Chess bolts on IT firm

ALDERLEY Edge-based telecoms group Chess has made another acquisition, picking up Hertfordshire-based Parachute IT.

The deal will add revenues of £2.2m to the £70m turnover business.

Parachute, which has been sold by Daniel McPherson, will be renamed Chess ICT and add 17 staff to Chess’ 400-strong team.

Chess chief executive David Pollock said: “Parachute IT have been a forward thinking centre of excellence in design, delivery and support of business IT and communication systems for over 20 years. They have an outstanding reputation across the industry and we are delighted to welcome them into the Chess group.

“It makes great sense to strengthen our ever-continuing expansion into being a ‘one-stop shop’ by bringing the best out of Parachute IT’s knowledge and experience in the IT industry.”

Parachute’s managing director Martin Bacon said: “When Chess approached us I saw a great opportunity with a company intensely focused on quality and spirit, strategically driven, financially powered and with a highly evolved approach to creating robust success with acquisitions.”

The value of the deal was not disclosed.