Control Key takes flight with Concorde
Who?
Blackburn IT business Control Key, which specialises in network management and security.
Did what?
Has been bought by Leeds-based Concorde Excel Holdings, owner of IT services and solutions company Concorde Informatics.
What does this mean?
The acquisition will allow Control Key, which has five employees, to benefit from the group’s central infrastructure, while it brings additional services to Concorde Informatics. Directors David Parkinson and Kieron Sykes, who established Control Key in 1999, will remain with the business.
Parkinson said: “Control Key was built around providing support services to our clients, and we are now looking forward to wrapping these up with Concorde's services to provide our clients with a compelling range of managed services.”
The terms of the deal were not disclosed.
Who advised?
Stephen Gregson, corporate finance director at Moore and Smalley Chartered Accountants and Business Advisors, advised the owners of Control Key.
Insider comment:
Control Key has enjoyed steady organic growth in recent years, but the acquisition will allow it to benefit from new investment and the additional expertise of Concorde Informatics. The deal also provides Concorde new cross-selling opportunities and a strategic base in Lancashire.
Colin Meakin, chief executive of Concorde Informatics, added: “Having the Blackburn team as part of our expanding group will allow us to springboard our enlarged services portfolio into the Lancashire area and increase our coverage accordingly.”
