O’Hara seeking further deals after Kick ICT growth surge
Tom O’Hara: ‘considerable progress’
Kick ICT CEO Tom O’Hara is keen to acquire more businesses as the addition of Castle Computer Services and Talon Business Solutions helped the IT company record an 85% rise in turnover to £13.2 million.
A new board will be steered by former head of Microsoft in Scotland Raymond O’Hare and will be responsible for executing the Kick ICT business plan.
Launched by technology entrepreneur Mr O’Hara in 2015, the company recorded profit before tax of £1.6m and a recurring revenue of £7.7m.
The acquisitions culminated in the consolidation into the single trading brand, Kick ICT, from 1 October last year which also saw the purchase and refurbishment of a new 20,000 sq. ft headquarters in Strathclyde Business Park. The office has capacity for up to 200 staff.
Mr O’Hara, said: “We have made considerable progress during the last year and are pleased that the Castle deal has delivered the envisaged significant impact on sales and operating performance.
“We are now in a strong position to further expand the business within our chosen markets and sectors.
He added: “During the year ahead we will be focusing on extending our position in Scotland and across the UK.
“The business has strong cash reserves and fantastic backing from HSBC, meaning we can continue to explore interesting acquisition opportunities with entrepreneurial firms that want to be part of a fast-growing UK IT business headquartered in Scotland.
“We will also be investing in the creation of a new operational board which will be fully live by 1 April.”
Kick ICT employs more than 100 staff and is jointly owned by Tom O’Hara, Alan Turnbull and David Chazan.