12 Nov 2007

West Yorkshire-based firm Galtec Solutions has moved to strengthen its position within the UK´s technology market with the part acquisition of fellow Leeds business IT Solutions (GB) Ltd.

The takeover of the £12 million Yeadon firm, which includes image rights, database acquisition and other business factoring, is expected to add at least £1 million in turnover to Galtec and was administered by KPMG.

A number of IT Solutions´ staff had already made the move to Galtec including former Finance Director Andy Byard, Sales Manager Paul Deeley and Finance Manager Denise Williamson.

Andy Byard, now Financial Director at Galtec, commented: "This is a strategic acquisition that has bought ongoing revenue and is aimed at taking key assets of IT Solutions and incorporating them into our successful business model."

"IT Solutions had an impressive client list that included Lastminute.com, Arla foods, Laing O´Rourke and a number of public sector bodies and we will strive to build on their ability to work with these kind of organisations. A growing number of IT firms are going into administration because of an inability to diversify and adapt to continually changing market conditions."

"Galtec has demonstrated a focus and strength of purpose with this acquisition of key components of a major competitor," added Andy

Galtec, with headquarters in Horsforth, is a leading provider of IT and AV products and services to a host of major public and private sector organisations including the MOD, NATO and KPMG.

The business, founded in October 2004, is set to exceed a turnover of £5.4 million posted in its second year and employs 30 full-time staff.