners knew they could duplicate his success, they would “follow him” by adopting his systems. Along his entrepreneurial path, he’d encountered numerous MSP owners who were skilled engineers, adept at customer support but challenged on the business front. Tim knew he could help them grow more quickly if they were all on the same platform. This idea of a shared business resource gave birth to The 20 MSP Group, a consortium in which members quickly recognized the collective buying power and scalability that collaborative efforts offer.
As a member of The 20 MSP Group, companies use The 20’s comprehensive suite of white-labeled Management Services, Marketing, Lead Generation and 24/7 Help Desk support, among other services. This enables the individual MSPs to scale their operations efficiently, accelerate their growth, and compete more fiercely in their markets, without needing significant capital investments.
“Joining The 20 is a no-brainer for an MSP that wants to become bigger faster,” says Tim. “We can cut 10 years off their growth strategy the minute they join because we change their mindset and give them everything they need to grow their business.”
A Differentiated MSP Model
One of the things that differentiates The 20 is its model as a Managed IT Department (MID). Instead of paying for services by the hour in a break/fix model, or through a monthly retainer that excludes many IT challenges, MSPs using The 20’s model serve as an MID, which comes with a true flat rate fee for outsourced IT.
This pricing structure, paired with The 20 MSP platform, has catapulted member MSPs to success and opened the doors to additional growth for Tim and The 20. By 2024, there were 150 small and mid-size MSPs nationwide on the platform.
Building a Consolidated Company
Following the success of The 20 MSP and The 20 MSP Group, Tim realized he could take his business to the next level by acquiring members of the Group, further enhancing their collective strength in the industry.
Tim's approach not only transforms small business owners into multimillionaires but also ensures their continued involvement, creating a cycle of increasing prosperity that surpasses what an individual could achieve alone. To Tim, legacy matters. He feels fulfilled when people credit their success to him. Tim aims to build something where everyone benefits, pulling other hardworking individuals up with him.
High-performing companies in The 20 MSP Group have an attractive path to a successful acquisition. Integration risks are minimal since those MSPs are already using The 20’s platforms; and for business owners and their clients, it is a win-win. In most cases, the former owners continue to run their companies, only now with The 20’s financial backing in addition to its services.
Funding an Acquisition Strategy
The 20’s unique model of buying known companies enables rapid acquisition. It completes transactions for multiple MSPs within a month—an unprecedented feat for many businesses.
Securing these acquisitions requires capital. Pinecrest Capital Partners, The 20’s ongoing advisor, connected Tim with Sunflower Bank to provide funding.
“We needed someone to buy the dream, and the money to make it happen,” said Tim. “Sunflower stepped up to the plate. They saw the vision. I think we had all the right pieces in place, we just needed someone to see the other side.”
For years, The 20 had been a debt-free company. Deciding they were now going to grow by taking on debt took fortitude, guidance and a banker in their corner.
A Well-Oiled Closing Team
Sunflower Bank established a reducing syndicated loan structure, providing The 20 with flexible capital. Serving as the primary bank and sole lead arranger, Sunflower Bank stands ready to enlist additional participants as needed.
The 20's trajectory is remarkable as the number of acquisitions keeps growing with no end in sight. As of March 2024, The 20 has 30 MSP acquisitions under its belt. The Sunflower Bank team works quickly and diligently in collaboration with The 20’s acquisition team, including Pinecrest, to close deals at a rapid pace. After so many acquisitions, Tim and the team quip that they’ve now achieved the “no-look pass,” where they can throw the ball to their wingman and know they’ll be there to catch it without looking back. Dustin Gibson, Collin County Market President for Sunflower Bank, and one of Tim’s wingmen, says the growth has been fun to watch.
“The team has built out the network and minimized the risk. So, they can sprint,” says Dustin. “It’s a testament to the environment Tim is building. The snowball is building with each acquisition and getting easier. It’s fun to watch good, smart people take Tim’s dream and put legs to it.”
Since partnering with Sunflower Bank, The 20 has moved its commercial banking relationship to Sunflower Bank, including Operating and Payroll deposits and Treasury Management.
“Sunflower’s goal is the same as our goal,” says Tim. “We both want each other to prosper, and the relationship has been really good.”
Growing a Strong Future
As The 20 continues to expand, we remain committed to supporting Tim and the company for years to come. Together, we’re not just building a business; we’re building Tim’s legacy.
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