Wed, 17 May 2023 | BUSINESS SALE
IT and comms managed service provider (MSP) Flotek Group has continued its acquisitive growth trajectory with a deal for Swansea-based telecoms firm Liberty Solutions (Swansea) Ltd. The acquisition is the eighth completed by Flotek since it was launched by CEO Jay Ball in April 2022.
Liberty Solutions provides business broadband services, telephone systems and telephone lines, with its services primarily tailored to small and medium-sized businesses. The acquisition bolsters Flotek’s existing Swansea office and further extends the Cardiff-headquartered firm’s presence in Wales.
Flotek’s buy-and-build growth strategy sees the group target SMEs, driving digital transformation by helping acquisitions to embrace new technologies, such as cloud computing, which can help to enhance their operations and service offering to clients.
The group’s M&A strategy has so far largely targeted SMEs headquartered in South Wales, such as Liberty Solutions and Gower Business Systems, although it has also sought to expand its geographic reach, such as through its acquisition of Chester-based telecoms firm ECS Solutions in March 2023.
Announcing the acquisition, Flotek CEO Jay Ball said that the deal meant Liberty’s customers would now benefit from receiving managed IT and cybersecurity services from a single technology provider. Ball added that the acquisition gave Flotek its fourth base in Swansea, to go along with multiple locations across England and Wales.
Regarding the firm’s ongoing M&A strategy, Ball said: "Right now, our priorities are integrating and operating as one business with clearly defined goals. We continue to communicate with all parts of the business to ensure integration plans are on track ready for any future acquisitions."
Read about why integration is at the core of successful M&A in this exclusive insight.
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