Technology Services Group Ltd (TSG) has acquired IT consultancy and support company Croft Technology plc.
This acquisition is a key step in the growth strategy of TSG and will allow the development of an exciting new division, to be branded TSG Enterprise Solutions.
The acquisition is the twenty third for TSG since its inception in October 2003, and represents continued progress in building a UK-wide service network, providing complete IT services to small and medium sized businesses. TSG is building towards this vision by acquiring some of the highest quality IT businesses across the UK.
Croft Technology employs 90 staff across offices in Newcastle and Hertfordshire and is a national IT company specialising in network design, network installations, business continuity, disaster recovery, unified communications and support services to businesses throughout the UK. This business was chosen as an excellent fit for the launch of the new division due to the national presence of the business and the extensive knowledge and skills in products and solutions which are not presently offered by TSG.
David Stonehouse, TSG’s Chief Executive said: ‘This acquisition signals a significant development in TSG’s growth strategy. 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 telephony, unified communications, large scale wireless deployment, structured cabling and virtualisation solutions. 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.’
Phil Renton, Croft Technology’s Managing Director said ‘Croft Technology is excited to be involved in the launch of TSG Enterprise Solutions. We are pleased that the skills and expertise of the company have been recognised and 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.’
This latest acquisition means that TSG now employs over 460 staff and provides services to thousands of small and medium sized businesses nationwide, from Southampton in the south, to Aberdeen in the north. Following the acquisition of Croft Technology, TSG intends to continue its expansion plans with further acquisitions across the UK.
The acquisition process was overseen on behalf of TSG by Newcastle-based legal firm Sintons through partner Matt Collen, working with corporate finance organisation UNW and partner Neville Bearpark. Croft Technology was advised by Martin Hulls of Ward Hadaway and Graham Purvis of Robson Laidler.
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