Security VAR Security Partnerships (SP) has swelled its top and bottom lines by more than a fifth in its first year under the ownership of Bytes Technology Group.
Bytes snapped up SP last August for an undisclosed sum and has since run the Check Point partner as an autonomous unit. The plan is to eventually double the size of the firm's headcount, sales and profit.
Since then, SP has picked up 42 clients from its new parent, enabling it to swell revenue from £8.2m to £10.1m year on year. Its pre-tax earnings rose from £1.25m to £1.5m on the same basis.
Talking to ChannelWeb, Neil Murphy, group managing director of Bytes, claimed the strategy of keeping SP independent had paid off.
"We have left them completely alone as an autonomous business unit," he said.
"They have retained their character and culture and this has also enabled us to measure their progress and performance. The last thing we want to do is take an asset we have bought and integrate it into a bigger mass."
The deal has also enabled Microsoft large account reseller Bytes to sell its software offering into more than 40 of SP's customers, Murphy (pictured) said.
SP's boss at the time of the acquisition, Darron Anley, has since left but joint managing directors John Gilbertson and David Rawle are tied to the business for at least three years under the deal's earn-out agreements.
"They have also now been introduced to the Bytes-wide incentive plan to keep them here for the longer term," Murphy added.
Murphy said Bytes has recourse to its South African parent's deep pockets should further UK acquisition opportunities arise.
"The Bytes group continues to look for acquisitions that complement our existing structure," he confirmed.
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