Pinnacle Complete Office Solutions has increased turnover from £4.5 million to £7 million in 18 months
In March 2015, Group Managing Director Clive Hamilton completed an MBO of the business he’d worked at for 23 years. Under his leadership, in just 18 months, the company completed two acquisitions and recorded its highest ever level of year on year growth, with turnover rising from £4.5 million to £7 million.
The company was established 26 years ago and up until the MBO, it was primarily a hardware-centric organisation. “We did offer a number of document workflow solutions, but our core business was within the print hardware arena. Following the MBO, I chose to align our portfolio with market demands and evolved to offer more solutions and software services to complement our range of printers and hardware, associated workflow solutions and managed print services,” Hamilton explained.
As part of its strategy to adopt a stronger solutions focus, the company was appointed a Microsoft Silver (soon to be Gold) Partner and a VMware accredited technology provider, moves that placed it in a strong position to provide clients with a full complement of tailored, flexible and scalable on premise, hybrid and cloud, end to end solutions.
“We’re not masquerading as IT experts, our approach has been all about having the ability to wrap added-value solutions around document management and workflow,”
Hamilton said. “In today’s climate more documents are produced but less are printed out, with our services, we help clients to efficiently capture information securely and make it easily accessible to everyone in the business. It’s about managing the workflow of documents, providing continuity and wrapping that around an MPS solution,” he added.
Print and IT
Pinnacle was one of the first mono branded Xerox Concessionaires in the UK and offers the OEM’s full range from small desktop printers, to MFPs and digital colour production presses. The company is a Gold Partner Concessionaire, as well as a Xerox accredited Advanced Managed Print Services and Production Specialist.
“There is a natural synergy between the IT and print worlds. Solutions such as Office365 and Sharepoint can be added as apps to client’s Xerox MFPs. By bringing both print and solutions together, we’ve created a managed services portfolio as opposed to just a managed print service,” Hamilton said.
Acquisition for growth
Pinnacle’s head office is in Cardiff and it also has offices in Exeter and Watford, it employs 26 people across all three sites. The addition of the Watford office was a result of its first acquisition, last year Pinnacle bought Fast Technology Services, a business that specialises in IT printer hardware and related technologies.
Hamilton said: “We bought it because there was a real synergy between both companies’ customer bases. They were a multi-brand organisation with specific expertise in managing large fleets of A4 devices. What we did was to align the business with our own so it offers the full Xerox portfolio but we also retained some A4 brands as well for continuity.”
The company has also just completed on its second deal. It has purchased a Bristol-based IT reseller’s entire MPS customer base and wholly integrated that within its operations. “Managed print wasn’t their core business and they wanted to ensure their customers received the best support so they can focus on IT solutions. We have migrated all agreements over to us and the door for network and IT services remains open, it’s a good fit for us,” he said.
Three-pronged growth strategy
Future growth is firmly on the cards, Hamilton said that the next goal is to hit the £10 million turnover mark. “We’ve got a plan in place and growth will come from three areas – business as usual, solutions and acquisitions,” he said, adding: “There are one or two more [acquisitions] we’d like to do in the next twelve months.”
Pinnacle serves customers across all sectors but is viewed as a specialist within the finance and insurance world, retail sector, as well as the medical and pharmaceutical markets. “We’ve got a number of good clients in those markets,” Hamilton said.
The company also has a number of European clients and the ability to tap into Xerox’s infrastructure has proven to be a major value-add when it comes to winning new business. “We’ve got between 400-500 devices and associated solutions installed in 14 countries,” he said. “As a Xerox partner we have been able to create a broader scope of services and can provide MPS to customers across Europe very easily.”
Looking ahead Hamilton believes that with Brexit, the next eighteen months will be challenging. “As we’ve operated in Europe for a number of years, for us trading will continue and it will be business as usual, but there’s no doubt it has and will impact further on our industry.” In conclusion, he said that there are opportunities out there. “We will have to work harder or smarter to get the same business, which is why I see acquisitions and solutions as key – the more you can wrap around the better!”