Acquisition creates fourth division for professional services group
Bolton-based professional services group, K3 Capital Group, has added business management software solutions specialist, Pinnacle Computing (Support) to its portfolio, for a significant, but undisclosed, sum.
The deal extends K3’s service offering to a fourth division, Technology Solutions, complementing its existing offering which comprises Company Sales, Tax and Restructuring.
With three decades of experience and a dedicated team of 200 professionals, Pinnacle is the UK’s No.1 reseller of Sage ERP and accounting systems into the SME market, powering some of the most well known businesses in the manufacturing, distribution, construction and business services sectors across the UK and Ireland with Sage and Acumatica software.
Belfast-based Pinnacle, which operates from eight locations throughout the UK and Ireland, works alongside more than 2,000 SME customers, partnering with the leading global software houses to adopt best-in-class technology and enable businesses to streamline processes to help their efficiency and growth.
As part of the acquisition, Ken Montgomery, founder and Chairman, and James Spencer, Director, will continue their roles on the Pinnacle board, bringing strategic oversight to position the company for enhanced growth opportunities.
Ken Montgomery said: “This is a landmark occasion for me and the entire Pinnacle team. From starting the company from humble beginnings in 1993 to where we stand today – employing around 200 staff and achieving a £30m turnover – joining K3 Capital Group represents an incredible opportunity for Pinnacle to accelerate our growth and expand our business management solutions for SMEs.
“Culturally, K3 Capital Group is a strong fit for Pinnacle, and their significant investment, combined with their marketing and acquisitions expertise, will allow us to grow more quickly and deliver even greater value to our customers.”
John Rigby, Executive Chairman of K3, said: “The acquisition of such a high quality business marks the start of an exciting new division, which represents further diversification as we strive to consolidate our status as a market leader in the professional services sector.
“We believe that Pinnacle’s expertise in the crucially important business management space perfectly complements our other core services, and we are confident we can help Pinnacle to accelerate organic growth opportunities within the SME marketplace, as well as identifying relevant bolt-on opportunities to grow through acquisition.”
