Croft Technology takeover will be a one-stop shop for IT
Fast-growing Newcastle IT company Technology Services Group (TSG) has snapped up fellow North East consultancy Croft Technology as it pushes ahead with ambitious plans to create a UK-wide service network.
The acquisition – TSG’s 23rd since it opened for business in 2003 – will boost the group’s annual turnover to around £37m. TSG homed in on Croft Technology to run a new division of the group called TSG Enterprise Solutions. Bringing Croft on board means TSG has been able to add a raft of specialist IT skills that the company did not previously have. Newcastle-based Croft specialities include network design, network installations, business continuity and disaster recovery. TSG was also interested in the firm, which employs 90 people, because acquiring Croft’s offices in Hertfordshire will help TSG’s ambitions to cover the whole of the UK.
TSG chief executive, David Stonehouse, said: “The launch of TSG Enterprise Solutions through the national coverage and wide skill set of Croft Technology staff will truly enable us to be a one-stop IT service for our clients, covering all of their IT, cabling and telecommunication requirements.
“It will provide us with the skills and capabilities to extend the product and services range currently offered by TSG to incorporate areas such as telephone, unified communications, large scale wireless deployment, structured cabling and virtualisation solutions.
They have a national set up already and the skill sets they’ve got are what we think a lot of our customers will need.”
Mr Stonehouse said that although TSG was “constantly” talking to potential takeover targets, the deal with Croft would put the company into a better position to grow organically because it would supply new services to existing customers.
The buy-out, for an undisclosed fee, means that TSG now employs more than 460 people in 14 offices from Aberdeen in the North to Southampton in the South.
Croft Technology managing direction, Phil Renton, said it would be “business as usual” under a different name for Croft’s staff and clients. He is delighted by the new opportunities presented by the deal.
“The key is that TSG as a group have an awful lot of clients, many thousands more than we have here,” he said. “This gives us the opportunity to work with the TSG regions and to deliver into the regions to their clients, the skills the group didn’t have at the moment.
“We are looking forward to growing the division into a very successful part of the TSG business. All of our existing staff will be remaining with the new business and we will be continuing to provide our customers with the high levels of service they receive today.”
TSG, which focuses on the SME market and has specialists working with Sage, Pegasus and Microsoft systems, is planning to continue its acquisition policy.
Newcastle lawyers Sintons and corporate finance group unw represented TSG in the deal, while Ward Hadaway and Robson Laidler advised Croft Technology.
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