Knights’ Corporate team has supported IT services provider Pure Technology Group (PTG) on its sale to the European division of Fulcrum Technology Group.
Established in 2007 and led by founder and chief executive Stephen O’Brien, PTG has grown every year it has been in business, reaching £39.7m in its last financial year. It works from bases in Leeds, Wakefield and Wigan. It is a trusted technology partner to some of the UK’s leading brands and employs 140 staff, all of whom will be retained as part of the deal.
With European headquarters in the Netherlands, Fulcrum Technology Group has developed a pan-European strategy for the provision of business technology solutions, leveraging best practices in Service Management, Cloud, Security and Analytics. Its acquisition of PTG will help fulfil its strategy to develop a scalable platform of solutions across the IT sector.
Marcus Armstrong, Partner at Knights, commented: "This deal delivers a fantastic platform for PTG and Fulcrum Technology Group to enhance the product portfolio across a broader client base and go for growth across Europe and beyond.
The IT services market is a really exciting place to be and there is huge appetite for consolidation. It’s been great to work with such a dynamic and agile team and we wish Stephen and his team all the very best; the opportunities are there and we know they will meet them.”