Nick Cohen, one of Scotland’s hottest young entrepreneurs & Ambassador in our Glasgow Executive Team has sold his technology business to create a larger Telecoms/IT services group based on the Clyde.
Founder and chief executive officer of PCR, Nick has joined his Speirs Wharf outfit with Abica, based in nearby Ibrox. Abica already had a stake in PCR, but have now acquired the remaining shares for an undisclosed sum.
PCR employs 16, including Cohen’s mother, Elaine, who works as the financial controller, while many of its IT staff operate remotely and are on flexible working to suit work-life balances. PCR, with clients in the marine, industrial and space sectors, has doubled in size in the last three years since its initial partnership with Abica.
The company offers bespoke IT consultancy and a managed service offering, bizanywhere, designed to make IT simpler and affordable for SMEs.
In 2017, PCR grew by 35 per cent and is anticipating breaking through the £1.2 million mark in sales for 2018.
Commenting on the sale, Nick said:
“Since we came together with Abica in 2014 we’ve doubled in size and have also pushed out of Scotland. Our clients need our help in understanding and enabling technology. If you are in a non-tech savvy industry or business, we will come in and supercharge your technology with the aid of the cloud. Our Microsoft partnership has expanded massively giving us a larger footprint, enabling us to service businesses south of the Border.’’
“I have sold the company to Abica. I want my customers to rest assure that I’m not leaving or heading away. I remain as the CEO of pcr. This is a great local Glasgow deal.’’
Abica first took a stake in PCR in 2014. Nick added:
“It has been a great marriage. This sale is really the next stage of integration,’’
Along with Nick, Sion Griffith, who joined in 2009 as PCR’s lead technician and now chief technology officer, is an equity stakeholder. Abica, who have 18 employees, are a business telecoms and mobile service provider, working across all areas of business communications. The merged group is heading for turnover in excess of £6 million.
“When we came together in 2014 that was a big thing for me. I was able to bring in Greg Barnett and David Munro, the two founders and directors of Abica, who have a lot more experience than me with business and life. I’ve learned a lot on the back of this. We all have a similar ethos. I was 24 at the time and, as an entrepreneur, selling a piece of my baby business was tough. However, I’ve loved every minute working with Abica.’’
Originally from Newton Mearns, Nick left school to undertake a business degree at the University of Strathclyde but set up his business in his first year at university. At 19, he was granted leave from his course to set up his company with the Prince’s Youth Business Trust (PYBT). Since then, he has never looked back.
We are absolutely delighted for Nick and extremely proud of his achievements, he is a fantastic example of a tenacious, driven and ambitious entrepreneur and we are lucky to have him as an Ambassador in our Glasgow Executive team. We wish him and the combined teams at PCR and Abica all the very best going forward.