Trio of North East businesses merge together with £10m turnover plans
Three regional IT service businesses have announced their intention to merge and form a new business.
SITS Group, PCI Services and Pivotal Networks will merge to form a newly incorporated company called TruStack LTD.
The turnover of the new business will exceed £10m with growth plans in terms of turnover and additional services post merge.
The directors of TruStack are Joe Olabode, Richard Common, Paul Watson, Phil Cambers, Russell Henderson and Geoff Hodgson.
In a joint statement, they said: “There is clearly a very similar positive culture between all of the businesses.
“It makes sense to merge and the joining of the businesses will in turn benefit our loyal and longstanding client base who will get access to an even wider pool of commercial, administrative and technical services.
“We have spent many months performing due-diligence on all sides and we are delighted to announce this merge. We would like to thank all parties involved in making this deal happen, including legal advice from Ward Hadaway and financial advice from Clive Owen and Haines Watts.”
All three companies operate across a multi sector UK wide client base, and provide similar services such as cloud computing; network design, implementation and support.
Existing clients include Muckle LLP, Collingwood Business Solutions LTD and many of the North East’s Top 200 companies.
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