Bamboo kicks off buy-and-build strategy with MSP acquisition

MSP says 'aggressive' M&A strategy has been implemented to hit growth targets

Telecoms specialist Bamboo has kick-started an M&A drive with the acquisition of managed service provider Tech OP.

Cheltenham-based Tech OP was founded in 1983 and services SMBs in the South-West. Its vendor partners include Microsoft, HP Inc and Sophos.

Bamboo CEO Lorrin White (pictured) said: "We have been partnering with Tech OP for a number of years now, working together on providing their customers with connectivity, while they have supported ours with managed IT services and cybersecurity consultancy.

"As a business, we have some really exciting and ambitious plans for the next few years. The past two years have seen us focus on and invest in our internal processes, quality standards, the attraction of new talent and further digital transformation and automation to enhance our service provision.

"With these elements complete and key new members of the team in place, we are now moving on to the next stage of our growth strategy and ramping up activity with an aggressive acquisition trail.

"The team at Tech OP bring proven solutions and considerable technical skills and expertise with them, which perfectly complement our own proposition - and will ultimately benefit all our customers, helping them to connect and grow."

Bamboo said that Tech OP will continue to operate independently in the short term, before being fully integrated into the wider group over the coming months.

Sam Wilson, MD of Tech OP, said: "Tech OP has established a close partnership and enjoyed a collaborative relationship with Bamboo for several years.

"I have been impressed by both the friendly, positive attitude of their sales and support teams and the ambitious plans of the senior management team.

"Joining the Bamboo group provides an excellent opportunity for Tech OP and allows us a real strength and depth in supporting our customers who aim to exploit cloud and mobile technologies."

Bamboo said the M&A drive will help it reach its "significant growth targets" as it aims to becoming a leading MSP.

For the year ending 30 June 2018 the firm saw sales drop nine per cent £11m.