Onyx joins galaxy of high-tech stars

Sep 21 2009 by Karen McLauchlan, Evening Gazette

A TEESSIDE firm has made it into a national league table for the UK’s fastest growing high-tech stars.

Stockton-based Onyx Group is one of nine North-east technology companies - and the only one from the Tees Valley - to be placed in the latest Sunday Times Microsoft Tech Track 100.

The listing ranks the fastest growing private technology companies in Britain by sales over a three-year period. Onyx was ranked 81st, seeing a 44.4% rise in sales.

Last month Onyx completed its fourth acquisition in 18 months, purchasing London IT firm Moffat Communications for an undisclosed sum.

The deal gave Onyx a presence in London’s finance district, access to a portfolio of financial services clients and additional expertise in regulated markets.

The deal was part of plans to post sales of £50m by 2012 through acquisitions and new site openings.

In the past two years Onyx has quadrupled turnover to £12m and is on course to generate sales of £23m this year.

The company provides managed services and networking to more than 3,000 UK customers and has data centres and workplace recovery facilities in Glasgow, Edinburgh and Newcastle.

The group has expanded rapidly during the last three years on the back of a series of acquisitions, including Falkirk and Glasgow-based Campbell Lee and Dundas IT in Edinburgh. It has also seen strong organic growth, securing key overseas contracts, notably Dubai World, the owner of P&O Ferries and Legoland.

The North-east’s top ranking firm was Yorkshire-based online car dealer wewillbuyyourcar.com

Together the region’s nine ranked firms employ 830 people and have racked up combined sales of more than £170m.