CTS Managing Director Chris Bunch has opened up on his decision to stand down following its union with similar-sized Google partner Appsbroker.
The duo are merging to form a 400-employee outfit purporting to be the “largest Google Cloud-only digital consultancy in Europe”.
The deal comes after Manchester based CTS scored fresh investment from Marlin Equity Partners in January. It replaced NorthEdge as CTS’ majority owner.
‘Stepping back’
In a blog post, Bunch said he would be “surprised if this is the last deal the company does”.
But he revealed that he will not be there to help drive any possible further M&A, announcing that he is “stepping back” after three years at the firm.
Bunch’s “partner in cloud computing”, Tom Ray, will become CEO of the enlarged CTS business, with Appsbroker CEO and Founder, Mike Conner, joining the group investment board.
The addition of Swindon-based Appsbroker creates a Google specialist partner with offices in the UK, Germany, the Netherlands, Belgium and Romania.
“CTS and Appsbroker house some of the industry’s foremost cloud experts, with over 420 Google certifications and numerous industry awards. Bringing our standout teams together under one roof puts us in a strong position to drive the future of digital transformation,” Ray stated.
‘Hyper growth’
CTS’ recent growth reflects the “hyper growth” of Google Cloud Platform, whose revenues have risen from $13bn in 2020 to a projection of over $30bn in 2023, Bunch said.
CTS’ gross revenues rose 34% to £66m in its year to 31 March 2022, while AppsBroker’s turnover hiked 88% to £46.1m in the same period.
“Ultimately I am proud of what we’ve achieved – above and beyond the financial growth,” said Bunch. He highlighted CTS’ transition from a founder-led business, achieving B Corp certification and securing new investment among his highlights.
Bunch admitted he had had to “sacrifice doing the things [he] personally enjoy[s]” as he scaled CTS.
“That’s been a learning curve for me, but the right thing to do. You could build a business around yourself, and make yourself essential, but is that the right thing to do? Probably not,” he said.
Addressing his own future, Bunch remained enigmatic.
“For me? Well right now, I’m off out for a walk,” he concluded.
