Fulcrum Technology Group has acquired UK IT services and solutions firm the pure technology group (PTG) for an undisclosed sum.
This is technology M&A deal number 528 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Fulcrum will retain PTG’s senior management team and all of its personnel. As part of Fulcrum, PTG gains access to a broader customer base and will help expand the group’s portfolio of products and services, the company said.
PTG was founded in 2007 by current CEO Stephen O’Brien. The company has 140 employees working out of locations in Leeds, Wakefield and Wigan. In its last financial year, the company was valued at £39.7 million (roughly US$54.6 million).
Fulcrum Acquires PTG: Executive Insight
Stephen O’Brien, CEO, the pure technology group, commented on the deal:
“We’ve had many approaches over the last couple of years because, fundamentally, we’re a great business. Fulcrum’s pitch was different though; they have a bigger strategy in play, which will propel us towards being amongst the top echelon of UK IT Service Providers. We also share many values, which will only enhance what’s truly special about our business - our people, our culture and our service. For all of us, and our customers and partners too, this is a tremendous opportunity.”
Fulcrum CEO Shane Maine said:
“From the start, we were very impressed by PTG. Not only because of the products and excellent service to customers, but also by their culture, innovative approach and people. We see clearly the expanding capabilities we can develop together in the areas of secure remote work and enterprise service management to create a successful future together.”
Fulcrum was advised by Harrison Clark Rickerbys, Tribeca Abogados S.L.P. and Lubbock Fine LLP. PTG was advised by Knights Plc, KPMG, and RSM UK Group LLP.
