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29 Apr 2010
Northern VAR Concorde Excel Holdings plans to buy its way into the south of England and Scotland after locking down its first acquisition of 2010.
The firm, which was set up by a consortium of businessmen last March, bought Blackburn-based support services specialist Control Key on Monday. This follows on from its 2009 acquisitions of Concorde Informatics and Phase CRS.
Managing director Colin Meakin said the move would double Concorde’s managed services business and give it a toehold in the North West.
“We have noticed an upturn in the market since Christmas and have won some significant annuity contracts from our competition that helped underpin this deal,” he said.
Founded in 1999, Control Key has revenues approaching £1m and boasts vendor ties with the likes of Microsoft, VMware and SonicWall.
“Control Key will form a focal point in our managed services business,” Meakin added.
David Parkinson, business manager at Control Key, said: “Control Key was built around providing support services to our clients, and now we are looking forward to wrapping these up with Concorde's services to provide our clients with a compelling range of managed services.”
Meakin said Concorde is on course to turn over £9m this calendar year.
The VAR has recourse to a number of funding lines and is already in talks with targets in the south of England and Scotland, he added.
“Our next acquisition is likely to be in the south as this will give us a bridgehead into London and the Thames Valley,” Meakin said.
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