Fri, 19 Sep 2025 | BUSINESS SALE
Dynamic Networks Group, a private equity-backed IT services firm based in Leeds, has acquired a counterpart based in London. The group’s acquisition of Penntech IT Solutions enables the Kingland Capital-backed firm to significantly expand its geographical footprint.
Founded by Managing Director Lewis Pennell in 2017, Penntech is a provider of IT Managed Services to SMEs and has built relationships with clients from a diverse array of industries. Following the acquisition, Pennell will remain with the business as it integrates into the Dynamic Networks Group.
Pennell said that, following more than eight years of successful ownership, this was the right time for the company to become part of a larger group, which would enable it “to service a wider customer base with an extended portfolio of IT business solutions.”
He continued: "We deliberated hard over the best suitor for integrating our company and Dynamic Networks were a logical fit for us with their focus on putting the customer first, their quality of service and similarly strong company values.”
Pennell was advised on the transaction by Jacob Lord and Jack Tyldsley of KBS Corporate, saying that their guidance meant that the process felt “smooth and well-managed” and ensured that “the sale was completed successfully with minimal disruption."
Dynamic Networks Group Managing Director Gareth Leece said that Penntech was a “strong strategic fit” with the group and that the acquisition would strengthen its “suite of market-leading software and hardware solutions that help SMEs maximise their benefits from IT solutions”, whilst also providing the group with a presence in London.
Paul Landsman, founder at technology-focused private equity investor Kingland Capital, said that Dynamic Networks’ acquisition of Penntech represented “the continuation of our strategic journey to create a market leader in IT managed services.”
He continued: “The business was acquired in a competitive sales process and is a clear indicator of the targeted growth strategy at Dynamic since our backing in October 2023.”
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