Agio marks Netrio’s fourth acquisition since its 2024 formation, expanding the platform’s capabilities across managed IT, cybersecurity, cyber governance, application development, connectivity, and voice services

Newport Beach, CA, – L Squared Capital Partners (“L Squared”) announces its portfolio company, Netrio, has acquired Agio, a New York City-based managed IT and cybersecurity services provider with deep expertise in the financial services sector.  The transaction represents a strategic step in Netrio’s plan to build a scalable, tech-enabled managed services platform with specialized capabilities across targeted industry verticals. Agio’s domain expertise, coupled with its proprietary automation platform, AgioNow, delivering GenAI capabilities, will be deployed across Netrio’s operations to improve service delivery, reduce client risk, and provide real-time visibility into customers’ IT environments. Customers will benefit from a broader range of services and deeper technical resources, while employees will gain access to expanded career development opportunities.

With Agio and the three prior acquisitions completed in 2024, Netrio has built a differentiated, tech-enabled platform with scalable operations and a strong foundation of recurring revenue. The company now delivers a broad suite of services—including managed IT, cybersecurity, cyber governance, application development, connectivity, and voice solutions—supported by a growing national footprint with offices in Dallas, New York, Minneapolis, and Buffalo, and global delivery capabilities.

“Agio is a high-quality business that aligns directly with our investment thesis—partnering with companies that bring industry depth, recurring revenue, and differentiated technology,” said Sean Barrette, Netrio Board Member and Managing Partner at L Squared. “This acquisition enhances Netrio’s value proposition in highly regulated sectors and supports our goal of building a market-leading platform.”

“This is a strategic combination that immediately benefits our customers,” said Mark Clayman, CEO of Netrio. “Agio brings proven capabilities in cybersecurity that complement our existing strengths, while its automation tools will help us deliver more proactive, effective service at scale.”

“Demand for managed IT and cybersecurity services continues to rise as businesses modernize their infrastructure and face increasingly complex cybersecurity and compliance challenges,” said Brian Scott, Netrio Board Member and Principal at L Squared. “Agio enhances Netrio’s ability to meet this need with specialized expertise and a scalable, tech-enabled delivery model.”

Looking ahead, Netrio will continue pursuing strategic acquisitions across the fragmented managed IT services landscape, focusing on companies with complementary capabilities, recurring revenue models, and geographic expansion potential.

The L Squared deal team is comprised of Sean Barrette, Brian Scott, and Adam Mokhtarzadeh.

Piper Sandler served as financial advisor to Agio.

About Netrio
Netrio is one of North America’s fastest-growing full-service MSPs exclusively serving the IT demands of small to mid-market organizations. Since 2003, Netrio has simplified technology management complexities, helping organizations drive innovation, efficiency and growth through managed IT services, cybersecurity solutions and cloud services. The company delivers enterprise-grade IT solutions across several industries, including financial services, healthcare and retail. Netrio enables clients to maximize technology investments while reducing costs. For more information, visit www.netrio.com. 

About L Squared Capital Partners
L Squared Capital Partners is a private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over 15 years and have over 125 years of combined experience investing in growing private companies. For additional information, please visit www.lsquaredcap.com.

About Agio
Agio is a managed IT and cybersecurity provider serving financial services. The firm blends deep industry expertise with AI-powered service delivery to transform reactive support into proactive prevention. The result is a consistent, quality client experience rooted in frictionless technology and robust security. For more information, visit www.agio.com.

For Additional Information Please Contact:

Sean Barrette
Managing Partner
Office: (949) 398-0178
[email protected]

Brian Scott
Principal 
Office: (949) 617-2059
[email protected]

Adam Mokhtarzadeh
Senior Associate
Office: (949) 617-2061
[email protected]