aap3 has its eye on more acquisitions

IT services firm hungry for more deals in wake of Preferred IT purchase

Jackson: we are still in the market for acquisitions

After snapping up recruitment specialist Preferred IT, services firm aap3 is targeting more acquisitions to supplement 2010 growth plans of 25 per cent.

Preferred IT and aap3 were originally part of the same business before separating five years ago.

Rod Jackson, aap3’s chief executive, claimed he had been looking to bolster his firm’s recruitment capabilities and Preferred IT was a different company from the one spun off in 2004.

“It has far more marquee accounts and has also expanded its reach into Europe,” he said. “It will be autonomous but synergistic. The leaders will continue to run the recruitment business but can now sell managed services.”

Through the Preferred IT acquisition, aap3’s yearly turnover is set to grow from £16 to £27m. Jackson added that he expected organic growth of between 12 and 15 per cent this year and was targeting a 25 per cent organic spike in 2010.

“We are still in the market for acquisitions,” he added. “We are constantly looking at companies that will fit any aspect of the business; anything around engineering or business solutions, and we are also growing in the US.”