Second acquisition in a month for IT services provider
Liverpool-headquartered SysGroup has acquired a Bristol managed IT service provider, its second acquisition this month.
Independent Network Solutions – which trades as Orchard Computers, has been in operation for more than 30 years and has 120 active clients in 2021, largely covering the South West of England.
The business, which generated revenues of £2.1m in 2021, represents customers across a range of sectors, covering both the public and private sectors.
The acquisition was funded from the SysGroup’s existing cash resources and will further strengthen the group’s presence in the South West of England, while complementing the operations in South Wales, with the addition of more than 20 people joining the team.
Ian Terry and Chris Patten of Orchard will remain with SysGroup to assist with the handover of customer relationships and integration into the group.
Adam Binks, CEO of SysGroup, said: “Orchard is a well-established, well-respected business with a loyal customer base in the South West of England and I am delighted that we have been able to bring this business into the Group.
“Our enhanced presence in the region will add even more value for the combined customer base and will create a raft of opportunity for all of our team members, including the addition of our 20 new colleagues from Orchard.”
This news follows SysGroup’s appointment of Manchester-based independent financial services group, Zeus, as its new Nominated Advisor and Broker, supporting the business on its M&A strategy.
Orchard is the Group’s second acquisition this month, following the integration of Edinburgh-based Truststream Security Solutions in a deal worth up to £8m.
