Although 2024 may go down as a quiet year for channel M&A, it still produced some blistering deals.
Trade buyers picked up the slack as most (but not all) private equity-backed IT solutions providers took a sabbatical from the M&A trail.
But who were the most acquisitive UK VARs and MSPs of 2024?
Here we count down 12 of the most acquisitive on our radar (based on a combination of number of publicly announced deals, and the size of those deals).
Looking at our dynamic dozen, one has just became a ‘unicorn’, two are only two years old, and another has its sights set on breaking the £1bn sales barrier.
Read on to find out who made the cut….
12. Flotek
Deals announced in 2024: Colbek Systems (August), OES (February)
Appetite for M&A
Having made 12 acquisitions in less than two years, this fledgling Cardiff-based MSP “remains focused on identifying further acquisition opportunities throughout the UK”, it said at the time of its latest deal.
Flotek slowed its rate of activity in 2024, although its first of the year – North Wales-based OES – was a relative biggie by its standards.
OES boasted revenues of £3.1m – higher than Flotek’s typical £350,000-£2m target size. It also snapped up small Nuneaton-based MSP Colbek Systems in the summer.
The OES deal propelled Flotek’s turnover past £10.5m and headcount to above 80 (despite it only being founded in 2022).
What they said
“OES’s impressive track record and talented team make them a perfect fit for Flotek. This acquisition will boost our growth and visibility in the area and, crucially, will allow Flotek to enter the managed print and web business and develop our provision for the legal sector while supporting OES with access to a robust telecom offering,” Jay Ball, CEO of Flotek.
Fun fact
Flotek in October announced it has introduced an employee management incentive scheme to “reward staff and foster a culture of ownership within the company”.
Countdown continues on following page…
