Welsh MSP Flotek Group has acquired web and print technology provider OES for an undisclosed amount. While financial terms of the deal weren’t disclosed, the company says it expects to add £10.5 million (approximately US$11.3 million) in revenue as a result of the strategic deal.
This acquisition is the eleventh for Flotek and its second in the last three months. The company previously acquired Orbiss, an IT and telecommunications company focusing on the hospitality industry in December 2023.
This is technology M&A deal number 41 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
Flotek Group, founded in 2022, is based in Cardiff, Wales. The company has 37 employees listed on LinkedIn. Flotek’s areas of expertise include tech, MSP, IT, and cloud.
OES, founded in 2009, is based in St Asaph, Denbighshire, North Wales. The company has 16 employees listed on LinkedIn. OES’s areas of expertise include Printing Services, IT Services, IT Infrastructure, Website Services, Digital Marketing, Website Design, Branding, Graphic Design Services, IT Support, Managed Services, Managed Print Services, Managed IT Services, Cloud Solutions, Cyber Security, and Disaster Recovery.
Flotek Acquires OES: Leadership Insight
Jay Ball, CEO, Flotek, commented:
“OES’s impressive track record and talented team make them a perfect fit for Flotek. This acquisition will boost our growth and visibility in the area and, crucially, will allow Flotek to enter the Managed Print and Web Business and develop our provision for the legal sector while supporting OES with access to a robust Telecom offering. We’re pleased to be welcoming OES as part of the group and creating new opportunities for our businesses and our customers.”
Wayne Jones, managing director, OES, added:
“Being part of Flotek is a great opportunity for our team and our clients. It’s a huge deal to receive the investment from Welsh independent-owned business and I’m personally very proud to remain a Welsh business. We have always prioritized customer service at OES and now we can benefit from the systems and processes that Flotek uses to improve our customer’s experience. We can also offer a broader range of services and use Flotek’s resources to increase our reach in the region. I’m eager to enter the telecoms market and grow with Flotek.”
About The Deal
This move marks Flotek's entry into the web and print market and enhances its offerings for the legal sector, according to the company. The deal also increases Flotek’s headcount by 22 OES employees, bringing its total staff to over 80 people.
OES will retain its brand name and its current management team, including Wayne Jones, Peter Edwards, and Luke Murray, will continue with their current positions to lead the company.
