Prolific IT and Managed Service Provider, Flotek Group, has acquired IT & telecommunications company Orbiss in a deal advised on by the GS Verde Group. The acquisition marks the tenth successful acquisition for fast-growing Flotek.
The strategic acquisition of Truro-based Orbiss has enabled Flotek to expand its presence in the Southwest, to grow its team to 72 employees, and increase its revenue to £8.5m. The acquisition unlocks new areas of growth for Flotek, as Orbiss specialises in providing IT & telecommunication solutions to the hospitality industry (notably working with large clients such as Best Western and Holiday Inn).
Orbiss marks the first stage of Flotek's growth into the hospitality sector, and the Cornish business will form a key part of Flotek's offering in Southwest England, bolstering the Plymouth team to serve more clients in that area. Flotek has already dedicated resources to support the Orbiss team and its customers' integration, retaining the expertise that Orbiss has established over the years.
Jay Ball, Flotek CEO, has known Orbiss owners, Karen McGowan and Karen Patterson for over 16 years, making Flotek Group well-placed to take Orbiss into the future.
Speaking on the acquisition, Jay said: "We are so pleased that Orbiss has joined the Flotek Group. I have worked with Karen McGowan and Karren Patterson for a long time, assisting them with engineers on the ground, and their 35-year experience in the sector is invaluable to us. The culture and passion at Orbiss align with the culture and values of Flotek, making it a perfect fit for the Group. The acquisition will enable us to accelerate our foothold in the hospitality market across the UK and continue to grow our services as a Managed IT & Communications solutions provider in the South West."
Karen McGowan, co-owner of Orbiss, commented: "Working with Jay for over 16 years has allowed us to build a great amount of trust in his service, and we're excited for our team and customers to be part of Flotek Group's ambitious plans for the future."
Karen Patterson added: "We are very much looking forward to being part of Flotek's phenomenal growth and are delighted to continue serving our nationwide customers alongside our team that has helped us make the business what it is, now with Flotek's service offering of nationwide IT & Cyber Security Support and client base behind us."
GS Verde was delighted to have assisted Flotek on their landmark 10th acquisition in 18 months. Our multidiscipline team consisting of law, finance, tax, and communications expertise has advised on each Flotek acquisition from deal structuring through to completion, and seeing the Flotek Group develop and grow with each transaction has been fantastic.
The GS Verde group are business-focused experts in getting deals done. Working as a complete advisory team, GS Verde supports clients through a streamlined deal process, achieving the best possible outcome for businesses.