Acquisitive technology group swoops for IT services business

Leeds-headquartered IT services and solutions provider Pure Technology Group (PTG) has announced the acquisition of Wigan-based IT services organisation Keytech Managed Solutions.

The self-financed deal will see the group increase annual turnover beyond £30m and increase personnel to more than 120 people.

The announcement 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. PTG’s aim is to close 2019 on £40m  revenue. Its previously acquired Servatech.

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.

Stephen O’Brien, pure technology group CEO, said: “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.”

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 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, added: “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.”