88. Proact

Revenue: £49.7m

Proact IT UK has weathered a challenging year marked by economic headwinds, but continued to invest in long-term growth areas such as managed services, verticalised solutions and sustainability-led IT. The UK arm of the Stockholm-headquartered group saw a 10.3% drop in overall revenues in 2023, largely due to drawn-out sales cycles in its reseller business. But demand for cloud and services remained strong, with managed services revenue climbing 7.7 per cent.

Despite the tough macro picture, Proact continued to build from the ground up, growing its headcount through graduate and apprenticeship schemes while benefiting from a slightly softened labour market. Recent investments include the launch of tailored offerings for the higher education and insurance sectors, with more vertical propositions in the pipeline.

The company bolstered its UK presence in March 2024 with the acquisition of BlakYaks – a 50-strong London-based firm with a strong Azure and DevOps reputation and £5.6m in annual revenue. Incoming CEO Magnus Lönn described it as a “super good fit” for Proact’s customer base, with the team and brand set to remain intact. The move mirrors Proact’s earlier acquisition strategy with Sweden’s Conoa, reinforcing a "buy and keep" integration model.

At group level, outgoing CEO Jonas Hasselberg—set to step down by mid-2025—leaves behind a considerably larger and more profitable organisation than the one he joined in 2018. Group revenue has grown from SEK 3bn to nearly SEK 5bn under his leadership, with recurring revenues and cloud income seeing the biggest uplift.

Looking ahead, Proact UK is pinning future growth on strategic alignment with group priorities, continued development of sector-specific offerings, and sustainability—both in its internal operations and in helping customers meet ESG and regulatory demands.