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EvolveODM and Redcentric use acquisitions to fuel growth
Channel players have both been active in the M&A market as they look to add further customers and services to their portfolio
Network service provider EvolveODM has moved to add more depth to its Lancashire presence with the addition of GB3 from EG Group.
The plan is to complement its existing Wigan-based operation with Lancashire-based GB3, which will run as a sister brand, giving EvolveODM the chance to grow the business.
EvolveODM is working to a three-year plan that aims to grow the firm’s network management footprint from 7,500 to 15,000. Along with that doubling, there is an expectation that the acquisition will help support its drive to create up to 40 new jobs in the area by 2025.
GB3 is a decade-old business that comes with 45 staff and an established customer base that leans on the channel player for IT support.
“We’ve been working closely with GB3 recently to fulfil mutual customer contracts, so we knew that acquiring GB3 would help us create a broader IT services business with a more expansive offering for our customers,” said Alan Stephenson-Brown, director at Evolve Business Group.
“This acquisition helps us on our mission to become an indispensable technology partner to retail, hospitality and petroleum franchises. The two companies provide truly complementary services and together create a centre of excellence for IT in Lancashire’s growing digital sector.”
The acquisition was backed by Barclays Corporate Bank, whose relationship director, Shamir Patel, said the bank saw the potential in EvolveODM’s strategy.
“Evolve is a thriving business looking to expand and grow,” he said. “The new funding we’ve provided will enable it to broaden its offer to its client base and grow its market share.
“This deal can enhance the prospects of quality job creation in the innovative and thriving digital sector in the Lancashire region.”
Elsewhere in the market, fellow IT service player Redcentric has also been adding more depth to its business, with the firm sealing four deals to bolster its cloud, security and consultancy credentials.
The four additions – Piksel Industry Solutions, 7Elements, 4D Data Centres and assets relating to the Sungard AS datacentre and consulting business – have all been added in recent months.
The deals have added about 650 customers and given the firm a network of eight datacentres, and there are signs that its M&A activity will continue.
Cem Ahmet, chief operating officer at Redcentric, said the business was expanding. “We’re experiencing a period of real growth at Redcentric and the acquisitions we’ve made allow us to provide a vastly enhanced portfolio and expertise, enabling us to give our customers the breadth and depth of services and solutions that they require,” he said.
“We will continue with ongoing investment in expanding and enhancing our portfolio, infrastructure and capabilities, so that we continue to be a trusted, reliable and stable partner for our customers.”
