Acquisition plugs IT group into growth

Managed IT services provider SysGroup has acquired a West Midlands business as part of its growth strategy.

The stock market-listed group has bought Rockford IT, a complementary business which is operating in the fragmented sector.

SysGroup, which is based in Liverpool, has agreed to pay £3.9m for Rockford.

Chris Evans, chief executive of SysGroup, said: “The acquisition is in line with our strategy, supplementing our organic growth whilst enhancing our services portfolio and providing cross selling opportunities for products and services. Rockford further solidifies our presence in existing markets and also expands the Group into new verticals such as hotels and leisure.”

Rockford employs around 40 people at its Telford base and recorded sales of £4.45m in the year to July.

Evans added: “The market for managed IT services remains highly fragmented and ripe for consolidation. We believe that this acquisition enhances our position to capitalise on the substantive market opportunity available.”