One of the largest independent Oracle partners in the UK has been formed with the acquisition of Leeds-based Explorer UK.
The company has been acquired by London-based enterprise IT managed services organisation DSP backed by Leeds-headquartered YFM Equity Partners (YFM).
YFM invested £5.3 million in DSP back in 2018 to fund its £10 million MBO led by Simon Goodenough. Since then, DSP has doubled turnover and profitability, and grown its contract base by 300%.
The acquisition of Explorer UK, which included working capital provided by Santander Growth Finance, will see the combined group dominate the upper echelon of independent Oracle partners in the UK.
Bringing together the two complementary businesses will broaden DSP’s extensive data infrastructure capabilities to provide a wider range of consultancy and managed service offerings. Both organisations will continue to operate in the UK database technology and cloud/managed services market under their own well-respected brand names.
Explorer founder, Ian Thomason, joins the board of the DSP Group, with Simon Goodenough becoming Group CEO.
The new combined group will continue to operate from DSP’s three offices, and Explorer’s Leeds head office. The deal will see DSP boost group revenues to over £20 million, increase profits substantively and provide a further platform for both organic and acquisitive growth.
“Our shared market knowledge and similar cultures make this an ideal fit, and together we have the scale and momentum to continue our ambitious growth plans,” said Simon Goodenough, CEO of DSP.
He added: “As a combined group, we will look to realise our joint objective of being the UK’s No.1 provider of enterprise-grade database and data platform services, whether on-premise or cloud, Oracle or Microsoft.”
Ian Thomason, Explorer MD, added: “By combining two market leading specialists in their respective domains, we will accelerate our individual growth ambitions, resulting in a sum greater than its parts.
“As well as our shared and deep heritage with Oracle technology, customers from both organisations will benefit from capabilities spanning Microsoft Azure Services, APEX Development, Machine Learning and, of course, Oracle Cloud Infrastructure.”