Kick ICT, the fast-growing single source IT group led by technology entrepreneur Tom O’Hara, has acquired Turnkey Business Software (TBS) and Turnkey Infrastructure Solutions (TIS) from the Turnkey Group. Founded in 2015, the deal is Kick’s sixth and seventh in six years as the business maintains its focus on growth and adding core skills.
The acquisitions mark a key strategic move in the expansion and development of Kick as a leading UK provider of IT services to the SME market. The deals add a further 15 staff and more than £3m to turnover and mark seven acquisitions since the business was founded in 2015.
The Turnkey Group has been serving customers since 1980. Barry Wood and his son Tony Wood have built a Scottish based group of companies with a global reach and have developed their IPS insolvency product to be a world market leader. The Turnkey Group have now refined and crystallised their strategy to focus solely on the global growth of its IPS product following the release of its SAAS version and Kick are delighted that Barry and Tony have made the decision to entrust us with looking after their TBS and TIS customers and staff in the future.
Commenting on the deal, CEO, Tom O’Hara, said: “TBS and TIS have a long standing and outstanding reputation in the market place and I’d like to thank Tony and Barry for affording us the opportunity to look after their customers and their people ongoing. It’s clear Tony and Barry had a myriad of options available to them and it’s a huge compliment for them to have endorsed our vision, strategy, culture and values. I wish them every success as they continue to build the Turnkey Group and IPS as a global software brand and I very much look forward to collaborating with them in the future. ”
Tom O’Hara added “Kick has made excellent progress this year adding Clyde, TBS and TIS to the Group over the last five months. Our cash reserves and great support from HSBC provides an excellent platform for growth and ensures we are well-placed to continue growing and building market share both in Scotland and more widely across the UK.”
Tony Wood also said: “Both TBS and TIS are high quality businesses, and it’s been a pleasure having them as part of the Turnkey Group. The sale of those businesses will allow Turnkey to focus 100% on our IPS insolvency platform and deliver its potential internationally over the coming years.
Kick ICT approached us earlier in the year with a proposal, and although we are really sad to see TBS and TIS leave the Group, we felt that we have similar cultures and values, and that Kick ICT can continue to develop and invest in their future growth.
We would like to thank all of our customers at TBS and TIS for all of their support over the years, and the staff for all of their hard work. We look forward to working with Kick to ensure that the transition is smooth and is a great success.“
In its latest set of accounts to year end September 2020, Kick ICT saw turnover increase by 10% to £14.6m, profit before tax rise by 12% to £1.7m and recurring revenue increase 11% to £8.6m. Kick currently employs 140 staff and expects numbers to increase further by the end of the year following the launch of the ‘Kick Academy’, a project aimed at recruiting and developing school leavers and graduates.