Completed sale
Colbek Systems IT Software & Support Business Sold to Flotek Group | Transaction Overview
Knightsbridge’s buyer reach proved unique in maximising client’s retirement sum…
Colbek Systems provides comprehensive IT services and support for small-to-medium businesses across a range of sectors. The business is well-regarded, having maintained many customers from around its inception in 1987.
Based in Nuneaton, Warwickshire, its founder Richard Przybek decided to retire following almost four decades operating his company. Jennifer Morley, Knightsbridge Senior Deal Executive, was appointed to facilitate this for him.
Regional Commercial Director Martin Baars played a key role, as the Knightsbridge team’s research strategy kept them busy – 156 applicants came forward, which led to 61 viewings being held, and a staggering 14 offers being submitted.
Seeking to maximise the value Richard would receive for Colbek to set him up for a well-earned retirement, a significant deal was negotiated with Flotek Group, a Cardiff based managed IT service provider established in 2022.
Flotek Group is no stranger to K3 Capital Group, the wider multi-disciplinary group of professional services that Knightsbridge is a founding member of, having acquired an IT company through our sister company, KBS Corporate.
The acquisition was led by Flotek’s Co-Founder Jay Ball, who said: “This acquisition represents Flotek’s 12th successful acquisition in less than two years, underscoring our commitment to strategic growth and regional expansion.
“Welcoming Colbek Systems into the Flotek Group is an exciting step forward for us. This acquisition not only enhances our service offerings in IT support and cybersecurity but also strengthens our regional presence in the Midlands.”
Reflecting on a job well done, Jennifer concluded proceedings: “We’re pleased to confirm the successful completion of the business sale. It’s been a privilege to support both parties through this important transition. All the best.”