Onyx CEO delighted at landing 'landmark contract'
Aug 31 2010 by Karen Dent, The Journal
DATA management company Onyx has won what it says is a “transformational” contract with part of the giant Balfour Beatty construction group.
The Stockton-based firm will supply IT services to Balfour Beatty Engineering Services (BBES), headquartered at Hillington near Glasgow, through an IT helpdesk which will work with BBES staff UK-wide.
Onyx – the current nebusiness Company of the Year – was invited to bid for the contract after being recommended by another BBES partner. The value of the contract has not been disclosed, but Onyx chief executive Neil Stephenson said it was a major stepping stone for the company.
“It’s a substantial contract and has some length to it,” he said, “It’s fantastic news. It’s not so much the size of the contract, it’s more the quality of it. It describes how Onyx is changing – it’s a transformational win.
“It shows we have the ability to win those types of customers. If we can win customers like this, we can win more.”
Mr Stephenson now hopes the work with BBES will open doors to work with other parts of Balfour Beatty’s multi-national empire.
“We are now a national business,” he said.
“It’s proving our model going from local to national. This validates our business model. It proves we can win large blue chip contracts.
“It’s not a multimillion-pound contract but it is a landmark win. It’s a great commercial deal.”
BBSE’s head of IT, John Foster, said that Onyx was chosen after a lengthy selection process.
“Onyx emerged as the best candidate for BBES. They listened closely to our requirements, and came back with innovative ideas, a commitment to full integration with our business and, importantly, the right cost model,” he said.
“Our teams are working extremely well together and we envisage a long-term relationship with Onyx, given the first-class results achieved so far.” The deal will have a “modest” effect on Onyx’s bottom line and will initially only create a handful of new jobs – but it is an important part of the company’s expansion.
“We’ve had a very successful year on new business wins. The market is still tough and struggling but we are expanding,” said Mr Stephenson.
“We grew 10% organically last year and are continuing to grow.”
Onyx has bought five companies in 18 months and now has offices in London and Scotland, as well as the North East, and aims to open its international office in New York this year.
It was named as one of Britain’s fastest-growing technology companies in the Sunday Times Tech Track 100 earlier this year.
Meanwhile, Balfour Beatty is also considering setting up a new customer support centre on Tyneside, which could potentially create up to 200 jobs.
