Acquisition turns Leeds-based pure technology group into £30m-turnover business

Leeds-headquartered IT services company pure technology group (PTG) has acquired North West counterpart Keytech Managed Solutions Ltd.

The self-financed swoop for Wigan-based Keytech will push the group’s annual turnover past £30m and increase its staff count to more than 120.

PTG completed its 2017/18 financial year with revenues of £27.8m – its highest to date and up 40% over the previous two years.

As part of a three-year growth strategy launched in 2016, PTG is looking to close 2019 with sales of £40m. Having acquired Servatech Limited and now Keytech, with its turnover of more than £2m, PTG said it is well on track to hit its financial goal.

Stephen O’Brien, CEO of PTG, said: “I’m really pleased to welcome our Keytech colleagues to the team, as we share so many similar values.

“Adding its 25-plus years of experience to our existing model is a tremendous opportunity for us to pool knowledge, resources and capabilities, as well as realise much bigger joint ambitions.”

Keytech MD Steve Critchley commented: “Joining the pure technology group is an incredibly exciting prospect.

“Giving us access to a larger supply chain and a great sales and marketing engine, it will make a real difference to the business, our customers and our staff. We can see clearly how we’ll fit in from day one without huge change.”

Keytech’s Wigan office will continue to operate alongside PTG’s sites in Leeds and Wakefield.

Manchester’s Lockett Loveday McMahon Solicitors advised Keytech on the deal. Shulmans LLP in Leeds acted for pure technology group.

Cliff Fox, pure technology group COO, commented: “When we wrote the strategy in 2016, we envisaged acquisitions along with organic development to model our projected growth.

“Geographic expansion was a big part of that and will continue as we search for the next suitable company – ideally within the M25 radius.”

He added: “With new strategic services launching, Keytech coming on board and further acquisition in the pipeline, we have another big year ahead of us.”