Chess moves on Lanway in latest acquisition, adds 100 staff

AcquisitionsChannel News
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Almost £22 million in sales now added to the group’s ever-expanding turnover

IT services firm Chess has acquired Burnley-based Lanway for an undisclosed sum.

Cheshire-based Chess will now add Lanway’s £21.8 million of sales to its expanding group’s turnover after also recently acquiring Pinnacle CDT.

As well as turnover, Chess will also take on Lanway’s 100 employees, taking the group headcount to around 550. Those Lanway staff will remain at their current Burnley home.

SAP-data-centre-185x278 Data Centre StorageLanway focuses on cloud, storage, networking and data security services.

Chess’ latest annual financial results saw sales increase 33 percent to £74 million and the company saw an EBITDA increase of 13 percent, to over £14 million.

At the time, David Pollock, chief executive of Chess, said: “2015 saw us continue to reduce our reliance on fixed line call revenues with a real focus on growth in ‘new world’ cloud and ICT product sales.”

The company also recently secured a £50 million banking facility from Barclays to support its acquisition strategy for 2016.

Previous acquisitions have included Avenir Mobile, Parachute IT and Compwise ICT.

@AntonySavvas