A rapidly growing telecommunications company in Wales has completed its seventh acquisition since it launched last year. Cardiff start-up Flotek Group has bought fellow Cardiff firm Toolk-IT for an undisclosed amount.
The latest acquisition takes Flotek’s turnover to £5m and client base to over 1,000 as it continues its ambitious acquisition-fuelled growth strategy since launching in May 2022. The deal sees Flotek acquire Toolk-IT’s service and resources including cyber-security, broadband and help desk support.
It follows Flotek’s significant expansion into north Wales, the Midlands and the North East of England following acquisitions of Chester-based ECS Solutions, Andover-based FlexiNet, Gower Business Systems, Plymouth IT firm MazingTree and Swansea's Cloud9ine Communications.
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Flotek chief executive Jay Ball said: “We are delighted that Toolk-IT has joined the Flotek Group. Since launching we have developed a strong reputation in south Wales and the South West, therefore this acquisition is a natural fit that brings our nationwide client base to over 1,000 and our turnover reach almost £5m, in line with Flotek’s ambitious growth strategy.”
Following the buyout, Toolk-IT founder Richard Williams will join Flotek as client account consultant, bringing his 20 years’ experience in generating new business, account management and accelerating revenue streams in the wholesale telecoms and managed service provider (MSP) market.
Mr Ball said: “With Richard donning one of our purple shirts and taking on the role of client account consultant, his valuable knowledge and experience complement our existing team and further enhances our ability to provide exceptional customer service to clients.”
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