Global tech company acquires £40m turnover Yorkshire-based firm
Leeds-based IT services and solutions company the pure technology group (PTG) has been acquired by Fulcrum Technology Group BV, the European division of a global technology company.
Fulcrum plans to retain PTG’s senior management team and all personnel.
As part of Fulcrum, PTG will gain access to a broader customer base and will play an important role in helping expand the group’s strategic portfolio of products and services.
Beginning in 2007 and led by founder and CEO Stephen O’Brien, PTG has grown every year it has been in business, reaching £39.7m in its last financial year and employing 140 people through three locations in Leeds, Wakefield and Wigan.
O’Brien said: “We’ve had many approaches over the last couple of years because, fundamentally, we’re a great business.
“Fulcrum’s pitch was different though; they have a bigger strategy in play, which will propel us towards being amongst the top echelon of UK IT Service Providers.
“We also share many values, which will only enhance what’s truly special about our business – our people, our culture and our service. For all of us, and our customers and partners too, this is a tremendous opportunity.”
Fulcrum CEO, Shane Maine, said: “From the start, we were very impressed by PTG. Not only because of the products and excellent service to customers, but also by their culture, innovative approach and people.
“We see clearly the expanding capabilities we can develop together in the areas of secure remote work and enterprise service management to create a successful future together.”
Ben Taylor, Yorkshire tech sector lead for KPMG, who advised on the deal, added: “This acquisition is the latest sign of an exciting pan-European growth strategy emerging across the IT services market, in a sector that’s ripe for consolidation. We expect this trend to continue throughout this year.”
Fulcrum was advised by Harrison Clark Rickerbys, Tribeca Abogados S.L.P. and Lubbock Fine LLP. PTG was advised by Knights Plc, KPMG and RSM UK Group LLP.