FluidOne expands UK reach with Orca IT buy

A few months after refinancing with the aim of growing the company, FluidOne has made another merger and acquisition (M&A) move to expand its UK coverage, with the cloud solutions player picking up MSP Orca IT to add more cyber managed services and a presence in the North-West.

Founded by managing director Mark Tunstall and technical director Alex Pimperton, Chorley-based Orca IT has been running for more than two decades. The MSP provides a range of IT services as well as support for customers around cloud and security.

When FluidOne refinanced in June, the firm made it clear it was aiming to treble in size in five years, and agreed a package with Pemberton Asset Management to lay down long-term refinancing for the business and provide funds for acquisitions.

The Orca deal, the terms of which were not disclosed, is the first to follow the Pemberton involvement, but the ninth that has been struck since FluidOne underwent an MBO back in 2019.

“I couldn’t be more pleased that Mark, Alex and the team at Orca are joining FluidOne, building on our strategic, long-term growth strategy. Orca is a great business that matches the values and vision FluidOne has established and strives for,” said Russell Horton, FluidOne CEO.

“We’re delighted to bolster our IT Centre of Excellence with its expertise and to provide support for Orca’s team to scale their business and deliver wider FluidOne offerings to their customers.”

The plan is for Horton to become chairman of Orca IT, with FluidOne directors Simon Ward and Chris Rogers also becoming board directors.

In response to the deal, Mark Tunstall, finance and managing director at Orca IT, said that the deal would be a positive move for its staff and customers.

“With the backing of FluidOne, we will be able to extend our reach within professional services, including accountants. By becoming a regional branch of FluidOne’s, we’ll be able to build on our strengths in IT managed services, drawing on support from the group and adding further cyber security services, as well as connectivity, mobile and unified communications," he said.

FluidOne last dipped its toes in the M&A waters earlier this year, with a move in March for SureCloud Cyber Services, which came on the heels of a move back in December when it picked up Brighton-based Computer and Network Consultants to add more southern-managed service coverage.

FluidOne has grown to revenues of £113m, making nine acquisitions to fuel that growth and position the firm as a leading security-focused MSP.

In the past couple of years, it also picked up Highlander Computing, projectfive, Marathon and managed SD-WAN player SAS Global Communications. The theme of its acquisitions has been to add more technology expertise to bolster a managed services offering, as well as adding more UK coverage and industry expertise.