Flotek acquires fellow Welsh MSP Ikona IT amid takeover spree
Deal marks Flotek's ninth acquisition in 18 months
Welsh MSP Flotek has successfully acquired Ikona IT Solutions, a Cardiff-based IT and telecoms support company, in a deal guided by The GS Verde Group.
This marks Flotek's ninth acquisition in just eighteen months of trading.
Previous acquisitions, also advised by The GS Verde Group, include Gower Business Systems, Cloud9ine, Liberty Solutions (Swansea) Limited, and Saecom in South Wales, as well as England-based businesses Mazing Tree, FlexiNet, ECS Solutions, and Toolk-IT.
These acquisitions have played a key role in Flotek's rapid geographical and service expansion.
The addition of Ikona IT Solutions, a longstanding IT support business in Cardiff, holds special significance for Flotek.
CEO Jay Ball and Spiro Ginis, owner at Ikona, have a 16-year history, reinforcing confidence in the future of Ikona under Flotek's stewardship.
This strategic move adds another Cardiff business to Flotek's portfolio, aligning with their plans for accelerated growth in the capital.
It establishes a robust foundation in the South Wales area to support Flotek's ambitious expansion goals, according to the two companies.
Ball expressed satisfaction with the acquisition, stating: "We are pleased that Ikona IT Solutions has joined the Flotek Group.
"Ikona is an IT company with a wealth of experience in providing businesses with a truly varied range of IT and communication needs, all with a stellar reputation for customer service.
"The acquisition of Ikona means that Flotek can add these valuable services to our diverse roster, providing a more streamlined and comprehensive service for our customers."
Ginis added: "Knowing Jay and his plans for the future, I believe this acquisition will only strengthen the business and allow us to continue to provide Ikona clients with the high-quality, end-to-end IT support that they know, alongside enhanced cyber security and engineering resource options. We are excited to be part of Flotek's impressive journey."
Flotek's acquisitive trajectory shows little sign of slowing down, as the company is also working on two additional deals to be announced before the end of the year.