Further expansion on the cards for ITEC

Posted on Aug 7 2018 - 10:00am by Editorial Content
RATING

ITEC, Copyrite and Criterion are to merge into a single business to serve customers on the South Coast in Dorset and Hampshire, as well as nationally

Companies merge

Companies merge

ITEC provides managed print, IT, VoIP and document capture technology, with a focus on tailored support and service, to help organisations achieve more from their technology investments. The company has offices and facilities in Bournemouth, Bridgwater (Somerset), Bristol, Exeter, London, Reading, Manchester, Plymouth and Redruth (Cornwall).

Its success to date has been built on a combination of strong organic growth combined with a number of strategic acquisitions to expand its portfolio of services. In the 12 months to the end of February 2017, the group posted revenues of £27.4 million – up 26 per cent on the previous financial year.

One of ITEC’s core values is to look for smarter ways of working and the company is interested in investment opportunities that enable it to offer customers a new, game-changing solution. It also looks to acquire companies that share a passion for customer service combined with a commitment to innovation and excellence, and has completed several deals to date on the back of that philosophy.

Strategic acquisitions
During FY16/17, ITEC acquired Stem, a Plymouth-based IT supplier that had built a strong track record based on its technical excellence and innovation, a move that enabled it to expand its range of IT infrastructure services and to offer them to a wider customer base.

In 2017, it acquired Reflex Digital Solutions, a Reading-based Ricoh dealership. This acquisition served to further expand the company’s geographic footprint and provided a warehouse and hub from which to service its growing customer base in the South East.

In January this year, it completed the acquisition of Bridgwater-based MailaDoc, which is now a fully owned subsidiary of ITEC. MailaDoc helps businesses with their print and mailing needs and developed an innovative hybrid mail service that allows customers to make their outbound post cheaper and more compliant.

Commenting on this deal, CEO Nick Orme said: “The reality is that outbound postal communications is something of a black hole for many organisations and a part of the business where they are not managing costs and auditability.

“MailaDoc fits perfectly with ITEC’s existing digital solutions that help companies work smarter and achieve new levels of efficiency, while at the same time improving their data security and regulatory compliance.”

Powerful technology company
This latest merger will create a powerful technology company with 3,500 existing customers, 300 staff and annual sales of £45 million. Effective June 25, the new combined company, which includes Copyrite’s wholly owned IT services subsidiary Criterion, will be known simply as ITEC.

There were three main factors underpinning the merger. With an improved buying power of the new combined company, ITEC will be able to deliver even better value to its customers. Secondly, the new company will benefit from complementary skill-sets. For example, existing Copyrite customers will now have access to data centre, unified communications and hybrid mail solutions from ITEC, while ITEC customers will be able to tap into the software development expertise of Copyrite’s subsidiary Criterion.

Finally, both companies place a premium on locally-based customer service and both have an outstanding record for customer retention. The merger brings new scale to operations while ensuring the ‘local touch’ commitment remains at the very core.

Copyrite’s existing Wimborne office will remain in place as the expanded hub for Dorset and Hampshire, bringing together engineering and account management resources from the two companies into one location. Copyrite’s Directors, Ian Stewart and Phil Ford, will together head the ITEC business on the South Coast.

The merger brings together two existing operations that are already strong and successful in their own right. Copyrite is a total document solutions provider, offering managed print services, business software, IT managed services and web solutions.

Orme said: “This merger puts in place a very strong presence on the South Coast, alongside ITEC’s existing footprint in Bristol, Devon, Cornwall, Manchester and Somerset. The companies coming together in this merger are very aligned in terms of our values, our business models and our culture.”

In a joint statement, Orme and Copyrite Director Ian Stewart, stated: “Our vision is to build a technology powerhouse to serve customers across the South Coast, the South West and beyond. The goal is to help organisations become more agile and deploy technology in ways that maximise efficiency and enable smarter working.”

Stewart added: “From a local perspective this merger creates a very strong IT company in Dorset and Hampshire with the capacity to support the needs of even the largest and most complex customers in this region. We believe this is good news for businesses on the South Coast.”

www.itecgroup.co.uk