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The consolidation in the managed services arena has continued with Acora moving to pick up fellow IT support and services player Plan-Net.
The combination of both firms, for an undisclosed fee, will create a business with revenues nudging £30m, with more than 70% of that coming from recurring contracts, give access to four UK service operation centres and a client list more than 250 strong.
Both firms are operating in the IT support world providing managed services to a range of mid-market customers creating a business that contains a lot of common expertise.
"Plan-Net has impressed us enormously in terms of its business model, the service levels it achieves with its loyal customer base and the way it aligns with our core offerings. The quality of the team was also key in our decision to bring the two companies together - great customers and great people, a winning formula," said Acora chief executive David Rabson.
"We see this as a merger with equal value for all stakeholders. It is transformational for the combined teams and the customers of Plan-Net and Acora alike," he added.
The management duo that have put 25 years into building up Plan-Net will remain involved with Adrian Polley joining the Acora Board as managing director of the Plan-Net business and Jerry Cave becoming an advisor to the board.
“Having worked alongside Acora previously, it was clear that the benefit for our customers and staff in bringing our offerings together provided an exciting opportunity for everyone. The combined proposition is incredibly strong, and we can see the merged Group being dominant in the mid-market as we scale further and benefit from the growth opportunities," said Polley.
Acora has been looking to grow the business for some time and back in February hired Paul Renucci as chief sales officer, who was seen as having experience in growth strategies that could be shared with the Board.
“Given our plans and ambitions, it was important for us to bring someone into the team that has been central to the growth of organisations, both through organic and inorganic strategies," Rabson said at the time.