UK MSP Acquisition: Roc Technologies Buys Esteem Systems
As it continues to push forward with its aggressive growth strategy, London, England-based services company Roc Technologies has acquired Esteem Systems. The combined business is expected to hit revenues of approximately US$92.5 million in 2019 with an EBITDA margin of nine percent.
The company now has 350 employees, UK-wide sales and support coverage, and offices in Newbury, London, Wetherby, and Glasgow along with Secure UK Managed Service Centers in Newbury and Woking.
Roc is known for its work in both the public and private sectors, specifically in the defense, justice, energy, police, and higher education verticals, among others. The firm’s technology platform portfolio includes secure enterprise communications, mobility, cloud services, and managed services.
Esteem brings with it 30 years of experience and a complementary portfolio in private cloud, data management, desktop, and managed services, according to Roc.
The deal also brings together the company’s complementary technology vendor partners including Citrix, Dell/EMC, HPE Aruba, Microsoft, Nutanix, Oracle, Tibco, UK Cloud, and Cisco.
“I am delighted to be able to welcome Esteem Systems and our new colleagues into the Roc family,” said Matt Franklin, CEO of Roc Technologies. “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.”
Roc has M&A experience and funding know-how. Last year, the company acquired project management specialist City Change Management and received an approximate US$11.6 million investment from the British Growth Fund.
M&A In The UK
The list of MSPs being acquired or folded together in the United Kingdom is growing. Among the deals we’ve tracked:
- AdEPT acquired Shift F7 Group, essentially uniting two managed IT services providers (MSPs) in the United Kingdom.
- Peach Technologies acquired Taylor Made Computer Solutions (TMCS), creating one of the United Kingdom’s largest independent managed IT services providers (MSPs).
- Diversified of New Jersey acquired Digitavia — a United Kingdom-based provider of standardized AV (audio-visual) solutions and support services.
- Chess Ltd. acquired Foursys, a 10-year Sophos cybersecurity partner. The deal added more than £11m to Chess’s turnover, bringing it to £120m.
- CMI acquired Solsis Ltd., an MSP that supports about 2,500 end-users around the south of England, including London.
- Ensono acquired Attenda, a UK-based MSP.