Morley-based tech firms grow with merger
A Morley-based technology services company with three decades of history, Hollinbay has completed a merger with IT company, NewFox.
The deal will create an expanded offering to both new and existing customers.
Speaking to TheBusinessDesk.com, NewFox’s managing director Craig Owens said, “With a combined 40 years’ in business the merger creates a powerful partnership and technology portfolio.
Explaining the merger, Owens added, “We [NewFox] were creating fantastic opportunities and saw demand growing on our technical support desk, which is exactly the skill set Hollinbay delivers faultlessly to businesses.”
Robert Harder, managing director and founder of Hollinbay, who has joined NewFox as shareholder and director of operations, said, “The merger is exciting and made perfect sense. We are both built on the same ethics and share the same family values but we both bring a unique set of skills to the table.”
Owens added that unlike many businesses, NewFox had seen a number of opportunities created through the Covid-19 pandemic.
He said, “The Covid situation has actually provided an opportunity for us due to the increase in people working remotely”. He explained how demand for communications equipment and the integration of systems such as MS Teams and space in data centres has been high.
Looking to the future the firms which are now jointly based at Cliffe Park in Morley plan to increase headcount from 24 to 36 over the next twelve months.
The new Group is also aiming to deliver 38% growth in revenue this year. Owens says this will be done through an increase in revenue from contract services, which he adds will become 70% of the group’s revenue by March 2022.
This transition will be achieved according to the entrepreneur who founded NewFox in 2010 by opening up the Group’s new broader portfolio to both existing and new clients of both NewFox and Hollinbay.
Kevin Johnson, shareholder and group sales director at Newfox added, ‘Our clients are already seeing a hugely positive benefit, not only in the broadening of our portfolio, but also in the way we deliver solutions to clients old and new.’
The firms were advised on this deal by Progeny’s senior legal counsel, Philip Jordan, supported by senior solicitor Toby Adkins and Nicola Cooper, senior partner of Chadwick Lawrence.
