Growing telephony, mobile and internet specialist The Technology Group is forging ahead with its mission to hit £15 million turnover by 2022 with the acquisition of a York telecoms company.
The Leeds-based firm has acquired Local Telecom Service (LTS), an established, family run business to business telecoms provider in York, for an undisclosed sum. The acquisition will add £1.5million to The Technology Group turnover and the eight-strong LTS team will remain at the York office operating under the Local Telecom Service brand.
David Marsden, acquisitions director at The Technology Group, says: “LTS is an established and respected business with a fantastic team and a strong customer base. For the company’s 400+ customers it will be very much business as usual: they will continue to receive the same high levels of service and support from the people they have built strong relationships with. Added to that, they will have access to a wider product portfolio, the latest technological innovations and the broader technical knowledge and resources that comes from being part of a wider group.
“For The Technology Group, this is a superb opportunity to bring more great people into our team, welcome fantastic new customers to the business and add a globally respected product to our portfolio. LTS is a Panasonic Solutions Partner, which will give our customers access to the latest Panasonic technologies alongside the systems we currently offer.”
Former Local Telecom Service director Mark Mills adds, “From the first meeting with David and Jonathan we felt there was a synergy between the two businesses, and we feel confident that they will continue to look after our team and customers and take the business forward. I’m sure an exciting future lies ahead for LTS staff and customers.”
The Technology Group is a £6.5million turnover telephony, mobile and internet services business, headquartered in Leeds with offices in London and Welwyn Garden City. The company has 39 staff, 900+ customers, global telephony solutions in 22 countries and counts Sage PLC, Oxford College, Rugby School, the NHS and Yorkshire Wildlife Trust among its clients.
LTS is the group’s second acquisition in 18 months. The first was Hertfordshire-based Exchange Comms in October 2017, and David Marsden says the firm is planning a third later this year:
“Acquisitions form one of the key pillars of our growth strategy, which is to reach £15 million turnover by 2022, double staff numbers to 65 and customer numbers to 2,000. This latest acquisition, coupled with continued organic growth, means we are well on course to achieve our target.”