Glen Banks, managing director of Kinspeed, talks to unLTD about the acquisition of BHP IT and what it means for both businesses.
How did the acquisition come about?
I’ve known BHP IT, headed up by Andy Barker, for years, both from our shared partnership with Sage Accounting and ERP software, and through local networks.
Some recent joint projects confirmed that both businesses share common goals with 100 per cent focus on excellent customer service and a commitment to lifetime value for our customers. With these attributes inherent in both cultures, the projects proved a perfect match.
Why grow by acquisition?
It’s the fastest way, and safe if you’ve done the due diligence. Insight from our joint project work was akin to a trial or probation and proved to Andy and me that an acquisition was achievable and favourable. Kinspeed have been in growth mode for years but finding good people with genuine customer service focus takes time; the acquisition route fast-tracked our growth.
All BHP IT people will transition over to Kinspeed in time and our intention is to retain all employees from both businesses. Andy is integral to the combined business taking a key role as operations manager, effective immediately. Working alongside him is a pleasure and brings a new dynamic to Kinspeed.
As well as growing employees, we’ve grown our services. BHP IT have Microsoft accreditation and experience, in addition to their Sage partnership. This creates a well-rounded service offering with three leading software solutions available to our customers and prospects, as well as multiple application add-ons.
How did you make it happen?
I have a fully supportive and engaged board here at Kinspeed and a tremendous amount of help from two local firms, Bhayani Law and Brearleys Accountants. I couldn’t have done this without them to guide me through the process, dot the i’s and cross the t’s.
Customers from both companies have embraced the news and will benefit from expertise within the larger team. Prospects have additional options to find their perfect fit software solution for managing their business; achieving this remains our core focus for the whole team.
Acquiring a company is like getting married, both parties must share the passion, the desire and the dream. And just like walking up the aisle, for any MD there has to be a first time! I’d describe the experience as fun, frenetic and fortuitous for both parties.
With the marriage complete, we’re now building the family! We’ll merge the teams into one under the Kinspeed brand and develop employees on our enhanced proposition. Our customer first culture and expanded team can only increase our business growth and continued success.
Do call us for a chat about anything business acquisition or for help managing your business financials and accounting.
Tel: 01246 437000