The Technology Group acquires firm as part of £15m mission
Telephony, mobile and internet specialist firm The Technology Group has acquired York telecoms company Local Telecom Service (LTS) for an undisclosed sum.
The acquisition will add £1.5 million to The Technology Group turnover and is part of its goal to hit £15m by 2022.
The eight-strong LTS team will remain at the York office operating under the Local Telecom Service brand.
“LTS is an established and respected business with a fantastic team and a strong customer base,” said David Marsden, acquisitions director at 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.
Former Local Telecom Service director Mark Mills added: "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 £6.5m turnover business, headquartered in Leeds, has offices in London and Welwyn Garden City.
It counts Sage PLC, Oxford College, Rugby School, the NHS and Yorkshire Wildlife Trust among its clients and has 39 staff and more than 900 customers.
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."