Connect Telecom will hit £20m turnover early, says director

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Connect Telecom Director Scott Ritchie

Connect Telecom director Scott Ritchie (pictured above) said the firm will hit £20 million in turnover earlier than anticipated after acquiring Lewes-based dealer Think Group for an undisclosed fee.

The original target was to hit £20 million before the end of the fiscal year (Aug 31).

Ritchie told Mobile News the firm “can almost hit £20 million organically” after the its seventh acquisition in the last 18
months.

The acquisition, part financed by Danske Bank, has increased the dealer’s Vodafone connections by 10,000 to 70,000 and takes total staff count to 100.

All 18 Think Group staff will be retained including managing director Damon Newbold.

The firm now has eight bases, with this addition following offices in Aberdeen, Belfast, Dunstable, Glasgow, Carlisle, Manchester and London.

Ritchie said the acquisition pushes turnover up by £2.5 million to £13.5 million.

The firm originally set out to hit £15 million in turnover by August 31 but upped the target to £20 million with three more acquisitions in the pipeline. Ritchie refused to disclose how much is in the war chest.

The Belfast-based firm connects via the Vodafone network and provides fixed line, mobile, broadband and cloud services.

It was named Vodafone’s 2017 One Net business partner of the year for the second year running.

Ritchie said: “We won’t be too far away from £20 million but we want to hit our target a bit earlier, there’s two to three more acquisitions lined up in the next three months.

“As we are now already competing with the bigger dealers it’s not about size its capability, we’re growing very quickly organically and non-organically.

“We go toe-toe toe with the larger dealers every day of the week.”

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