Flotek Group has acquired the remaining equity in Office Equipment Systems Limited (OES), which will rebrand as Flotek Group later this year.
This update comes just over a year after Flotek Group made an initial investment in OES. Since February 2024, OES has exceeded its growth targets by following the group’s overarching vision and strategies.
Wayne Jones was managing director of OES and will now transition to the role of group sales director within Flotek Group. As part of the transaction, Jones (pictured above, left) has invested in Flotek Group, become a shareholder and joined the board.
Jay Ball, CEO, Flotek Group (pictured above, right), commented, “Acquiring the remaining equity of OES means we can really expand into the North with such a great team of individuals already in place.
“Wayne Jones becoming group sales director allows me to step back from the sales team and focus on future acquisitions while Wayne focuses solely on delivering our ambitious growth plans to achieve £20 million revenue by the end of 2025.”
Jones added, “We’ve adapted the Flotek model since the investment and seen huge growth levels and service improvements by investing in our team and technology stack. This has focused us on working with customers who see real value in a partnership.
“I’m looking forward to launching managed print into the wider business to allow us to really support customers with all their technology needs.”
Since the initial investment, OES has increased its recurring revenue, mainly from managed IT support growth and introducing telecoms to its existing customers. The company has also grown larger accounts in the area. Flotek plans to roll out managed print into its base of UK customers, further enhancing its service offerings.