Matt Newing, founder and owner of one of the UK’s leading IT and unified communications providers, Elite Group, talks about driving growth and remaining agile through acquisitions.
In today’s fast-paced and changeable corporate landscape, it’s never been more important for businesses to remain agile and adaptive. The ability to anticipate and react to the changing demands of the market has always been a prerequisite for any successful business, particularly in the tech industry.
In the wake of COVID-19, this adaptability has never been more vital for business survival.
To generate reactivity, agility and in turn growth and profitability, we’ve always placed acquisitions at the core of our business philosophy. For Elite Group, this strategy has always been successful at building adaptability into the heart of the business, enabling the company to react and thrive in a fluctuating market.
Initially, we acquired businesses solely for growth and a contracted customer base. These days, we take a more strategic approach to acquisitions, actively seeking products, services and skillsets which complement and strengthen our current portfolio.
Our strategic focus has always been on procuring businesses that give Elite Group the best chance of succeeding in new and emerging markets. Our first acquisition of fellow Lancastrian firm, GP Telecom, was followed by a burst of activity and growth, which led to numerous acquisitions and business partnerships in subsequent years. This series of acquisitions allowed us to reposition the company in the wake of the emerging cloud and UC market and to remain ahead of the curve as fixed-line telephony reached redundancy.
To date, Elite Group has successfully completed 17 acquisitions, including asset purchases and share deals. With a dedicated acquisitions team seeking out the very best IT and unified communications businesses, we’re always looking for future acquisitions to enhance our service range, as well as our knowledge base and talent pool.
Indeed, acquiring quality companies brings in skilled and experienced employees. Several employees we’ve obtained through acquisitions have been instrumental in making Elite Group the leading company it is today, including high-level positions such as the Head of Technology, IT Head of Sales and our CEO, Rob Sims.
Just like in nature, adaptation is vital for survival and growth. 2020 has been a challenging year for businesses across every sector. The economic ramifications of COVID-19 mean business owners must stay ahead of the game to remain viable and competitive. Building adaptability through acquisitions is a good place to start and will ensure your company has the agility it needs to survive and thrive in 2020 and beyond.
So, if you have a market-leading IT product or service and are considering selling your business, get in touch today.