Sale opens up new growth opportunities for Simpology

IT support specialist Simpology has been sold to managed IT and communications company Flotek Group in a transaction advised on by KBS Corporate.

Simpology began trading in 2003 having been established by Lee Frankham and Mark Balaam, and supports SMEs and multi-site companies in London, East Anglia and the surrounding areas from its base in St Ives, Cambridgeshire.

Lee and Mark, Managing Director and Technical Director respectively, will remain with Simpology to ensure a successful integration of the businesses, which share several key partners including Microsoft, N-able Cove and ZEN Internet.

Bridgend-based Flotek delivers cloud technology to businesses across the UK and has grown significantly since being incorporated in 2022, driven by a commitment to innovation, customer service and regional expansion.

“We see many similarities between the teams at Flotek and Simpology,” explained Lee Frankham. “The integration of Flotek’s products and services will open new growth opportunities for our customers and we are excited about the future.

“With Flotek, we anticipate growth in our business by leveraging their national team, products and services.”

Jay Ball, Flotek’s CEO, commented: “This acquisition brings over 50 new managed support customers, plus more than 50 customers under the IT4Hair retail-focused sub-brand, as well as an additional £1million in revenue, taking our total to 120 employees and £17million in revenue.

“The acquisition aligns with our vision to continue our market-leading growth and provide exceptional IT and cyber security support to SMEs across the UK.”

Oliver Rigby, KBS Corporate Deal Executive, led the transaction and thanked colleague Carmen Wong (Document Writer) for the high-quality marketing materials produced to highlight the opportunity, as well as Alston Asquith for legal work provided.