St. Cloud-based technology services provider Marco continues to rack up acquisitions.
Late last week, the company closed on its acquisition of Iowa-based Executive Technologies, another IT services provider. The deal marked Marco’s tenth acquisition in the past two years.
The Executive Technologies acquisition is relatively small compared to Marco’s other recent purchases; Marco will net just six employees from Executive Technologies, says CEO Jeff Gau.
Within recent years, Marco has purchased companies with much bigger workforces and annual revenue. Back in November, for instance, Marco acquired Harrisburg, Pa.-based Phillips Office Solutions, which logged annual sales of around $40 million, according to Gau.
But the latest acquisition “tucked in pretty nicely” with Marco’s broader business strategy, Gau says.
“It was a small transaction augmenting an existing business that we had in that marketplace,” he says. “Part of our growth strategy is acquisition.”
Organic growth is another component of Marco’s strategy. After making an acquisition, the company typically aims to cross-sell its IT services to continue growth, Gau says.
Marco formed more than four decades ago as a typewriter company. Through the years, it’s expanded its scope to a broader range of IT services.
Marco’s annual revenue is now above $400 million, and the company employs 1,415 people. In 2015, Minneapolis-based Norwest Equity Partners acquired the firm.