Roc Technologies acquires larger MSP to form £80m business
Roc acquired City Change Management last year and secured £10m in funding to fuel further growth
Services outfit Roc Technologies has continued its aggressive growth strategy with the acquisition of Wetherby-based managed services provider Esteem Systems.
The newly combined firm is expected to hit sales of £80m in 2019, Roc said, with an EBITDA of nine per cent.
Roc CEO Matt Franklin said: "I am delighted to be able to welcome Esteem Systems and our new colleagues into the Roc family.
"Our strategy at Roc is simple; to become the most valuable partner in our customers' digital transformation strategy, and through that value-driven customer relationship, drive Roc's growth and reputation in the market.
"The coming together of Roc and Esteem Systems is 100 per cent complementary in portfolio, customers, industry focus, and geography, and I am absolutely thrilled that together we can extend new value to our joint customers and accelerate our next phase of growth through a truly differentiated customer offer."
Roc was placed 125th in CRN's Top 250 VARs, with Esteem in 88th.
Roc's acquired City Change Management last year and also secured a £10m investment from the British Growth Fund.
CEO Franklin also highlighted Esteems managed services capabilities as a key factor behind the deal, saying that, when added to Roc's own, it creates a "strong annuity-driven business". Roc said that managed services will make up 30 per cent of the business.
The combined firm will have a headcount of 350 employees and offices in Newbury, London, Wetherby and Glasgow.