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Flotek reveals acquisition fund from Tower Leasing

Jay Ball & Kerry Howells

Ambitious IT Managed Service Provider Flotek has unveiled substantial backing from one of the UK’s leading finance firms, Tower Leasing to continue its acquisitive growth strategy.

The IT MSP, founded by a trio of experienced entrepreneurs, supports SMEs in South Wales and beyond prepare for IT digital transformation by embracing next generation technologies to improve their operations and service offerings.

Tower Leasing has committed a substantial acquisition fund to enhance Flotek’s robust strategy for organic and acquisitional growth, which includes an established pipeline of deals set to complete by the end of the year.

Jay Ball, CEO of Flotek, said: “We’re thrilled with not only the difference Flotek has made to our clients, delivering growth, scalability and cost savings though first-class services and technologies, but our own fast growth as a business.

“This backing from such a force as Tower Leasing is an endorsement of our business model and management team at Flotek, and a real boost to the buy and build growth strategy we’ve set out.”

Tower Leasing has over 30 years of experience in finance brokerage and has established strong relationships with over 25 financial institutions alongside access to its own book funds.

Flotek recently announced the acquisition of legal and professional services specialist IT provider Gower Business Systems, supported by Tower Leasing, expanding Flotek’s geographical profile and contributing £1.2m in revenue to the company.

The business is actively pursuing IT & Comms opportunities for consolidation that preserve the local identity and presence SMEs value from their technology provider, while delivering the new technologies needed to unlock the next stage of business and economic development.

Kerry Howells, Managing Director of Tower Leasing, said: “Flotek’s SME-focused ethos of dedicated managed services support is a distinct, and much-needed approach in this field. We are delighted to partner with Flotek and commit our support as the business continues its acquisitional growth.”