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SCALING UP
LEADING FROM THE FRONT
Celebrating the Matrix247 deal
It’s a leading question. When it comes to business growth just how vital is getting the right senior team together?
Stephen Pritchard believes he has the answer. The co-founder of Rossendale-based telecommunications and mobile solutions business Matrix247 says: “Having the right people involved is massive.”
His business has embarked on a ‘buy and build’ strategy as it looks to continue its growth journey and in its first steps on that journey in April it acquired Bolton-based Task Office Systems.
The deal means Matrix247 will be able to capitalise from a surge in demand for technology and systems to enable new ways of working – triggered by lockdown – by adding Microsoft Office products, IT support and digital photocopiers with document management to its existing range of services.
Set up by Stephen Pritchard and Geoff Wright in 1991, Matrix247 has established itself as one of the largest owner-managed providers of telephone and communication systems in the UK.
The acquisition takes the Matrix247 team to 40 full-time employees, with the company actively
Stephen Pritchard
To reflect its expanded range of services, Matrix247 has also restructured into three distinct divisions: telecoms and mobile services; managed IT and digital print with document management.
looking to recruit more Microsoft engineers and additional staff into its sales, finance, customer service and marketing teams.
Stephen believes Matrix247 is now positioned to enter new sectors, target bigger companies and compete with larger players in the market. Acquisitions are also a way of increasing the value of the business.
The company is on target to achieve £10m turnover by 2024, having already reported a 25 per cent increase in turnover and 40 per cent increase in pre-tax profits for the year ending 2019.
Stephen says that working with Lancashire- based strategic business growth consultants Cube Thinking to adopt ‘lean thinking principles’ has helped increase its profits over the last three years.
The ability to measure performance throughout the operation has also played a part in its recent impressive growth.
He adds that accelerating the growth strategy has gone hand in hand with strengthening the business’ top line management. He says: “We went out to find the best we could, and we outsourced.”
That included recruiting a non-executive finance director, someone with a strong track record in acquisition and growth. Their knowledge is proving invaluable, Stephen says.
He adds that a former chief executive of an IT business that he grew from nothing into a multi-million-pound organisation has also been brought on board as a non-executive director, to “get us going forward on our strategic growth plan”.
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