PURE TECHNOLOGY GROUP ROUND YEAR OFF ON A HIGH WITH ACQUISITION OF KEYTECH
Leading IT services and solutions provider pure technology group (PTG) have rounded off the year on a high after announcing the acquisition of Wigan-based IT services organisation – Keytech Managed Solutions Ltd.
The self-financed deal will see the group increase annual turnover beyond £30m and increase personnel to over 120.
This news follows PTG’s announcement that the business completed its 2017-18 financial year on a record £27.8m – the highest in Group history – which equates to 40% growth over the previous two years.
Setting out an ambitious three-year growth strategy in 2016, PTG’s aim is to close 2019 on £40m revenue. And following the Group’s previous acquisition of Servatech Limited, adding Keytech – with its £2m+ annual turnover – means the company is well on track to hit this key financial milestone.
The deal will also expand the Group’s geographical footprint, with the Wigan-based Keytech offices now complementing PTG’s existing sites in Leeds and Wakefield.
The acquisition will focus on adding customer value by extending the cloud, DataCentre and IT managed services capabilities of both organisations. This is a world in which Keytech has over 25 years’ experience, supporting organisations ranging from global enterprises to business start-ups, and underpinned by an advanced Network Operations Centre.
“I’m really pleased to welcome our Keytech colleagues to the team, as we share so many similar values. Adding its 25+ years of experience to our existing model is a tremendous opportunity for us to pool knowledge, resources and capabilities, as well as realise much bigger joint ambitions.” Stephen O’Brien, pure technology group CEO
Steve Critchley, managing director of Keytech, added: “Joining the pure technology group is an incredibly exciting prospect. Giving us access to a larger supply chain and a great sales and marketing engine, it will make a real difference to the business, our customers and our staff. We can see clearly how we’ll fit in from day one without huge change.”
Keytech Managed Solutions Ltd was advised by Lockett Loveday McMahon Solicitors, based in Manchester, and pure technology group was advised by Shulmans LLP of Leeds.
This is not the end of the acquisition trail though, as Cliff Fox, pure technology group COO, explains: “When we wrote the strategy in 2016, we envisaged acquisitions along with organic development to model our projected growth. Geographic expansion was a big part of that and will continue as we search for the next suitable company – ideally within the M25 radius.
“With new strategic services launching, Keytech coming on board and further acquisition in the pipeline, we have another big year ahead of us.”