Tech firm swoops in for digital security specialist
A cloud and managed IT provider in Manchester has acquired a firm in Runcorn.
Manchester based BCN Group has completed the strategic acquisition of Polymorph for an undisclosed sum.
Polymorph provides digital transformation, Microsoft Cloud and IT security services to more than 160 business clients in the North West and across the UK.
The acquisition means BCN Group can offer clients cloud and Microsoft application development capabilities.
The takeover will also strengthens BCN Group’s position as the leading cloud and managed IT services provider for businesses in the North of England and beyond.
Following the merger Polymorph’s employees will continue to provide support and development from its offices in Runcorn alongside BCN’s 140-strong workforce based out of offices in Manchester, Leeds and Chorley.
The group anticipates further expansion of sales, development and support in the Merseyside area as the company continues to grow.
The deal will allow both Polymorph and BCN Group clients to enjoy access to a wider set of products and services through the combined expertise of both business units.
The combination of the Microsoft services provided by Polymorph and the wider BCN Group will make BCN Group one of the leading regional Microsoft Cloud Managed Service partners in the UK.
Polymorph was established in 2000 and has built a reputation for quality in designing and providing leading edge technology, cloud solutions and IT security.
The company has enjoyed strong growth in recent years and now has an annual turnover in excess of £4m.
The merger is expected to boost BCN Group revenues to £30m a year with more acquisitions in the pipeline set to drive additional growth.
Simon Kelf, chief of BCN Group, said: “The essence of BCN Group’s success is to provide market leading IT and cloud support to local businesses from a local centre.
“The acquisition of Polymorph is a critical step in our journey as it provides us with a technical development hub to add further complementary services and value to our clients’ infrastructure.
“I have been very impressed by the skills and expertise of the team, and I am incredibly excited about the growth potential we have created to accelerate our business.
“This is a real strategic step for our Group. BCN will now have a wider skill set especially around application development within the Microsoft stack.”
Steve Harris, founder of Polymorph, said: “We are a leader in digital transformation utilising award winning Microsoft Cloud Solutions. The cultural fit with BCN Group and complementary service portfolio creates one of the leading providers of IT services in the region.
“The BCN acquisition provides a huge opportunity for our customers and employees to benefit from such an innovative, agile and customer-centric organisation.”
BCN Group were advised by Dow Schofield Watts Corporate Finance (Ed Brentnall) and DLA Piper (James Kerrigan and Chris Wilson).
Polymorph were advised by Langtons Corporate Finance (Andy McCall) and O’Connors Solicitors (John Spofforth)
BCN is based over four offices: Manchester; Leeds; Chorley and Runcorn and supports over 800 companies based in the North of England.
To support BCN’s expansion strategy Beech Tree Private Equity invested in the company in 2018, and in April 2019 NatWest made significant acquisition banking facilities available.
BCN are actively looking for further acquisitions.
Ed Brentnall of Dow Schofield Watts Transaction Services provided financial due diligence for BCN on the deal.
